Workflow
Environmental attribute credits
icon
Search documents
Sustainable startup Electra inks deals with Meta, others to scale low-carbon iron
Yahoo Financeยท 2025-10-21 13:00
Group 1 - Meta has entered into an agreement to purchase environmental attribute credits from Electra, marking a first for the company [3][7] - The agreement aligns with Meta's goal to achieve net-zero emissions across its supply chain by 2030 [3] - Electra is set to build a 130,000 square foot demonstration facility in Colorado, supported by a $50 million grant from Breakthrough Energy Ventures, expected to be operational by mid-2026 [6][7] Group 2 - Electra's technology utilizes a low-temperature process to produce low-carbon iron, compatible with renewable energy sources [5] - The facility will have the capacity to produce up to 500 tons of low-carbon iron annually, with contracts already in place for various steel applications [7] - Electra has secured advance purchase agreements for its iron product from Nucor and Toyota Tsusho [7]