🔥 Electra lands top-tier backing to decarbonise ironmaking

Electra, a Colorado-based climate tech startup, has closed a $186M Series B to scale its clean iron production platform — pulling in major names across climate, industry, and capital.

✅ What’s inside the deal
• $186M Series B co-led by Capricorn Investment Group and Temasek
• Backed by Breakthrough Energy, Lowercarbon Capital, BHP Ventures, Rio Tinto, Toyota Tsusho, Nucor, and others
• Total funding to date: $214M

🧠 Why it’s interesting
• Electra makes 99% pure iron using low-grade ores and renewable electricity, no blast furnace
• Its modular electrochemical process slashes emissions and enables local, distributed production
• Already securing downstream integration across mining, steel, and EV supply chains

🚀 Why it matters
• Iron and steel = ~10% of global CO₂ emissions
• Automotive and construction giants are hunting for clean feedstock
• Investors are betting this is the climate tech wedge into one of the dirtiest industrial sectors

Steel’s getting a software-style reset. Electra wants to be the Stripe of green iron.

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