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Mukhtar Kononov
Mukhtar Kononov

Carbon Electra


Nucor Corporation, a North American manufacturer of steel and steel products, has made an equity investment in Electra, a Colorado-based start-up developing a process to produce carbon-free iron that can be used to make steel. Electra uses renewable energy to refine low-grade iron ores into high-purity iron through electrochemical and hydrometallurgical processes.




Carbon electra



The process developed by Electra produces Low-Temperature Iron (LTI) from commercial and low-grade ores using zero-carbon intermittent electricity. The company electrochemically refines iron ore into pure iron at 60 degrees Celsius (140 degrees Fahrenheit) using renewable electricity.


Nucor Corporation announced that it has made an equity investment in Electra, a Colorado-based start-up developing a process to produce carbon-free iron that can be used to make steel. The company uses renewable energy to refine low-grade iron ores into high-purity iron through electrochemical and hydro-metallurgical processes.


The process developed by Electra produces Low-Temperature Iron (LTI) from commercial and low-grade ores using zero-carbon intermittent electricity. The company electrochemically refines iron ore into pure iron at 60 C (140 F) using renewable electricity. That iron can be turned into steel using existing electric arc furnaces, which account for 70% of steel production in the U.S.


Electra completed a benchmarking study that indicates that the carbon intensity of the cradle-to-gate battery grade nickel sulfate produced from recycled black mass using its hydrometallurgical process in a low-carbon electricity grid is lower than other feed options, including Class 1 nickel metal, nickel mixed hydroxide precipitate or ferronickel.


"We are very pleased to have attracted a global leader in sustainability to our organization," said Trent Mell, CEO. "Renata's track record in climate change management, sustainability strategy and transparency will serve Electra well as we commission our cobalt sulfate refinery in December and advance our battery recycling plant in 2023. We intend to have the lowest carbon footprint of all cobalt sulfate producers in the world, and Renata will oversee our journey to carbon neutrality and ensure that the same standards are applied to all phases of future growth."


Ms. Cardoso is a seasoned professional from one of the largest mining companies in the world. An economist by training who also holds an MBA, Renata began her career in Vale's corporate strategy group. In 2008, she transitioned to help create Vale's approach for Sustainability with responsibilities for climate change management, sustainability strategy and transparency, and social and environmental indicators performance management. In 2019, she joined Vale Canada, last serving in low carbon initiatives, leading cross functional teams to develop and implement a low carbon roadmap for operations in Canada, Indonesia, UK and Brazil.


Electra is planning to build a fully integrated, localized and environmentally sustainable battery materials park. Leveraging the Company's own mining assets and business partners, the Electra Battery Materials Park is expected to host cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production, which will serve both North American and global customers. Electra also owns the advanced exploration-stage Iron Creek cobalt-copper project in Idaho, USA. Electra Battery Materials is an integral part of the North American battery supply chain, providing low-carbon, sustainable and traceable raw materials for the region's fast growing electric vehicle industry.


The carbon footprint of Canadian nickel sulfate production would be up to seven times lower than for the conversion of Indonesian nickel deposits, according to Electra estimates. Insulan added that besides environmental concerns, Indonesia was also becoming increasingly raw material resource nationalistic.


We saw movement in the US Capitol this week as bipartisan groups settled their differences (No Climate, No Deal) to make movement on infrastructure and agriculture climate action. While infrastructure negotiations led to some concessions, agriculture talks grew carbon stocks.


The Growing Climate Solutions Act helps producers to generate and sell carbon credits by setting up a third party certification process through the USDA. The bill also creates new producer-friendly resources that will help farmers and foresters scale up sustainable practices and tap into new economic opportunities through voluntary carbon markets.


More than 75 agriculture, food, forestry and environmental groups, including Microsoft and McDonalds, have signed on in support of the bill. The widespread push for voluntary carbon markets coincides with major corporations seeking to increase supply of carbon credits to reach their net-zero pledges.


? Sendle, an Australia- and Seattle, WA-based shipping carrier focused on carbon neutrality and small business, raised $35m in Series C funding from AP Ventures, Federation, Full Circle, and NRMA.


? Aeroseal, a Dayton, OH-based developer of building seals to reduce carbon emissions, raised $22m in Series A funding from Breakthrough Energy Ventures, Energy Impact Partners, and Building Ventures.


? Holy Grail, a Mountain View, CA-based startup prototyping a small and modular direct air carbon capture device, raised $2.7m in Seed funding from LowerCarbon Capital, Goat Capital, Stripe founder Patrick Collison, Charlie Songhurst, Starlight Ventures, 35 Ventures, Deep Science Ventures, Y Combinator, and others.


A group of leading climate scientists including David King (former UK chief scientist) and Faith Birol (head of the IEA) formed the Climate Crisis Advisory Group to advise and warn global policymakers about the climate. While carbon mitigation is a key component of decarbonization strategies, the group will also focus on removing carbon and repairing natural systems to buy humans more time.


The global voluntary carbon market could be worth $50b by 2030. So far this year, the volume of the most liquid carbon credit exchange, Xpansiv CBL, saw more than 30 million tons of CO2 traded emission, nearing the all time record of 31 million tons.


?️ Techstars Sustainability Roundtable: Join on July 15th for a discussion with Amazon, Spotify, and Climate Finance Solutions on ways decarbonization startups can secure funding from leading practitioners in the sector.


? The Clean Fight: New Energy Nexus and NYSERDA are partnering for the second edition of The Clean Fight, a non-profit accelerator focused on building decarbonization. Apply by July 18th.


\uD83D\uDCA8 Sendle, an Australia- and Seattle, WA-based shipping carrier focused on carbon neutrality and small business, raised $35m in Series C funding from AP Ventures, Federation, Full Circle, and NRMA.


\uD83D\uDCA8 Aeroseal, a Dayton, OH-based developer of building seals to reduce carbon emissions, raised $22m in Series A funding from Breakthrough Energy Ventures, Energy Impact Partners, and Building Ventures.


\uD83D\uDCA8 Holy Grail, a Mountain View, CA-based startup prototyping a small and modular direct air carbon capture device, raised $2.7m in Seed funding from LowerCarbon Capital, Goat Capital, Stripe founder Patrick Collison, Charlie Songhurst, Starlight Ventures, 35 Ventures, Deep Science Ventures, Y Combinator, and others.


Recognizing that maritime shipping accounts for 3% of global emissions, the International Maritime Organization (IMO) adopted key mandatory measures to reduce ships\u2019 carbon intensity and established a rating system for a ship\u2019s operational carbon intensity.


UPS delivered three new targets to meet the company\u2019s net-zero emissions by 2050. While the package delivery company aims to cut package emissions by 50% and power their vehicle fleet and facilities with renewables, UPS\u2019 hardest target will rely on taking a leap in decarbonizing air fleet emissions.


Look out for floods of capital flowing into even bigger climate tech funds soon. TPG is raising a $5b climate-related fund. Chris Sacca\u2019s Lowercarbon Capital is raising $830m across a flagship fund and an opportunities fund. 041b061a72


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