Electra, Interfer to partner on low-carbon iron for green steel production

Electra, a producer of low-carbon iron that is headquartered in Boulder, Colorado, has signed a memorandum of understanding with German steel and raw materials trader Interfer Edelstahl Group to partner on clean iron production for specialty steel.

Electra says Interfer is focused on developing sources for green steel and green raw materials across Europe. At the same time, Electra says its low-carbon iron production process is transforming the environmental footprint of the iron and steel industry by utilizing chemistry and renewable energy to produce 99 percent pure iron.

With access to a reliable supply of Electra’s high-purity clean iron, Interfer will support customers in reaching their decarbonization goals. Electra says access to its low-carbon iron also will further Interfer’s own sustainability goals as the company works to reduce its absolute Scope 1, 2 and 3 greenhouse gas emissions by 42 percent by 2030, from a base year 2022.

“As Electra continues to scale our clean iron production, partnerships with industry leaders like Interfer are essential,” Electra co-founder and CEO Sandeep Nijhawan says. “Our modular system is designed for rapid deployment to meet the demand of partners and manufacturers looking to incorporate high-purity iron into their operations.”

Electra and Interfer say they share a commitment to reducing emissions from iron and steelmaking and aim to use their partnership to tackle these challenges, demonstrating scalable, sustainable pathways to low-carbon iron production to meet the growing demand for green steel.

“We regard Electra’s approach to produce low-carbon iron and thereby help transform the iron and steel industry as one of a kind,” Interfer CEO Gerold Lorenz says. “Innovations like this will make a big impact not only for our two companies but the overall environmental footprint of our industry, and we are proud to be part of this development.”