ZUR
YIGAL, Israel,
Sept. 17,
2024 /PRNewswire/ -- Helios Project Ltd.,
developer of the Helios Cycle™, a novel process to produce iron and
other metals using sodium as a reducing agent with less energy and
no direct carbon emissions, has signed a Memorandum of
Understanding (MoU) with BlueScopeX Pty Ltd, a subsidiary of
BlueScope Steel, a global steel manufacturer headquartered in
Australia.
This MoU aims to demonstrate the use of our Helios Green Iron
(HGI™) in parts of BlueScope's steelmaking operations. The initial
phase of this collaboration will involve a pilot project where
Helios will provide HGI™ produced by its pilot plants using its
proprietary technology, starting in 2026.
"We are excited to partner with BlueScopeX to demonstrate the
use of Helios Green Iron in their steelmaking operations," said
Jonathan Geifman, CEO and co-founder
of Helios Project Ltd. "This collaboration represents a significant
milestone for our development and hints at the future of the global
steel industry, with the adoption of new emerging sustainable
innovations like the Helios Cycle™."
"Decarbonizing the steel industry is an incredible challenge and
we are thrilled to collaborate with companies like Helios that
could support us on our journey" said Andrew Garey, Chief Executive of BlueScope's
venture fund, BlueScopeX.
Helios, founded in 2018, began as a space tech company with the
mission to extract oxygen from the moon. It has since developed the
Helios Cycle™, a technology that uses sodium to produce iron from
iron ore and other metals, emitting only oxygen. This innovation
seeks to support the steel industry's decarbonization efforts by
developing cost-effective green iron production from various iron
ores, including low-grade ones. Helios, an affiliated member of the
World Steel Association, seeks to address the global steel
industry's challenge of finding sustainable alternatives to coal,
and producing green iron sourced from various types of iron ores,
including low-grade ores and tailings. Nearly 2 billion tons of
steel are produced annually, contributing to almost 10% of global
CO2 emissions.
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SOURCE Helios