Israeli start-up Helios secures $6 million in seed funding, on the path to develop onsite resources for the Moon, while its scientists find approach to green iron production – at 20% lower cost.
Israeli space tech startup Helios has announced a recent infusion of $6 million will help fund its ambition to create an emission-free future for the steel industry.
Current methods of steel production emit large quantities of carbon dioxide through the reduction of iron ore with carbon. Each ton of steel produced results in the emission of approximately two tons of CO2, making the industry responsible for 8% of humanity's carbon footprint.
But Helios scientists have discovered that the technology created for the reactor it has developed to extract oxygen and iron from regolith could also be used to extract 99% pure iron from iron ore, using an entirely novel chemical process. The method requires 50% less energy than what is currently used in the industry, while operating at temperatures so low that a household oven would suffice to initiate the process.
Source: Israel Today