Hertha Metals receives funding to produce high-purity iron

Startup steelmaker Hertha Metals has secured $133.65 million in its Series A round of funding, including a $65 million equity investment from the US government.

The Conroe, Texas-based company said the funding will finance the construction of Hertha Chalyx, its new facility that plans to produce 10,000 metric tons (mt) of steel-grade and magnet-grade high-purity iron.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

Latest in Company Announcements

SMU Daily Digest reminder and what’s ahead for our newsletters

USS earmarks $28.3M for upgrades at Great Lakes Works in Michigan

Reminder: SMU Daily Digest Newsletters starting mid-October

Trump announces $15B Mesabi Metallics steel plant in Iowa