Binding Solutions develops technology to decarbonize steel production by reducing energy usage by up to 80% and carbon dioxide emissions by 70%. Their approach enhances operational performance and significantly lowers capital expenditures, making green steel production viable at scale.
Funding
$31.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The steel industry faces increasing pressure to reduce its carbon footprint due to its high energy consumption and significant carbon dioxide emissions during production. Traditional steelmaking processes are environmentally unsustainable and require substantial capital expenditures.
Solution
Binding Solutions offers a technology to decarbonize steel production by significantly reducing energy usage and carbon dioxide emissions. Their approach focuses on enhancing operational performance and lowering capital expenditures, making green steel production economically viable at scale. The technology improves financial and operating performance while delivering environmental benefits across the iron ore and steel production chain.
Target Audience
The primary target audience includes steel manufacturers seeking to reduce their environmental impact and improve operational efficiency, as well as iron ore processing plants.
Features
- Reduces energy usage by up to 80%.
- Decreases carbon dioxide (CO₂e) emissions by up to 70%.
- Lowers capital expenditures (capex) by up to 86%.
- Cold agglomeration pellet technology.