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Boulder, Colorado, July 28, 2025 – The steel industry, responsible for about 8% of global CO2 emissions, is on the verge of a potential breakthrough. American startup Electra, backed by major investors including Bill Gates' Breakthrough Energy Ventures, Amazon, and mining giant BHP, is successfully testing a zero-carbon iron production process at a temperature of just 60 degrees Celsius (140 degrees Fahrenheit). This technology promises to solve the two biggest challenges for green steel: high costs and strict raw material requirements.
Electra's method is fundamentally different from both traditional and modern metallurgical technologies. Instead of melting iron ore at extreme temperatures (over 1600°C in a blast furnace) or reducing it with hydrogen at high heat (over 600°C in a DRI process), Electra uses an electrochemical process at ambient temperature.
How the process works:
Electra's technology offers several strategic advantages that could reshape the future of the steel industry.
With $85 million in funding from major players, Electra has built a pilot plant in Boulder, Colorado, to refine and prove its technology. The company's goal is not just to make green iron, but to make green iron that is cheaper than conventionally produced iron, thereby driving decarbonization in the steel sector organically without the need for massive subsidies.
If successfully scaled, Electra's method could become one of the most important technologies in the fight against climate change, offering a viable path to sustainably produce the foundational material of modern civilization.
Source: Analysis based on Electra's press releases and industry reports as of July 28, 2025.