Swedish greenfield venture Stegra, formerly known as H2 Green Steel, has been granted about €100 million ($111m) from Sweden’s Industrial Leap Fund for its establishment of a near-zero-emission mill.
In 2018, Sweden introduced a national climate law and implemented an “Industrial Leap Fund”, as a means to support the commercialisation of innovation in the industry, Kallanish learns.
Stegra points out that the financial grant helps to better balance the playing field, in relation to steel companies in Europe that have received large support packages. “This creates the prerequisites for us to build up a long-term sustainable and competitive industry in Sweden,” says Stegra chief executive Henrik Henriksson.
Stegra adds that its climate calculations are based on CINEA’s methodology. CINEA is the European Climate, Environment and Infrastructure Executive Agency – the European Commission agency which manages decarbonisation and sustainable growth. The calculations have been verified by an external expert, DNV, and all input data has been validated by independent auditor PWC, Stegra notes.
Christian Koehl Germany
