Canvas Category: OEM : Mining
We are supplying the resources the world needs to help build a better, clearer future. Copper for renewable energy. Nickel for electric vehicles. Potash for sustainable farming. Iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition.
Electra raises $85M to electrify and decarbonize iron and steelmaking with no green premium
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.
Electra, founded by entrepreneurs with decades of experience developing complex electrochemical systems, has created a novel process to electrochemically refine iron ore into pure iron at 60 degrees Celsius (140 degrees Fahrenheit) using renewable electricity and then convert the iron to steel using the existing infrastructure of electricity-powered arc furnaces. By comparison, 69% of steel today is made at approximately 1,600 degrees Celsius (2,912 degrees Fahrenheit) using coal, emitting about two tons of carbon dioxide for every ton of steel produced.
KoBold Metals Raises $192.5 Million to Use AI to Find Battery Minerals
KoBold aims to change the mind-set of an industry that has long relied heavily on sampling soil and sediment and drilling holes in the ground to determine whether areas contain valuable minerals. While the company still leans on those techniques, it hopes to limit the chances of failure by drawing on machine learning and other scientific computing techniques.
In September , KoBold formed an exploration alliance with BHP, the world’s largest mining company by market value. It is one of a number of partnerships it has with resources companies world-wide.