Hertha Metals raised over $17 million in funding from multiple investors to develop a breakthrough process for more efficient steel and high-purity iron production.

Hertha Metals has validated a significant technology breakthrough in steelmaking, enabling cheaper and more energy-efficient production. The company raised over $17 million to build and demonstrate a pilot plant. This funding marks a crucial step in enhancing the production capabilities of steel and high-purity iron, essential for various industries. With the new process, Hertha aims to onshore steel and rare earth magnets manufacturing in the U.S.