Electra (Series B)
Funding Details
- Awarder
- RSS - techfundingnews.com
- Date Award
- April 24, 2025
- Vertical
- Ironmaking
- Funding URL
- View Funding Page
- Valuation
- $214,000,000
- Funding Amount:
- $186,000,000
Company Info
- Founding Year
- 2017
- Traction
- 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