Submitted by MrMike t3_10odjxn in technology
londons_explorer t1_j6h7wrf wrote
Reply to comment by Lumpyyyyy in Green steel startup Boston Metal raises $120M for its fossil-free tech by MrMike
The energy requirements are much higher than just melting... The main energy consumer is removing the oxygen
danielravennest t1_j6j66zg wrote
The energy of formation of Iron III Oxide is 5.16 MJ/kg or 1433 kWh/ton. Actual energy needed depends on the efficiency of the process, including heat losses.
Wholesale solar and wind range from $26-50/MWh x 1.433 MWh/ton = $37-72/ton. Since steel goes for ~$750/ton these days, power cost is not a show-stopper at reasonable efficiency.
londons_explorer t1_j6jjd5p wrote
My maths comes up with a different result, although the conclusion is the same.
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