H2 Green Steel changes name to Stegra

The reason for the name change is that H2 Green Steel was originally the working name for the steelworks plans in Boden. Now they want a name that better reflects a business that will be broadened in the future. The company will not only sell steel, but also sponge iron, and work with hydrogen technology.

"Stegra is a Swedish word which means to ‘to elevate’. It captures the team’s spirit to rise in the face of challenges and always continue to move onwards and upwards. It’s a constant reminder of the company’s purpose and honors our Swedish roots and where it all began in Boden", says Henrik Henriksson, Stegras CEO.

Another aspect is that H2 Green Steel can be difficult to trademark internationally. The company also has plans to start projects outside Sweden. It is investigating ventures in Portugal, Canada and Brazil.

"Presently, a project in Portugal, where the site selection has been made and land reserved near Sines, is the most advanced. Notification on substantial allocation of the power needed has been made to Stegra and our local value chain partnerships continue to evolve," says Henrik Henriksson.

H2 Green Steel was launched in 2021, announcing plans for a new steel industry in Boden. That industry is currently being built in Svartbyn outside Boden, and at the beginning of the year the company secured financing of almost SEK 75 billion. Production is scheduled to start in 2026. Stegra is owned by private capital.

Lennart Håkansson

editor@northswedenbusiness.com