Electra

Founded in 2020 by Sandeep Nijhawan and Quoc Pham and based in Boulder, Colorado, Electra is reinventing ironmaking to cut the roughly 10% of global CO2 emissions tied to iron and steel. Its patented, modular process dissolves iron from low-grade ores and electrowins 99% pure iron at low temperature, powered entirely by intermittent renewable electricity. In April 2025 the company raised a $186 million Series B co-led by Capricorn Investment Group and Temasek, bringing total funding to about $214 million, and it has announced clean-iron offtake and supply arrangements with Meta and Nucor.