In a statement, the company, Electra, said its oxygen-decoupled electrolysis (ODE) process is capable of processing lower-grade ores, those with iron content as low as 35%, without need for grinding, beneficiation, and pelletization. All the more, it operates at 140 degrees Fahrenheit using renewable electricity, it said. 

“Electra's iron is the fulcrum to decarbonize steelmaking and to de-risk the iron ore challenge," said Electra chief executive Sandeep Nijhawan. 

"Our team, starting with a clean sheet, developed an electrochemical process to refine iron ore to high purity iron by radically lowering the process temperature from 1,600 to 60 degrees Celsius, replacing coal energy with intermittent renewable energy, and displacing commercial ores with lower-grade ores that are not being used or are currently treated as waste today. We also have a historic opportunity to decentralize the global iron and steel supply chain and re-shore manufacturing and mining jobs."

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