Nucor makes capital investment in Electra, which produces carbon-free iron

Electra uses renewable energy to turn low-grade iron ores into high-purity iron through electrochemical and hydrometallurgical processes. This material is being prepared for use in the steelmaking process to offset other high-quality metals that come with higher greenhouse gas emissions.

Leon Topalian, President and CEO of Nucor Corporation, said, "We are excited to partner with Electra and its revolutionary process for producing emission-free iron. Just as Nucor's changing the face of the steel industry 53 years ago with our first electric arc furnace, successfully developing and scaling up a zero-carbon iron product is the kind of transformative technology that can change the steel industry as we know it." he used in his statements.

The process developed by Electra produces Low-Temperature Iron (LTI) from commercial and low-grade ores using zero-carbon intermittent electricity. The company electrochemically converts iron ore into pure iron at 60 degrees Celsius (140 degrees Fahrenheit) using renewable electricity. This iron can be converted into steel using existing electric arc furnaces, which account for 70% of steel production in the United States.