🇸🇪 Stegra receives €100 million from Swedish Energy Agency Leap Fund

‘Well done Team Sweden! 🇸🇪

Positive news today – a decision from the Swedish Energy Agency to grant us state support via the Industrial Leap fund. It’s a fund that was established after parliament introduced the Swedish climate law, which holds present and future governments responsible for enforcing policy that is based on the Swedish climate targets.

Earlier this year, the European Commission approved, under EU State aid rules, that €265 million could be made available to Stegra through Swedish support programs. Today we have a first decision on €100 million of that budget. It’s a strong signal that there is national backing for Stegra – one of Sweden’s largest industrial projects. It also contributes to some leveling of the playing field for us as a young cleantech company, in relation to steel companies in Europe that have received large support packages.

Our project is highly effective in terms of achieving emissions avoidance relative to the investment. It has been vetted thoroughly through this process based on CINEA’s methodology. The calculations have been verified by an external expert and all the input data has been validated by an independent auditor via an ISRS4400 audit. This has been a very thorough process. Today’s news will help us keep a high pace on our journey!

Originally published on 19 September by Stegra.

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