The Green Steel Challenge

Iron ore resources in the US are mainly low-grade taconite-type ores that require beneficiation and agglomeration to make them commercially viable for steel production. As such, around 70% of the country’s steel production comes from scrap, while the rest is increasingly relying on imports.

According to Laureen Meroueh, founder and CEO of Hertha Metals, there is another way. The Texas-based startup, which closed a $133.6 million Series A funding in September 2026, has developed a proprietary platform technology powered by natural gas, hydrogen, and electricity to enable steel production from any grade of iron ore or waste oxide, including fines and lumps.

In this episode of The Green Steel Challenge, Laureen tells co-hosts Astrid Korf and James Moss about Hertha Metals’ plans for the future of reaching 2 million tonnes/year capacity. Delving deeper into how the technology works, she explains why the company decided to specialise in high-purity iron for rare earth magnets, one of the fastest-growing markets in the US as it decouples from the Chinese supply chain.

Access our comprehensive Green Steel Glossary at Kallanish Commodities.
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The European steel industry is facing an existential crisis: energy prices are high, demand from key sectors is weak, and cheap imports are affecting competitiveness. How can decarbonisation go ahead in these challenging conditions?

In the first episode of Season 4, we sit down with Stefan Rauber, CEO of Saarstahl and chairman of the SHS - Stahl-Holding-Saar GmbH & Co. KGaA group, which has embarked on a €4.6 billion programme to shift toward green steel by building two electric arc furnaces and a DRI plant, alongside increased use of hydrogen.

In conversation with The Green Steel Challenge co-hosts, Astrid Korf and James Moss, Stefan talks through the company's decarbonisation plans and how it's leaning into its multi-century experience to build the steel industry of the future. The discussion covers European carbon policy, the green steel premium, decommissioning, and buyers' demand for low-carbon products, finding an answer to a difficult question: is it economically worth it?

Access our comprehensive Green Steel Glossary at Kallanish Commodities.
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As season 3 of the Green Steel Challenge draws to an end, join Astrid, James and Mike as they reflect on the highlights.

Since January, a lot of ground has been covered through an eclectic mix of industry perspectives, from Tata Steel’s view on electrification and wider system change, to geologic hydrogen with Koloma, advanced nuclear power with newcleo, and the growing strategic value of scrap in the steel transition.

With insights from leaders at U. S. Steel, Vale, UK Steel and others, the second half of the season has examined the practical business strategies, policy choices, and technology pathways shaping the future of steel.
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Marcel Genet, Independent Steel & Metals Consultant and Founder & Managing Director, Laplace Conseil in Neuilly, France. Marcel has been a consultant in the steel industry for 47 years, first with McKinsey & Company, where he built and led the Firm’s Global Steel Practice. 1995, he founded Laplace Conseil, a boutique strategy firm, where he has predominantly worked with the scrap recycling and EAF minimill sectors.

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Gareth Stace, Director General of UK Steel, the voice of the UK steel industry.

Gareth represents producers at a critical moment, where competitiveness, energy costs, and decarbonisation are colliding

From policy and trade to the realities of transitioning legacy assets, he sits right at the intersection of industry and government, helping shape what the future of British steel will look like.

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