The comprehensive review, conducted by the board and external advisers following June’s ownership transition, confirms the project’s timeline remains intact despite rising costs. Inflation and the expenses associated with ramping up operations after an earlier scaling-back period have pushed requirements beyond initial estimates. While the business case for the plant holds firm, the company is now navigating intensive negotiations with major shareholders and financiers to bridge the funding gap.

Leif Johansson, Chair of the Board, emphasized that the firm’s belief in the project has only strengthened, even as the scale of the financial challenge became clear. To steer the transition, the board selected Buskhe for his expertise in managing large-scale industrial transformations. Henriksson, who is credited with evolving Stegra from a concept into a major European industrial player, will remain as an adviser to ensure continuity. Operations in Boden continue to move forward, with existing supplier and customer commitments currently unaffected by the ongoing search for additional capital.