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Select Quotes From This Episode:
“By 2050, we are expected to again grow this market by a third, — 30 % for a commodity product. That is massive amount of growth.” –Sandeep
“Our iron making process actually operates at 60 degrees Celsius... that lower operating temperature... allows us to seamlessly integrate with intermittent energy resources, like wind and solar.” –Sandeep
“90 % of those steel emissions actually come from making iron. And that’s where we come in, and what we are trying to address is how do we get to pure metallic iron” –Sandeep
“The demand for steel is not going down. In fact, it’s the backbone of our modern world.” –Sandeep
“In the US, 70 % of the steel gets made through an electric arc furnace steelmaking process. We are a developed nation that has been recycling steel.”
–Sandeep
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Hey everyone, welcome back to the podcast where we talk to founders, investors, and leaders building the future of climate tech. I’m Silas Mähner, the host of CleanTechies (and your favorite clean tech headhunter), and today we’re diving into one of the biggest climate opportunities, clean steel.
If steel were a country, it’d be the third largest emitter in the world, right behind China and the U.S. And 90% of those emissions come from one step — ironmaking.
That’s exactly where Electra comes in. Co-founded by Sandeep Nijhawan, Electra is rethinking how we make iron from the ground up, literally. Instead of melting ore in a 1600°C blast furnace, they’re doing it at 60°C using a unique process.
Think about that for a second: they’re turning iron ore into pure metallic iron without the heat, smoke, or fossil fuels that have defined the industry for centuries.
That shift paves the way to a few massive advantages, such as slashing energy use and cost, and it works with intermittent renewables like solar and wind. It can also process low-grade ores that miners usually throw away, turning waste into value.
Let me say that last part again — they can use low-grade ores that are usually THROWN AWAY! Those piles are just sitting there ready to be scooped up and sold to steel producers.
Sandeep also talks about the economics of clean iron, how Electra’s modular design lets them scale like solar, and how they’re partnering with major players in steel and mining to prove that clean iron can be cost-competitive today.
We also get into:
How the automotive and data center industries are driving demand for low-carbon steel.
What it takes to innovate in a commodity market where “cost parity” is king.
Why Sandeep focused early on building a “minimum viable ecosystem”
And what it means to be intentional about your team, investors, and mission when you’re building something this big.
This episode is a masterclass in scaling deep tech and rebuilding the raw materials that make our world. So, if you’ve ever wondered how we’ll clean up one of the dirtiest industries on Earth, this conversation is going to open your eyes.
P.S. Big things are coming from CleanTechies and ErthTech Talent this quarter, stay tuned for updates, and make sure you’re subscribed so you don’t miss a thing.
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📝 Show Notes:
Topics
Here are some key timestamps from the episode:
04:20 What is Electra doing?
10:10 What percentage of the steelmaking process is emissions from iron?
11:50 Licensing or producing?
14:10 How is their technology cheaper?
18:20 Supply of ores
23:10 Will their technology make it easier to run steel mills?
27:10 How many new steel mills have been built in the last decade
28:15 Expediting permitting processes with their technology
35:55 How do you innovate in a commodity market?
46:40 Core Lessons for Fundraising
55:42 Team building and The First Hires of the Company
1:00:47 Having the IP for the next fundraising round
1:01:49 How did the team come together: Finance, technology, and business expertise
1:04:15 How do they build something this complicated?
1:07:02 Conclusion
Links
Connect with Somil on LinkedIn | Connect with Silas on LinkedIn
This podcast is NOT investment advice. Do your homework and due diligence before investing in anything discussed on this podcast.
