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United States · Industrial tech · Climate tech · Defense tech
Develops a continuous process for producing iron and steel from different ore grades using natural gas or hydrogen.
Hertha Metals' Flex-HERS process replaces the conventional multi-step blast-furnace route with a continuous reactor. The process can use different grades of iron ore and natural gas or hydrogen as the reducing agent, giving producers flexibility over feedstock and fuel.
The company operates a demonstration facility in Conroe, Texas, and is qualifying as a supplier to US rare-earth magnet manufacturers. Its next commercial facility is planned to produce both steel-grade and magnet-grade high-purity iron, connecting the technology with two distinct industrial supply chains.
| Announced | Round | Amount | Investors |
|---|---|---|---|
| Series A | $133.7M | Doerr Capital — LeadKhosla Ventures — LeadCEV — ParticipantGates Frontier — ParticipantNiterra SUISO no MORI Fund — ParticipantPear Ventures — ParticipantSiemens Financial Services — ParticipantToyota Ventures — ParticipantU.S. Government — Participant |