Meta buys green steel startup Electra

Electra, a clean iron producer, has announced several new agreements aimed at reducing the carbon footprint of steel production. These include purchase deals with international steel companies and an Environmental Attribute Credit (EAC) agreement with Meta to address the social media giant’s supply chain emissions.

Founded in 2020, Electra is based in Colorado and has developed a low-temperature process to refine iron ore electrochemically into 99% pure iron. This process replaces traditional methods that rely on coal and high temperatures with chemistry and renewable energy. It involves dissolving iron ore in an acidic solution, removing co-products, and using electricity to deposit iron onto metal sheets. The technology allows the use of intermittent renewable energy and a broader range of ores, including previously untapped materials, unlike traditional methods that require high-grade ores. It also reduces waste by removing co-products like silica and alumina.

Electra also announced the site for its new demonstration facility in Jefferson County, Colorado. The 130,000 square foot facility is expected to begin operations in mid-2026, producing up to 500 metric tons of low-carbon, high-purity iron annually.

Supporting this facility’s construction, Electra has secured a $50 million grant from Breakthrough Energy Catalyst, backed by Bill Gates, and an $8 million tax credit from the Colorado Industrial Tax Credit Offering (CITCO). These add to Electra’s recent [Series B funding round of $186 million](https://www.esgtoday.com/clean-iron-startup-electra-raises-186-million-to-decarbonize-steelmaking/).

Mario Fernandez, Head of Catalyst at Breakthrough Energy, stated, “Steel production is one of the largest sources of emissions, driven primarily by the energy-intensive step of refining iron. Electra is reimagining the fundamentals of ironmaking, enabling a scalable, cost-effective pathway to low-carbon steel.”

The agreement with Meta aligns with the company’s goal to achieve net zero emissions across its value chain by 2030. Meta is also piloting mass timber in its data centres’ construction to replace emissions-intensive materials like steel and concrete. Under the new agreement, Meta will purchase verified EACs linked to reduced emissions from Electra’s clean iron and may buy additional EACs from future Electra facilities.

John DeAngelis, Head of Clean Technology Innovation at Meta, commented, “Meta is thrilled to collaborate with Electra to advance low-carbon iron and steel – critical data centre building solutions – made here in the U.S. Through this partnership and our commitment, we aim to demonstrate a pathway for these innovative materials to scale.”

Electra’s agreements with steel companies include a deal with U.S. steelmaker Nucor to use Electra’s clean iron in its Electric Arc Furnace (EAF) steelmaking. Toyota Tsusho America will distribute Electra’s clean iron to automakers and sell green steel to steelmakers. INTERFER Edelstahl Group plans to use the clean iron in specialty steel applications, following qualification, to help customers meet decarbonisation goals.

Nucor, INTERFER Edelstahl Group, and Toyota Tsusho Corporation have also participated as strategic investors in Electra’s recent Series B funding round.

Sandeep Nijhawan, CEO of Electra, remarked, “We started Electra to fundamentally reinvent the way the world makes iron and tackle one of the biggest sources of industrial emissions, but we’ve always known we could not do it alone. With binding commitments and support from strategic partners, we are proving that pure iron can be made resourcefully and scaled quickly to meet global demand.”