Electra has developed a process to refine iron ores using electrochemical processes that are low in emissions and powered by renewable energy.
Photographer: Chet Strange/BloombergNext-Generation Green Steel Technology Hits a Crucial Milestone
Electra, which makes iron at a low temperature using renewable energy, is scouting sites for its factory.
Bill Gates-backed startup Electra says it can now make emissions-free iron without melting ore on commercial-sized prototypes. That’s a major milestone for a technology that’s only a few years old and promised a step-change in the race to produce steel without a massive carbon footprint.
Steel is a crucial building material and accounts for 7% of global carbon-dioxide emissions each year—more than the impact of shipping and aviation combined. When Electra came out of stealth mode in 2022, the Colorado-based startup showcased a technology that pushed the boundaries of known electrochemistry. It soon found itself in a race to scale up and show it can produce green steel cheaply. “We have so much demand for this material,” said Sandeep Nijhawan, chief executive officer of Electra.