The Swedish Energy Agency has awarded about EUR37 million to low-carbon steel developer Stegra through the country’s Industrial Leap program, helping the company continue building its new steel plant in northern Sweden.

Back in October, Stegra launched a new fundraising round aiming to raise roughly EUR975 million to finish the plant. The company says the project is already over 60% complete. It also noted earlier that production of its first low-carbon steel batches will be about three months behind schedule, now expected to start in late 2026 or early 2027.