Electra
Electra has developed a novel method of using electricity to coax pure iron out of low-grade ores, opening the door to cleaner steel. The company's solution, known as electrowinning, is already used to produce other metals like copper and nickel. Electra's acid-based process can handle lower-grade ores and is ideal feedstock for electric-arc furnaces, which can also run on renewable energy.
Funding Round:
Funding Amount: $180.4M
Date: 03-Jan-2025
Investors: Amazon, Breakthrough Energy Ventures, BHP Ventures, Nucor
Markets: CleanTech, Manufacturing, Materials Science
HQ: Boulder, Colorado, United States
Founded: 2020
Website: https://www.electra.earth
LinkedIn: https://www.linkedin.com/company/electra-earth
Crunchbase: https://www.crunchbase.com/organization/electrasteel
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