The review, conducted by the board and external advisers since June, confirmed that the project's long-term business case remains viable despite the need for additional capital. Costs have surged beyond initial June projections, largely due to expenses incurred while restarting work after a period of operational stagnation. In response, the company has overhauled its cost control and project monitoring systems.

Leif Johansson, Chair of the Board, noted that the financing requirements exceeded initial expectations but emphasized that the company is actively engaging with major shareholders to secure support. He added that the board has identified new avenues for outsourcing and strategic partnerships to improve the project’s cost position.

Håkan Buskhe will assume the CEO role on November 1, 2026, replacing Henrik Henriksson. Henriksson, who transitioned the company from a concept to a major industrial site, will remain as an adviser to ensure continuity. The board expects Buskhe’s background in managing large-scale industrial transformations to be critical as the company moves toward plant completion. Despite the financial restructuring, operations in Boden continue, and commitments to existing suppliers and customers remain unaffected.