Electra unveils new Colorado demonstration facility

Electra claims it is reinventing iron production to tackle the nearly 10% of global carbon dioxide emissions produced from iron and steelmaking. Its patented technology uses chemistry and clean energy to transform a broad range of iron ore into responsible, resourceful, pure iron at scale.

The facility is expected to begin operations in mid-2026 and will deploy the company's technology to convert iron ore into 99% pure iron using its proprietary low-temperature process powered by chemistry and clean energy.

The facility is supported by a new $50 million grant from Breakthrough Energy Catalyst, a programme within Breakthrough Energy that funds and helps scale early commercial clean energy projects, and an $8 million dollar tax credit from the Colorado Industrial Tax Credit Offering (CITCO) along with $186 million in Series B funding announced earlier this year.

“Steel production is one of the largest sources of emissions, driven primarily by the energy-intensive step of refining iron. Electra is reimagining the fundamentals of ironmaking, enabling a scalable, cost-effective pathway to low-carbon steel,” said Mario Fernandez, head of Catalyst at Breakthrough Energy. “Working in close collaboration with BE Catalyst, Electra applied the 12 Keys to Scaling Up to systematically de-risk their technology, assemble a world-class team, and lay the foundation for commercialisation.”

Clean iron produced at Electra’s demonstration facility is already contracted for delivery to several strategic partners to qualify the material for use in steel applications. Signed purchase orders include Nucor, the largest steelmaker in the United States and early investor of Electra, Toyota Tsusho, the global steel trading company, and INTERFER Edelstahl Group, the European steel and metals distributor.

Nucor will use Electra’s clean iron in its electric arc furnace (EAF) steelmaking, a long-established, lower-emission alternative to traditional blast furnace methods, at their sheet mills.

“The advanced purchase commitments with Electra are a clear demonstration of Nucor’s belief in their clean iron technology and our dedication to accelerating the adoption of sustainable steelmaking,” said Al Behr, Nucor’s executive vice president of raw materials. “We’re excited to see Electra’s demonstration facility become a reality, marking an important milestone in our partnership and in the journey to decarbonize the steel supply chain. This facility lays the groundwork for a new era of low-carbon materials, and we’re proud to support Electra as they scale their innovative solutions.”

Once qualified, Toyota Tsusho America plans to sell Electra’s clean iron to steelmakers and distribute green steel to automakers, creating a closed-loop system that supports widespread adoption of low-carbon materials.

INTERFER Edelstahl Group will use Electra’s clean iron, following qualification, in specialty steel applications to help customers meet their decarbonisation goals.

As part of the unveiling, Electra announced its first Environmental Attribute Credit (EAC) purchases from Meta. Under the agreement, Meta will purchase verified EACs linked to the reduced emissions from Electra’s clean iron. The contract with Electra is part of Meta’s goal to reach net zero emissions in 2030 by addressing emissions sources throughout its supply chain, including the steel used to build and operate its infrastructure. Meta will also have the option to purchase EACs for CO₂ reduction from future Electra commercial facilities.

Meta’s early-commitment to Electra's clean iron production helps advance low-carbon industrial materials and support the addition of new domestically-produced iron supply at a time when global steel demand is accelerating.

“Meta is thrilled to collaborate with Electra to advance low-carbon iron and steel – critical data centre building solutions – made here in the US. Through this partnership and our commitment, we aim to demonstrate a pathway for these innovative materials to scale," said John DeAngelis, head of clean technology innovation at Meta.

With new funding from Breakthrough Catalyst and purchase agreements from industry leaders for the demonstration facility, Electra is on track to reach commercial scale clean-iron production by the end of the decade.

“We started Electra to fundamentally reinvent the way the world makes iron and tackle one of the biggest sources of industrial emissions, but we’ve always known we could not do it alone,” said Sandeep Nijhawan, CEO of Electra. “With binding commitments and support from strategic partners, we are proving that pure iron can be made resourcefully and scaled quickly to meet global demand.”