JPMorgan backs clean iron startup Electra with $30M in new capital

JPMorgan backs clean iron startup Electra with $30M in new capital

The new funding will help the startup accelerate progress toward its first commercial facility and scale its overall business.

Electra Receives $30 Million Venture Debt Facility From J.P. Morgan

Electra, a Colorado-based startup focused on producing clean iron through an electrochemical process that refines low grade iron ore at low temperatures using renewable energy, has secured $30 million in venture debt from J.P. Morgan. This funding represents the company’s most recent capital raise and is aimed at advancing its commercialization efforts in the decarbonization of steelmaking. The $30 million comes in the form of a venture debt fac…