Electra

Electra, set up in 2020, is a clean iron production company headquartered in Boulder, Colorado, focused on decarbonizing the steel industry, which accounts for nearly 10% of global carbon emissions. The company employs a patented low-temperature electrochemical-hydrometallurgical process to produce 99% pure iron from a wide range of iron ores, such as low-grade and previously mined, uncommercialized feedstocks, using renewable energy. Operating at 60°C, Electra’s process emits oxygen instead of CO2, significantly reducing environmental impact compared to traditional coal-based methods that require temperatures above 1,600°C. The modular system captures high-value mineral co-products and supports scalable integration into existing steel infrastructure. The company plans to launch its first demonstration plant in Colorado in 2025, with commercial-scale production targeted by the end of the decade.