Helios
Helios is an Israeli clean-tech company developing the Helios Cycle™, a sodium-based zero-emission metal reduction platform producing green iron for steelmakers, lunar oxygen for space applications, and critical metals from low-grade ores.
- Company typePrivate
- Founded2018
- HeadquartersKokhav Ya'ir, Israel
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Helios does
Helios Project Ltd. is an Israeli clean-chemical-technology company founded in 2018 that has developed a proprietary sodium-based closed-loop metal reduction process known as the Helios Cycle™. The technology was originally developed to extract oxygen from lunar regolith for space applications but, during research, the team discovered the same chemistry could be applied to terrestrial iron and steelmaking, producing zero direct carbon emissions at operating temperatures of 250–350°C — approximately 30% lower energy consumption than traditional blast furnace or DRI processes, and at projected unit costs 30% below current industry economics ($250–$350 per 1,000 kg of iron). The platform also accepts low-grade iron ores (50–62% Fe) and tailings (<50% Fe) without pre-processing, addressing a key structural constraint in the steel supply chain.
The company operates three product lines from this single technology platform: Helios Green Iron (HGI™), a decarbonized feedstock for steel manufacturers designed to integrate with existing DRI furnace infrastructure and enable compliance with EU ETS, CBAM, and EU Taxonomy requirements; Lunar Oxygen, an in-situ resource utilization solution for space agencies and commercial space companies developing cislunar infrastructure; and Critical Metals, a sustainable extraction process for copper, cobalt, lithium, nickel, and silicon from low-grade deposits and tailings. Its customer base is concentrated among large integrated steel manufacturers, with BlueScopeX (a subsidiary of BlueScope Steel) as the first publicly disclosed pilot partner under a September 2024 MoU targeting pilot plant startup in 2026 and first commercial units around 2028.
Helios generates revenue through three planned streams: direct sales of HGI from its own pilot and commercial plants, licensing of the Helios Cycle technology to steel manufacturers for integration into their own facilities, and sale of Verified Emission Reductions under voluntary carbon market methodologies including Article 6 of the Paris Agreement and CORSIA. Go-to-market is enterprise-led and engineering-driven, anchored by an MoU with BlueScopeX, affiliated membership in the World Steel Association (the first non-steelmaker technology company admitted), selection for DARPA's LunA-10 lunar architecture program, and recognition as a World Economic Forum UpLink Sustainable Mining Challenge winner. The company is headquartered in Tel Aviv/Petah Tikva, Israel, with operations spanning Israel, Australia, and the United States, and is backed by strategic investors including Anglo American, At One Ventures, Doral Energy-Tech Ventures, Metaplanet, and Rhodium, alongside $2M in non-dilutive funding from the Israel Innovation Authority.
Helios firmographics
Firmographics- Name
- Helios
- Legal name
- Helios Project Ltd.
- Website
- https://heliosmatters.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Helios is an Israeli clean-tech company developing the Helios Cycle™, a sodium-based zero-emission metal reduction platform producing green iron for steelmakers, lunar oxygen for space applications, and critical metals from low-grade ores.
- Ownership category
- akta.pro rank
Helios industry classification
Industry- Product category
- Green Steel / Sustainable Iron Production
- NAICS
- Primary Metal Manufacturing (331), Iron Ore Mining (212210), Nonferrous Metal (except Aluminum) Smelting and Refining (33141)
- SIC
- Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) (3312), Primary Smelting & Refining Of Nonferrous Metals (3330), Metal Mining (1000)
- akta.pro primary industry
- Direct Reduced Iron (DRI) & Hot Briquetted Iron (HBI) Production (IMAKABAC)
- akta.pro secondary industries
- Rare Earths Separation & Refining (Oxides/Metals) (IMAKAFAH), Electric Arc Furnace (EAF) Steelmaking (Incl. DRI/HBI-Based) (IMAKABAB)
Keywords
Where Helios is headquartered
LocationHeadquarters
- HQ city
- Kokhav Ya'ir
- HQ country
- Israel
- HQ region
- Middle East
Offices3 records
Markets served
Helios business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Green Iron (HGI™) Sales: Helios plans to sell Helios Green Iron (HGI™) produced at its pilot plants to steel manufacturers. The pilot plant (several thousand tons per year capacity) is scheduled to begin operations in 2026. HGI serves as a decarbonized feedstock for steelmaking, replacing coal-based pig iron.
- Technology Licensing: Helios licenses its Helios Cycle™ technology to steel manufacturers, enabling them to integrate the process into their own production lines. This allows full-scale deployment at customer sites and generates licensing/royalty revenue. The modular furnace design enables integration with existing DRI furnaces.
