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Electra Raises $85M To Electrify And Decarbonize Iron And Steelmaking With No Green Premium

Oct 06, 2022•almost 3 years ago

Amount Raised

$85 Million

TorontoEnergyMining

Description

Electra, a green iron company, has raised $85 million to produce Low-Temperature Iron (LTI) from commercial and low-grade ores using zero-carbon intermittent electricity. Electra’s process emits zero carbon dioxide emissions and carries zero green premium, meaning it will cost the same or less than existing production methods powered by fossil fuels.

Company Information

Company

Electra Battery Materials Corporation

Location

133 Richmond Street West, Suite 602

Toronto, Ontario, Canada

About

Electra is building North America’s only fully integrated, localized and environmentally sustainable battery materials park. Leveraging the company’s own mining assets and business partners, the Electra Battery Materials Park will host cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production, which will serve both North American and global customers. Electra Battery Materials is an integral part of the North American battery supply chain, providing low-carbon, sustainable and traceable raw materials for the region’s fast growing electric vehicle industry.

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