Electra, a low-carbon iron startup headquartered in Boulder, Colorado, aims to revolutionize the steel industry by extracting iron from ore with lower greenhouse gas emissions.

The company unveiled a demonstration facility in Westminster, and said it uses a chemical and electric process to create 99% pure iron, which could cut steel's carbon footprint by 30%. The clean iron can be converted into steel using Electric Arc Furnaces or utilized for iron-based batteries.

This week, the company announced purchase agreements with major industry players, including Meta, Nucor, and Toyota Tsusho America.

Electra plans to begin operations in mid-2026 and will produce up to 500 metric tons of low-emission iron annually.