9,612.84 TRY BIST 100 BIST 100
37.83 USD USD USD
5.24 CNY CNY CNY
40.78 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.53 TRY Interest Interest
73.74 USD Fossil Oil Fossil Oil
34.28 USD Silver Silver
5.09 USD Copper Copper
103.77 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,761.14 TRY Gold (gr) Gold (gr)

World's first environmentally friendly steel plant starts operations, backed by Bill Gates and Amazon

Bill Gates and Amazon-backed startup Electra is celebrating a groundbreaking moment with the opening of the world's first environmentally responsible steelmaking plant in Colorado, USA.

World's first environmentally friendly steel plant starts operations, backed by Bill Gates and Amazon

Powered entirely by renewable energy, the innovative plant is pioneering a revolutionary approach to steel production, aiming to significantly reduce the environmental footprint associated with traditional methods.

Electra's primary goal is to combat the significant carbon dioxide emissions associated with iron production. Using recognised electrochemical and hydrometallurgical methods, Electra converts low quality iron ores into high purity iron without producing emissions. The product resulting from this process has an unrivalled purity exceeding 99% and is ideally suited for electric arc furnaces, as well as being perfectly compatible with recycled scrap steel.

CEO and co-founder Sandeep Nijhawan emphasises the significance of this meaningful achievement, highlighting the vital role that clean iron plays in the sustainable development of the steel industry. By collaborating with key stakeholders along the value chain, Electra's pilot plant lays the foundation for a scalable, commercially viable production model ready to transform the trillion-dollar steel market.

Backed by leading investors such as BHP and Breakthrough Energy Ventures, Electra is making significant progress towards reducing carbon emissions in the steel industry, pioneering a future that combines environmental sustainability with economic harmony. With clear vision and determination, Electra's goal of creating a cleaner, more sustainable steel industry marks a defining moment in the global quest for sustainability.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Kuwait Gains Access to Global Debt Markets After Law Amendment

Friday, March 28, 2025

China's international trade volume increased by 14% in February

Friday, March 28, 2025

Global market challenges are increasing for German companies

Friday, March 28, 2025

Russia increases iron and steel exports to South Korea

Friday, March 28, 2025

Discussions on scrap trade in Europe are deepening

Tuesday, March 25, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now