’Steel is the most recycled material in the world’ is a beautiful premise, until you discover that the quality of the material decreases significantly. Something more accurately named ‘downcycling’.
The reason for that? In many products, steel is contaminated by tramp elements that originate from copper wires in appliances. This leads to defects in the final product, made of recycled steel, making the whole process economically unsuitable.
So it is time to reinvent scrap steel, upgrade the end-of-life and come up with a high quality feedstock. Chrysalix is looking for start-up-worthy solutions to decarbonise the steel-industry, they are ready to invest $1m+ together with their famous venture wisdom. And that’s all in addition to the prize money that is $250k.
Solve this challenge now and join the innovators community on their website.