Helios Project Ltd., the developer of the Helios Cycle, a novel process to produce iron using sodium as a reducing agent with no direct carbon emissions, has signed a Memorandum of Understanding (MoU) with BlueScopeX Pty Ltd, a subsidiary of global steel manufacturer BlueScope Steel. This partnership aims to explore the use of Helios Green Iron (HGI™) in BlueScope’s steelmaking operations as part of their decarbonisation efforts.
The collaboration will begin with a pilot project in 2026, where Helios will provide HGI™ produced through its proprietary technology. This green iron production method involves using sodium to produce iron from iron ore and other metals, emitting only oxygen, thus reducing carbon emissions. This can be used as a sustainable alternative to conventional steel production methods.
Jonathan Geifman, CEO and co-founder of Helios Project Ltd., expressed excitement about the partnership, stating, “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™.”
BlueScopeX, which manages BlueScope Steel’s venture fund, sees this partnership as an essential step in reducing the steel industry’s carbon footprint. “Decarbonising 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 BlueScopeX.
Founded in 2018 with a mission to extract oxygen from the moon, Helios has since adapted its technology to address the steel industry’s decarbonisation challenge. Its process uses sodium to produce iron from various iron ores, including low-grade ores, with oxygen as the only by-product. As the global steel industry produces nearly 2 billion tons of steel annually, contributing almost 10% of global CO2 emissions, innovations like the Helios Cycle™ offer a path toward more sustainable production.