Anglo American and Deep Science Ventures are backing the development
Ironic Metals, developers of a novel electrolyser for clean metal production, has received investment from Anglo American and Deep Science Ventures (DSV)
Ironic Metals is working to develop technology that can produce high-purity green iron and nickel utilising renewable electricity, targeting production costs as low as $400 per tonne for high-purity iron and eliminating the "green premium" that has constrained industrial decarbonisation.
The company is designing low-temperature alkaline electrolysis systems which can produce several metals, including iron and nickel, with the potential to double the energy efficiency of traditional blast furnaces. The process has been created to ramp dynamically with renewable power; the technology aims to provide near-zero-emission metals.
Led by Mike Woodcock, CEO of Ironic Metals, and Dr Jim Hickey, the company has already built its first electrochemical test cell, demonstrating the electrochemical reduction of iron oxide as well as establishing key performance baselines.
Ironic Metals is optimising the process chemistry and electrode design by working with academic experts and global leaders in the mining and steel-making industries. The company also have support from UK government funding and plans to create a pilot manufacturing cell in early 2026.
Woodcock said, “Iron and nickel underpin almost every major industry, yet their production methods have hardly changed in a century. Having Anglo American as an investor and other mining leaders on our advisory board shows how urgently industry needs a cleaner, more flexible way to make these essential materials.”
Matt Walker, CEO of Anglo American’s Marketing business, said, “Anglo American has long sought to help decarbonise the steel-making sector, from providing our premium iron ore to global steelmakers, to investing in our Ubuntu fleet of LNG dual-fuelled bulk ore carriers. Our investment in Ironic Metals aligns with our ambition to reduce our Scope 3 emissions and help catalyse a lower carbon steel-making industry through the power of innovation and partnership.”
Noah Geeves, head of Portfolio and Partnerships, Climate, DSV, said, "Ironic Metals is addressing a critical bottleneck in the decarbonisation of the steel industry. Current steel decarbonisation technologies are fundamentally constrained by cost, flexibility, or scalability. Ironic’s next-generation electrolysis provides the breakthrough: the most credible pathway to cost-competitive green iron and, ultimately, the reshaping of low-carbon steel economics. We have the most confidence in Mike and Jim behind the wheel, who bring decades of experience and relevant expertise to the table."
