BOULDER — Electrasteel Inc., a developer of a more-sustainable iron and steel production process that does business as Electra, has hired James Rutland as chief financial officer.
Rutland most recently held the same position at the Swedish green-battery producer Northvolt AB.
“The market for clean iron, essential for green steel production, is expected to grow over 30% by 2050 as global demand for sustainable infrastructure increases,” Rutland said in a prepared statement. “This substantial market growth, coupled with Electra’s innovative technology, presents an incredible opportunity to deploy creative financing, business, and partnership models to realize Electra’s vision to build a green future from the ground up.”
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Electra has also hired Steve MacManus as vice president of engineering.
“We welcome James and Steve to the team at this crucial inflection point of growth for our business,” Electra CEO Sandeep Nijhawan said in a statement. “Their extensive leadership experience will accelerate our mission to responsibly and resourcefully produce high-value, low-environmental impact iron and minerals to build a green future.”