Electra, a Bill Gates and Amazon-backed greentech startup, has opened its pilot 'green' steel plant in Colorado.
Electra, the Bill Gates and Amazon-backed startup, has launched its first steel production plant in the United States. Using renewable energy, the pilot Colorado plant will produce clean metallic iron from high-impurity ores.Electra claims that this accounts for a whopping 7% of global emissions. To this end, Electra makes emissions-free iron possible by integrating renewable energy resources.
“Clean iron produced from a wide variety of ore types is the key constraint to decarbonizing the steel industry sustainably,” said Electra CEO and co-founder Sandeep Nijhawan. “With support from our partners across the value chain, the pilot brings us closer to our goal of producing millions of tonnes of clean iron by the end of the decade,” he added.
The pilot project aims to manufacture clean iron plates in a 3.3-foot square size. The company will gradually increase its production capacity to validate its modular design.Electra will connect the iron plates produced by the pilot project to scale up production to commercial levels. BHP, a major supplier of seaborne iron ore to the steel industry and an investor in Electra, provided the iron ore for the pilot project.
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