Electra has developed a proprietary electro-chemical process that produces 99% pure iron using renewable electricity, enabling low-carbon, high-grade steel and other advanced material applications. Its modular system design supports phased, rapid expansion, minimizing upfront capital outlays and accelerating time to market. The company recently brought a demonstration facility online and has already secured advanced purchase orders from industry leaders such as Nucor, Toyota Tsusho, and INTERFER Edelstahl Group, signaling early commercial traction. Electra also executed its first Environmental Attribute Credit agreement with Meta, highlighting demand for its green iron outputs. Financially, the firm closed a $186 million Series B round in 2025, won a $50 million Breakthrough Energy Catalyst award, and received Colorado’s inaugural $8 million clean-industry tax credit. The new venture debt facility strengthens its balance sheet as it prepares for its first commercial-scale plant.

Total raised

$377M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Mar 2026