Electra has secured significant backing from a diverse group of investors and is preparing to construct a demonstration plant to validate its technology and produce clean iron for market qualification.
Organizations Involved
Capricorn Investment Group, Temasek Holdings, Breakthrough Energy Ventures, Lowercarbon Capital, Earth Venture Capital, Builders Vision, Rio Tinto, Roy Hill, BHP Ventures, Nucor, Yamato Kogyo, Toyota Tsusho Corporation, Interfer Edelstahl Group
Founders
Sandeep Nijhawan, Quoc Pham
Company Description
Electra is focused on reinventing ironmaking and cleaning up iron production through a modular, patented process that uses low-grade iron ores and intermittent renewable energy to produce 99% pure iron. This innovative approach significantly reduces CO2 emissions and resource intensity compared to traditional ironmaking methods.
Market
Steel Production
Location
Boulder,
CO,
US
Coinvestors
Capricorn Investment Group, Temasek Holdings, Breakthrough Energy Ventures, Lowercarbon Capital, Earth Venture Capital, Builders Vision, Rio Tinto, Roy Hill, BHP Ventures, Nucor, Yamato Kogyo, Toyota Tsusho Corporation, Interfer Edelstahl Group