War tech goes old school with Sweden’s first TNT factory since Cold War

A Swedish startup is taking defence tech back to basics — by building the country’s first TNT factory since the Cold War.

Stockholm-based Swebal has secured a €3mn investment for the plant, slated to enter full operation in late 2027. Located in Nora, a town about three hours from the capital, the factory is expected to produce more than 4,000 tonnes of TNT a year.

Investors in the facility include the co-founder of venture capital firm EQT, Thomas von Koch, serial entrepreneur Pär Svärdson, and Sweden’s former army chief, Major General Karl Engelbrektson.  

Joakim Sjöblom, Swebal’s founder, said the funding would help fast-track construction of the factory, which he hopes will bolster European security.

“The investment will help us speed up further towards the final approvals, allowing us to have the shovel in the ground as soon as possible,” he said. “All enabling our mission to strengthen ...