H2 Green Steel changes name to Stegra

On September 12, 2024, H2 Green Steel announced its rebranding to Stegra, reflecting its commitment to decarbonizing hard-to-abate industries. The company, which was established in 2021, aims to reduce emissions in the steel sector by utilizing green hydrogen, green iron, and green steel technologies. With a funding of €6.5 billion, Stegra is on track to launch the world's first large-scale green steel plant in Boden by 2026. The name change signifies a shift from a descriptive project title to one that embodies the company's long-term vision. CEO Henrik Henriksson emphasized that the new name, which means 'to elevate' in Swedish, symbolizes the team's determination to overcome challenges and drive progress in an industry traditionally reliant on fossil fuels. This rebranding aligns with Stegra's mission to inspire the broader steel industry to accelerate its transition towards sustainability. Stegra's operations will focus on three main platforms: green hydrogen production, green iron manufacturing, and green steel production. The company is exploring expansion opportunities in locations such as Portugal, Canada, and Brazil, where there is a strong demand for value-chain decarbonization and access to renewable energy sources. The most advanced project is in Portugal, where land has been reserved and power allocation notifications have been received. As Stegra embarks on this new chapter, it aims to leverage its expertise and resources to facilitate significant emissions reductions in hard-to-abate sectors, starting with the steel industry. The company’s innovative approach and commitment to sustainability position it as a leader in the transition to a greener economy.