We pave the way for a circular paradigm
It´s high time for the historically deep-rooted, linear logic of the metals and mining sector to be transformed. We want to pave the way for a circular paradigm by recycling valuable commodities from residues and waste. With the goal of radically reducing the entire industry’s climate footprint.
We want to contribute to creating a completely CO2-free value chain, from the extraction of ore to the production of steel and various metals. If our industry is to succeed in this, we see it as unavoidable that the flow of metals from the mine to the landfill are replaced by recycling. Unlike the majority of natural resources, metals don´t lose quality by being used, ground down, melted or dissolved. They can always be reset and regain their original properties an infinite number of times.
Our customer groups
Our customer as well as supplier group is the mining, steel, foundry and manufacturing industries. As a part of the recycling industry we can take by-products, such as residuals and waste, from the industry and turn them into usable metals again. With our disruptive, CO2-free technology we truly believe we can create a new green business segment in the existing metals and mining market.
GreenIrons Value Proposition
Our mission is to contribute to a historic reduction in carbon dioxide emissions from the production of iron, steel and non-ferrous metals – a sector that accounts for no less than 7% of the global greenhouse gas emissions.
These are the values we promise to deliver to our customers in order to fulfill the objective of building a cleaner future for our planet.
- We use non-fossil hydrogen as reducing agent. This means that water becomes the only by-product, instead of the current, constant emissions of carbon dioxide. In hard facts, this means that a GreenIron furnace is expected to reduce carbon dioxide emissions by approx. 56,000 tons/year.
- The metals and mining industry often considers residuals as waste in the production process, which is commonly encapsulated in landfills or become slag heaps. With our disruptive, green technology we can recycle these valuable commodities.
- Our business model is focused on recycling of metals and minerals, to reduce unsustainable mining of finite natural resources.But our scalable technology also allows processing of virgin raw materials into pure metals. This is to meet the increased demand for both base metals and critical minerals, due to the necessary, global green transition.
- Our technology is energy efficient as we base it on three of the four natural laws. By installing multiple furnaces on one site, heat and gas can be recycled between different furnaces. The heat and gas from one process can therefore be recycled to the next process with minimal waste.
- Our process is a closed system which is internally circular. The incoming gas is heated by the outgoing gas and is recirculated within the system. This means the hydrogen consumption is minimal in the process and decreases the energy costs.
- The main operational cost is the production cost of hydrogen gas. The consumption of hydrogen is related to the input material, its amount, and gas leakage/waste, which is kept to the minimum though the technological design.
- The technological design enables utilisation of natural forces, such as gravity, temperature and pressure differences to efficiently circulate gases within the chamber.
- The process is cycle-based, which makes it possible to produce exact amounts of a specific material and vary the input material from batch to batch. In other words, the first batch can have oxidized scale-based pellets, the second grinding swarf, the third magnetite, etc. Therefore production of pellets with specific alloys at small cost is possible.
- Our production process is scalable, which is one of our most sustainable advantages in a new, growing market. We can adapt the capacity entirely to our customers’ needs.Be it a single furnace to e.g. 10 interconnected furnaces. In practice, this example implies an option for our customers to process from 40,000 to 430,000 tonnes of oxidized material/year, which results in lower energy costs per metal produced.
- The possibility of small-scale solutions means that our furnaces can be placed locally, in connection with steel and rolling mills, foundries, mines, etc., just about anywhere on our globe. This will mean a radically reduced need for energy-consuming transports in the industry.
- Our process is both energy efficient and profitable for many metals, such as copper or other metals. Due to the modularity of our solution, the threshold for investing in a first furnace is low. After that, it is possible to invest in a 2nd, 3rd furnace, etc. to gradually reduce emissions of carbon dioxide and to become more circular. In other words, the GreenIron technology can be a profitable ”grow into”.
- The profitability when reducing iron is proportional to the main operating cost, the cost of hydrogen. As the price of hydrogen decreases, the overall profitability of our process will increase.
- The most important driving force in our energy-efficient technology is that we use three laws of nature.This means that the temperature is relatively low throughout the process.Several furnaces in one location enable energy sharing, which means that costly energy consumption can be reduced.