What does Electra do?
Electra is a clean iron company based in Boulder, CO that develops a modular, patented process to produce pure iron using flexible, cost-effective iron ores combined with intermittent renewable energy. Its innovative approach is supported by strategic partnerships across mining, steelmaking, and consumer sectors.
How much did they raise?
The company raised $186M in Series B funding, led by Capricorn Investment Group and Temasek Holdings, with participation from investors such as Breakthrough Energy Ventures, Rio Tinto, and several others. This round underscores strong investor confidence in Electra's approach.
What are their plans for the money?
Electra plans to use the funds to expand its operations and further develop its clean iron production technologies. The investment is expected to accelerate the adoption of sustainable methods in ironmaking, reducing environmental impact and advancing industry innovation.
What have they achieved so far?
Electra has successfully built strategic partnerships across key sectors and raised a total of $214M to date, demonstrating significant progress and market validation for its clean, renewable iron production model.
