Stealthy Green Steel Startup Cracks Lazy Iron Ore Code
Over here in the US, about 70% of steel is produced with electric arc furnaces, which which is a good head start. In contrast to fossil-fueled blast furnaces, electricity opens up the door to producing green steel with wind, solar, and other forms of renewable energy.
Electra figured out a solution, which involves, well a solution. The idea is to dissolve less costly, low-grade iron ore in a solution, then extract the iron. The company states that its process can work on ores with an iron content as low as 35%. “Our team, starting with a clean sheet, developed an electrochemical process to refine iron ore to high purity iron by radically lowering the process temperature from 1,600 to 60 degrees Celsius,” Electra CEO Sandeep Nijhawan explained in aThe low-temperature process can start and stop on demand, which means that it can use available wind or solar without necessarily involving a significant investment in energy storage.
Institute for Energy Economics and Financial Analysis, last June our friends over at SP Global noted that a “in the marketplace presents a significant hurdle for steelmakers who are trying to reduce their carbon emissions.”
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