Slashing CO2Steel from the sun.
Big Picture
From vehicles to bridges to skyscrapers, modern society is made of steel. At 1% of the global GDP and 10% of CO₂ emissions, steel’s impact will only grow as populations expand and urbanize. Yet, the dirty, expensive, and inefficient production process hasn’t changed much since the 19th century. Cleaning it up is technically tough and fierce global competition makes it economically near-impossible.
How it Works
Electra is developing a novel electrochemical process for producing low-carbon steel. Whereas most steelmaking uses coke (coal) to turn iron ore into pure iron at a whopping 1600 ºC, Electra uses renewable energy at a low temp – about as hot as a cup of coffee – greatly reducing energy needs and capex. Because the process is highly flexible and can plug into any cheap renewable electricity, it can even provide valuable grid balancing services.
Unfair Advantage
Electra unlocks new iron units the world needs as high-grade ores decline, turning stranded and low-grade ores into ultra-pure iron that conventional processes can’t touch. By delivering a premium feedstock for clean steelmakers from untapped resources, Electra fills a critical supply gap. Add on carbon pricing, as many markets are already proposing, together with profits from providing grid balancing services, and the advantage only grows.
1.5
Gigatons of CO₂e
potentially avoided by 2050
SANDEEP NIJHAWAN CEO & FOUNDER
Sandeep has 20+ years experience in clean energy technology and venture creation. He holds a PhD in mechanical engineering.
QUOC PHAM CTO
Quoc has 20+ years experience scaling complex technologies from idea to demonstration. He holds a PhD in solid state chemistry.
How to make emissions-free iron at temperatures cooler than coffee
Bloomberg
Iron and steel’s US $1.4 trillion shot at decarbonization
Wood Mackenzie
Decarbonization Challenge for Steel
McKinsey & Company