Electra secures $30 million venture debt facility from J.P. Morgan for clean iron production

Clean iron producer Electra secured a $30 million venture debt facility from J.P. Morgan to advance its first commercial facility. This funding supports Electra's low-temperature electrochemical process for refining iron ore using renewable energy, aiming to scale its operations and reach commercial scale by the end of the decade. The company also recently announced the site for its new 130,000 square foot demonstration facility in Jefferson County, Colorado, anticipated to begin operations in mid-2026 and produce up to 500 metric tons of low-carbon iron annually.

Counterparts (2)

Lender

J.P. Morgan

company

J.P. Morgan is a global financial services firm and investment bank with over $3 trillion in assets under management, providing comprehensive financing, advisory, and asset management services across the infrastructure sector worldwide. Its infrastructure investment platform focuses on renewable energy, digital infrastructure, and transport assets.

Developer

Electra

company

Electra is a company focused on revolutionizing EV charging through a fast and seamless charging experience. They aim to deploy a large network of fast charging stations, primarily in urban areas and along major roads.