Electra

Electra, founded in 2020 and headquartered in Boulder, Colorado, is a clean iron production company focused on decarbonising the steel industry - which accounts for nearly 10% of global carbon emissions. The company uses a patented low-temperature electrochemical-hydrometallurgical process to produce 99% pure iron from a wide range of iron ores, including low-grade and previously mined, uncommercialised feedstocks, with renewable energy as the power source. Operations run at 60 deg C, with oxygen emitted in place of CO2 - a marked environmental improvement on traditional coal-based methods that need temperatures above 1,600 deg C. The modular system captures high-value mineral co-products and integrates at scale with existing steel infrastructure. The first demonstration plant launches in Colorado in 2025, with commercial-scale production targeted by the end of the decade.