Nucor Corporation, which is the largest steel producer and steel scrap recycler in the country, just entered a new era of green steelmaking after partnering up with Electra, a green iron company.
Electra is well known due to their development of a Low-Temperature Iron solution that has zero carbon dioxide emissions while using low-grade ores and renewable electricity.
This partnership will allow the smaller company to scale its trademark product, and in addition to an equity investment, Nucor's executive vice president of raw materials, Doug Jellison, will be joining Electra's market advisory board.
Electra's innovative and sustainable approach has led to the ability to electrochemically refine low-grade iron ore into pure iron at a low temperature of 60°C. This steel's properties are similar to prime-grade scrap and metallic iron made from fossil fuels, and its useful feedstock for electric arc furnace steelmaking.
"Today, as we deployed renewable energy increases and the supply of higher-grade iron ores decreases, we see a significant opportunity for Electra's ironmaking process to drive sustainable iron and steelmaking," said Electra CEO and co-founder Sandeep Nijhawan.
