Colorado gives $8 million tax credit to fuel “clean iron” plant in Jefferson County
By Michael Booth | Colorado Sun
A Boulder company with a patented method to take most of the carbon emissions out of the energy-intensive iron and steelmaking process will use $8 million from the inaugural state industrial tax credit to build a manufacturing plant in Jefferson County, officials said Tuesday.
The patented process produces “clean” industrial iron at the temperature of a cup of coffee, rather than the 1,200-degree Fahrenheit furnaces traditionally used in iron and steelmaking, according to Electrasteel Inc, known as Electra. Currently employing more than 130 people, Electra uses an electrochemical process and hopes to cut 30% or more of the carbon emissions from traditional production.
“We founded Electra here in Colorado to decarbonize a carbon-heavy industri...