- Voluntary Carbon Credits: HGI production can generate Verified Emission Reductions under voluntary carbon market methodologies, creating an additional revenue stream through sale of carbon credits. Specific methodologies for the Helios Cycle are being developed and can potentially be traded under Article 6 of the Paris Agreement and CORSIA.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Expected operating cost of Helios Cycle is $250–$350 per 1,000 kg of iron — 30% lower than current industry costs |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Helios product offering
Product offeringCore offering
Helios develops and commercializes the Helios Cycle™, a proprietary sodium-based closed-loop metal reduction platform that extracts iron and other metals from ore at 250–350°C with zero direct carbon emissions. The company produces Helios Green Iron (HGI™) as a decarbonized feedstock for steelmakers, and applies the same platform to lunar oxygen extraction and critical metals (copper, cobalt, nickel, lithium, silicon) processing. Helios sells HGI from pilot plants, licenses the technology to manufacturers, and participates in space programs such as DARPA LunA-10.
Product overview
Helios offers a unified technology platform anchored by the Helios Cycle™, a sodium-based reduction process that extracts metals from ore with zero direct carbon emissions. The platform supports three integrated solutions: Helios Green Iron (HGI™) for the steel industry, Lunar Oxygen for space applications, and Critical Metals processing for battery and electronics supply chains. The technology operates at lower temperatures (250-350°C) than traditional methods, uses 30% less energy, and can process low-grade ores that are unsuitable for conventional steelmaking.
Differentiator
Problem solved
Functional benefit
Brands
- Helios Cycle: Proprietary sodium-based reduction process for metal production that emits only oxygen, used for both lunar oxygen extraction and green iron production on Earth
- Helios Green Iron (HGI)
Products and services
- Helios Cycle™ A proprietary sodium-based closed-loop metal reduction platform that extracts iron and other metals from ore at 250–350°C with zero direct carbon emissions. Uses sodium as the reducing agent in the first step and dissociates sodium oxides in a second step to reclaim sodium for reuse. Sold to steel manufacturers for integration into existing DRI furnaces.
- Helios Green Iron (HGI™) Decarbonized iron produced using the Helios Cycle™ technology, serving as a feedstock alternative to coal-based pig iron for steel manufacturers. Enables compliance with EU ETS, CBAM and EU Taxonomy requirements while avoiding carbon pricing.
- Lunar Oxygen Technology for extracting oxygen from lunar regolith to support life support systems and provide rocket propellant oxidizer, reducing the cost of space missions by eliminating the need to transport oxygen from Earth. Uses molten regolith electrolysis to separate oxides into oxygen and metals such as iron, aluminum and titanium.
- Critical Metals Processing Sustainable extraction and processing of critical and rare earth elements including copper, cobalt, lithium, nickel and silicon using the Helios Cycle™ platform. Targets battery, semiconductor and clean energy supply chains and enables processing of low-grade deposits and tailings previously considered uneconomical.
Quantifiable outcome
- 30% lower energy consumption and 30% lower operating costs compared to traditional iron production methods
- +5 more outcomes
Companies that use Helios
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Helios technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Helios partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- DARPA (LunA-10 Program)coreSelected as a key participant in the DARPA LunA-10 program, which seeks to transform the Moon into a commercial hub by developing a unified lunar infrastructure. Helios contributes oxygen extraction technology for the lunar ecosystem. Helios is the only international (Israeli) company among the 14 selected companies in LunA-10. Included in DARPA's Commercial Lunar Economy Field Guide.
- BlueScopeX (subsidiary of BlueScope Steel)coreSigned MoU to demonstrate the use of Helios Green Iron (HGI) in BlueScope's steelmaking operations. Initial phase involves a pilot project where Helios will provide HGI produced by its pilot plants, starting in 2026. Represents a significant milestone and hints at the future of the global steel industry with adoption of sustainable innovations like the Helios Cycle.
- Eta SpacecoreCollaboration to create a Lunar Oxygen Station for space exploration. Eta Space and Helios are working together with Space Florida under the Israel Innovation Authority grant to develop lunar oxygen extraction technology. The partnership aims to demonstrate oxygen production from lunar regolith as part of the broader lunar infrastructure ecosystem.
- Space FloridacoreCollaboration with Eta Space and Helios to create a Lunar Oxygen Station for space exploration. Space Florida provides launch and infrastructure support as part of the lunar oxygen development effort funded by the Israel Innovation Authority.
