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Overview
Electra Earth develops a green-steel production method that uses electrochemical refinement to turn iron ore into steel at much lower temperatures than traditional methods. The process lowers heat from about 1,600°C to around 60°C and relies on intermittent renewable energy rather than coal, enabling on-demand production and the use of low-grade ores that are usually treated as waste. The result is ironmaking with zero carbon emissions. The company’s hardware and operations are designed to be flexible, so production can start or stop as needed, and energy costs are reduced by using inexpensive renewable electricity and lower capital and operating expenses. Electra Earth is also exploring co-extraction of green earth minerals from iron-containing ore bodies and waste streams, creating potential additional revenue streams."
About Electra
Industries
Industrial & Manufacturing
Energy
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$387.6M
Headquarters
Boulder, Colorado
Founded
2020
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Simplify's Take
What believers are saying
- Secured $30M JPMorgan venture debt in March 2026 to accelerate its first commercial facility by end-of-2030.
- Advanced purchase agreements from Nucor and Toyota Tsusho create a closed-loop system for low-carbon materials to automakers.
- Captures high-value co-minerals like silica and alumina during refinement, opening new revenue streams beyond clean iron.
What critics are saying
- Nucor's Boston Metals partnership uses IRAHEAT technology producing low-carbon iron at one-third energy cost, threatening contracts by 2028.
- Toyota Tsusho's $15M Salzgitter joint venture routes auto contracts to a 2027-ready electrolytic plant, displacing Electra supply.
- Alberta's 2026 iron ore export moratorium blocks Electra's $910M Canadian facility until 2029, halting critical scale-up.
What makes Electra unique
- Electra uses low-temperature electrowinning at 60°C, replacing coal and 1,600°C heat with renewable electricity.
- The process accepts low-grade, uncommercialized iron ores as feedstock, unlike traditional methods requiring high-grade ores.
- Its modular, stackable design enables rapid phased expansion with lower upfront capital costs than billion-dollar steel plants.
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Funding
Total Funding
$387.6M
Above
Industry Average
Funded Over
7 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Health Savings Account/Flexible Spending Account
Short-Term Disability
Long-Term Disability
Basic Life Insurance
Parental Leave
401(k) Retirement Plan
401(k) Company Match
Stock Options
Growth & Insights and Company News
6 month growth
↑ 2%1 year growth
↑ 4%2 year growth
↑ 4%TSG, the European leader in technical services for sustainable mobility solutions, is strengthening its partnership with Electra, one of Europe's most innovative fast-charging players, to advance the deployment of electric vehicle charging infrastructure across Europe.
"Toyota Tsusho Invests in U.S.-based Electrolytic Iron Manufacturer Electra- Contributing to Achieving Carbon Neutrality in the Steel and Automotive Industries -" - We, the Toyota Tsusho Group, deliver to countries around the world a diverse range of products and services essential for building prosperous and comfortable societies and managing the global environment.
Electra is Hiring for 15 Jobs on Simplify!
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About Electra
Industries
Industrial & Manufacturing
Energy
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$387.6M
Headquarters
Boulder, Colorado
Founded
2020
Electra is Hiring for 15 Jobs on Simplify!
Find jobs on Simplify and start your career today