Midrex Technologies, Inc.

What Midrex Technologies, Inc. does

Midrex Technologies, Inc. is the world's leading provider of direct reduction ironmaking technology, with approximately 80% market share in global low CO2 DRI production and an installed base spanning more than 20 countries. Founded in 1969 with the first MIDREX Plant commissioned at Oregon Steel Mills in Portland, the company was acquired by Kobe Steel, Ltd. in the 1980s and operates as a wholly owned subsidiary headquartered in Charlotte, NC. Its core product is the proprietary MIDREX shaft furnace direct reduction process, which converts iron ore pellets or lumps into Direct Reduced Iron (DRI), Hot Briquetted Iron (HBI), or Hot DRI (HDRI) using a counter-current reactor with reducing gas produced from natural gas, syngas, or hydrogen. The portfolio includes the standard MIDREX Process, MIDREX Flex (enabling gradual transition from natural gas to hydrogen reductant), MIDREX H2 (designed for up to 100% hydrogen operation), and MxCol (coal-based gasification using syngas where natural gas is unavailable). Complementary digital offerings include the DRIpax Expert System for predictive monitoring and control, an Operator Training Simulation built on a digital twin, and Remote Professional Services for ongoing plant support.

The company generates revenue through three streams: technology licensing royalties, plant design and EPC supply (often delivered in consortium with Paul Wurth/SMS group, Primetals Technologies, and Kobelco), and aftermarket services via its Global Solutions division covering spare parts, upgrades, and consulting. Midrex serves integrated steelmakers, iron ore producers, and electric arc furnace operators seeking to decarbonize ironmaking, with named customers including ArcelorMittal, Cleveland-Cliffs, Thyssenkrupp Steel, Stegra, Blastr Green Steel, Dillinger, Qatar Steel, Hadeed, JSW Steel, TOSYALI Algerie, and U.S. Steel's Big River Steel Works. Its 2025 global DRI output reached 82.170 million metric tons, up 7.78% year-over-year, and cumulative production exceeded 1.558 billion metric tons. Go-to-market is enterprise field sales targeting large steelmakers with multi-year contract cycles, supported by regional offices in London, Shanghai, Gurgaon, and Dubai.

Name

Midrex Technologies, Inc.

Legal name

Midrex Technologies, Inc.

Website

https://midrex.com

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

251–500 employees

Short description

Midrex Technologies is a Charlotte, NC-based ironmaking technology company licensing proprietary direct reduction shaft furnace technology for low-carbon DRI and HBI production. Wholly owned by Kobe Steel, it serves global steel manufacturers across 20+ countries, holding approximately 80% of the low CO2 DRI market.

Ownership category

akta.pro rank

Product category

Direct Reduction Iron (DRI) Technology

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (331110), Primary Metal Manufacturing (331)

SIC

Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310), Industrial Process Furnaces & Ovens (3567)

akta.pro primary industry

Direct Reduced Iron (DRI) & Hot Briquetted Iron (HBI) Production (IMAKABAC)

akta.pro secondary industry

Industrial Carbon Capture Integration & Retrofit Engineering (Capture-Ready, Balance-of-Plant) (EUABAJAJ)

Keywords

• Direct reduction iron
• DRI plant technology
• Hydrogen ironmaking
• Steel decarbonization
• Green steel solutions

Headquarters

HQ city

Charlotte

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Technology Licensing: Licensing of MIDREX direct reduction technology to steelmakers and iron ore producers for use in their own DRI plant operations. Royalties and licensing fees are charged for the use of MIDREX processes, designs, and proprietary knowledge.
2. Plant Design and Supply: Engineering, design, and supply of DRI plant equipment and systems including the MIDREX shaft furnace, gas handling, and process systems. Typically delivered as an Engineering, Procurement, and Construction (EPC) or consortium arrangement for new plant builds.
3. Aftermarket Services (Global Solutions): Ongoing aftermarket services including spare parts supply, technical support, plant upgrades, and operational consulting for existing DRI plants in the field. Provides recurring revenue from the large global installed base.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Midrex develops, licenses, and provides engineering services for the MIDREX Direct Reduction Process, a proprietary shaft furnace technology that converts iron ore pellets and lumps into Direct Reduced Iron (DRI) using a mixture of hydrogen and carbon monoxide reductant gases derived from natural gas, coal gasification, or hydrogen. The technology is delivered to steel manufacturers through technology licensing, plant design and supply (via consortium EPC delivery with Paul Wurth, Primetals, and Kobelco), and aftermarket services (Global Solutions) including spare parts, technical support, plant upgrades, and operational consulting.

