Stegra bets on Sines, Portugal
Swedish greenfield venture H2 Green Steel is changing its name to Stegra, Kallanish learns. The company also says its prospective project in Portugal has received power allocation.
H2 Green Steel was launched in 2021 to build the world’s first large-scale green steel plant, with start of production scheduled in 2026. “The team continues to prove that it is possible to do more and to change things fast, also in an industry that has for a long time been considered difficult to decarbonise. As we continue this journey, we leave our more descriptive project name behind, and take on the name Stegra, which reflects our long-term ambitions,” says company chief executive Henrik Henriksson.
“Stegra is a Swedish word which means ‘to elevate’,” Henriksson explains. “It is a constant reminder of the company’s purpose and honours our Swedish roots and where it all began in Boden (northern Sweden).”
Stegra also notes it has a “solid funnel of potential projects” outside of Sweden that are being explored as part of a longer-term outlook. It is looking at locations which offer abundant access to renewable electricity and strong grid connections. Locations under consideration include 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 Henriksson.
The firm said in June it was looking at Portugal as a viable location for HBI production (see Kallanish passim).
Christian Koehl Germany
