Stegra has closed a €1.4 billion ($1.6 billion) financing round led by a Wallenberg Investments consortium, installing industry veteran Leif Johansson as board chairman. The new holding entity, Stegra Holding AB, now controls over 90% of shares in the company. CEO Henrik Henriksson continues in his role as Stegra accelerates construction of Europe's first hydrogen-fuelled steel plant in Boden, Sweden, targeting 2.5 million metric tons of annual steel production.