- World Steel Association (worldsteel)coreHelios joined as an affiliated member in April 2023. It is the first and only technology company accepted as a member that is not a steelmaker. Membership provides access to industry dialogues, major events (Breakthrough Technology Conference), and collaboration with global steel producers. Marks a significant milestone in Helios' journey to decarbonize the steel industry.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Helios competitors and assessment
Company assessmentBroad incumbents
- Nucor: Nucor is the largest US EAF-based steelmaker and a major producer of DRI feedstock. It is a likely potential licensing/offtake customer for HGI and a benchmark for EAF-based decarbonization competitors.
- ArcelorMittal: ArcelorMittal is the world's largest steelmaker and is investing heavily across multiple green-steel pathways (hydrogen DRI, EAF, carbon capture). It is both a potential anchor customer for Helios licensing and a competitor developing its own decarbonization technologies.
- Cleveland-Cliffs: Cleveland-Cliffs is the largest flat-rolled steel producer in North America and a major producer of iron ore pellets and DRI/HBI for EAFs. It is a potential anchor offtake/licensing customer for HGI in the US market.
- voestalpine: voestalpine runs the H2FUTURE hydrogen-based green-steel program and is a major EU integrated steelmaker. It represents both a likely pilot/licensing customer for Helios and a competitor with its own hydrogen-DRI roadmap.
Direct peers
- SSAB: SSAB is the industrial lead of the HYBRIT initiative, producing hydrogen-DRI-based fossil-free steel. It is one of the benchmark green-steel programs and a direct competitor for early-mover positioning with European steel customers.
- Stegra (formerly H2 Green Steel): Stegra is building one of the world's first large-scale green steel plants using hydrogen-based DRI. It is a direct competitor to Helios for green-iron offtake and licensing deals with European steel customers.
- Electra: Electra is developing electrolysis-based iron production using renewable electricity, targeting low-cost green iron at smaller, distributed scales. It pursues a similar decarbonization thesis to Helios but via an electrochemical rather than sodium-reduction route.
- Boston Metal: Boston Metal is developing molten oxide electrolysis-based ironmaking, one of the closest technical analogs to Helios's sodium-based reduction approach. Both target zero-carbon iron production at lower temperatures than blast furnaces and compete for the same green-steel customer set.
Emerging players
- Lilac Solutions: Lilac Solutions develops direct lithium extraction technology from brines and is part of the broader critical-metals extraction landscape. It overlaps with Helios's stated critical-metals solution (lithium, cobalt, nickel, copper) using different chemistry and feedstocks.
- Redwire: Redwire is a space technology company working on in-situ resource utilization (ISRU), lunar regolith processing, and related space infrastructure. It is comparable to Helios's lunar oxygen and DOR™ (deoxygenated regolith) product line within DARPA's LunA-10 program.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Helios social profiles
Digital presenceHelios financial estimates
Financial estimateRevenue estimate
Valuation estimate
Helios leadership team
Management profileNumber of profiles
Profiles9 records
Helios funding detail
Funding detailFunding overview
Funding rounds4 records
Investors9 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Helios M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Helios
What does Helios do?
Helios develops and commercializes the Helios Cycle™, a proprietary sodium-based closed-loop metal reduction platform that extracts iron and other metals from ore at 250–350°C with zero direct carbon emissions. The company produces Helios Green Iron (HGI™) as a decarbonized feedstock for steelmakers, and applies the same platform to lunar oxygen extraction and critical metals (copper, cobalt, nickel, lithium, silicon) processing. Helios sells HGI from pilot plants, licenses the technology to manufacturers, and participates in space programs such as DARPA LunA-10.
Is Helios a public or private company?
Helios is a private company. It is classified as venture growth investor backed and is currently operating.
When was Helios founded?
Helios was founded in 2018. It employs 1 to 10 people.
Where is Helios based?
Helios is headquartered in Kokhav Ya'ir, Israel, in the Middle East region.
How does Helios make money?
Three revenue lines are on record. Green Iron (HGI™) Sales are the primary driver. The others are technology Licensing and voluntary Carbon Credits.
Who are Helios's main competitors?
Broad incumbents on record are Nucor, ArcelorMittal, Cleveland-Cliffs and voestalpine. Direct peers are SSAB, Stegra (formerly H2 Green Steel), Electra and Boston Metal. Emerging players are Lilac Solutions and Redwire.
Does Helios have an API?
No public API is recorded for Helios.
What industry is Helios in?
Helios's product category is Green Steel / Sustainable Iron Production. Its primary akta.pro industry code is IMAKABAC, Direct Reduced Iron (DRI) & Hot Briquetted Iron (HBI) Production, with a secondary code of IMAKAFAH, Rare Earths Separation & Refining (Oxides/Metals). Its NAICS code is 331 and its SIC code is 3312.