Hertha Metals raises $133.65 million in Series A
The Texas company is scaling a continuous ironmaking process designed to serve steel production and rare-earth magnet supply chains.
A continuous route to high-purity iron
Hertha Metals' Flex-HERS process uses a continuous reactor to replace the conventional multi-step blast-furnace route. It can work with different grades of iron ore and use natural gas or hydrogen as the reducing agent. The company operates a demonstration facility in Texas and is planning Hertha Chalyx, a commercial plant intended to produce both steel-grade and magnet-grade high-purity iron.
Use of funds
Construct Hertha Chalyx, a plant designed to produce steel-grade and magnet-grade high-purity iron
Scale domestic iron and steel production for steel producers and rare-earth magnet manufacturers