Forging Sustainable Steel with Electra

In this episode, Sandeep Nijhawan and Quoc Pham, founders of the startup Electra, talk to Cody about tackling the complex issue of steel decarbonization. Steel production is a formidable contributor to global emissions, accounting for nearly four gigatons annually, equivalent to approximately 8-10% of total global emissions. To put it in perspective, if steel were its own country, its annual emissions would rank third globally, following only China and the USA. The conversation dives into the intricacies of current steel production, shedding light on how the US approach differs from much of the world. The US has a head start on the path toward steel decarbonization, featuring fewer coal-based blast furnaces and substantial installed electric arc furnace capacity. The episode also explores various pathways for steel decarbonization, including point-source carbon capture and hydrogen utilization, and introduces Electra's pioneering electrochemistry method. Electra announced an $85 million funding round in Q4 2022, with participation from renowned climate tech investors and industry leaders, including Breakthrough Energy Ventures, Amazon, and many more. Sandeep and Quoc are tackling one of the hardest problems in climate change head on. Time will tell if it works, but they certainly aren't shying away from the challenge.