“Low-Carbon” Iron Producer Announces Demonstration Plant, Purchase Agreements

A startup producer of“low-carbon” iron has announced the location of its demonstration plant, as well as agreements with several major companies.

Low-Temperature Iron Processing

Electra, based in Boulder, Colorado, says that it utilizes a patented technology to convert iron ore into pure iron at lower temperatures than conventional processing and at scale, with a chemical process that clean energy sources can power.Company officials said that the process could help slash the emissions tied to the iron and steel industries worldwide.

Suburban Denver Demonstration Facility

The company’s demonstration facility will be located in Jefferson County in suburban Denver. The 130,000-square-foot complex will be able to produce up to 500 metric tons of iron per year and is scheduled to open in mid-next year.

Iron Purchase Agreements

Electra also announced a series of purchase agreements with leading companies in the steel sector, including steelmaker Nucor, steel trading company Toyota Tsusho, and metals distributor Interfer Edelstahl Group.

Meta to Buy Credits from Electra

Facebook and Instagram owner Meta, meanwhile, plans to purchase“Environmental Attribute Credits” from Electra, the company said.

Image credit: LariBat/Shutterstock

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