Colorado-based Electra, backed by Breakthrough Energy Ventures, Amazon, and Bill Gates, has proposed building a $910 million “clean iron” plant in Canada. In a pre-budget submission to Ottawa, the company said the factory would create hundreds of jobs and strengthen the domestic steel supply chain. Electra is urging the federal government to extend tax incentives to its projects.
Lobbying records show Ontario and Quebec are under consideration. With investors including Rio Tinto, BHP Ventures, and Toyota Tsusho, Electra claims its process cuts emissions in ironmaking while supplying steelmakers, automakers, and renewable projects. Location details remain undisclosed.
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