Product overview

Midrex Technologies offers the MIDREX Process, the world's leading direct reduction technology for producing DRI from iron ore. The core product line includes three technology variants: MIDREX Process (standard natural gas-based), MIDREX Flex (flexible transition to hydrogen), and MIDREX H2 (designed for 100% hydrogen operation). MxCol enables coal-based direct reduction via syngas. Supporting the core technology are digitalization add-ons including DRIpax Expert System (monitoring and predictive maintenance), Operator Training Simulation (digital twin-based training), and Remote Professional Services (remote monitoring and support). Services encompass the full plant lifecycle: Project Development, Global Solutions (aftermarket support), and Supply Chain Management. The company is wholly owned by Kobe Steel, Ltd.

Differentiator

Problem solved

Functional benefit

Brands

• MIDREX: The MIDREX Process is the world's most reliable and productive direct reduction ironmaking technology, producing approximately 80% of the world's low CO2 DRI.
• MIDREX Flex
• MIDREX H2
• MxCol

Products and services

• MIDREX Process The MIDREX Direct Reduction Process is the core technology for producing direct reduced iron (DRI) from iron ore pellets and lump ores. It uses a shaft furnace with counterflowing reducing gases to convert iron oxide to metallic iron, producing CDRI, HDRI, or HBI depending on configuration. It is licensed to and used by steelmakers globally.
• MIDREX Flex MIDREX Flex enables transition from natural gas to hydrogen direct reduction. Plants can operate with 50%+ hydrogen initially and scale up to 100% hydrogen replacement as hydrogen becomes available at competitive prices. It is licensed to steelmakers seeking a flexible pathway to green steel.
• MIDREX H2 MIDREX H2 is greenfield technology designed specifically for 100% hydrogen operation or majority hydrogen with minimal natural gas. Features an electric heater for recirculating hydrogen gas developed with Tutco SureHeat/Smiths Group. It enables near-zero CO2 emissions DRI production when paired with green hydrogen.
• MxCol MxCol enables direct reduction using syngas derived from coal gasification or other carbon-containing fuel sources, providing flexibility when natural gas availability is uncertain or energy costs are high. It utilizes Corex or Midrex Col process gasification for DRI production.
• DRIpax Expert System Next-generation monitoring and advanced control system for predictive maintenance and performance improvement. Uses plant data, process models, and embedded Midrex expertise to help run DRI plants closer to optimal conditions. It is sold to steelmakers operating MIDREX DRI plants.
• Operator Training Simulation (OTS) Digital twin-based training simulator that creates a realistic, risk-free environment for DRI plant operators to learn and practice running DRI processes, including abnormal and emergency scenarios.
• Remote Connectivity & Remote Professional Services (RPS) Secure connectivity solution enabling Midrex experts to monitor, support, and guide DRI plant operations remotely using real-time data feeds and advanced sensors.
• Project Development Comprehensive project development services from design through aftermarket support, including technology sharing programs and strategic partnerships with leading companies. Delivered to steel manufacturers commissioning new DRI plants or plant upgrades.
• Midrex Global Solutions Aftermarket services group providing productivity and availability improvements, product quality enhancement, plant optimization, and asset management for installed MIDREX Plants worldwide. Includes spare parts supply, technical support, plant upgrades, and operational consulting for the existing global installed base of MIDREX DRI plants.
• Supply Chain Management Comprehensive supply chain services including vendor pre-qualification, equipment and material specification, purchase order management, expediting, and logistics through Midrex Global Logistics.

Quantifiable outcome

• 50% reduction in CO2 emissions compared to traditional blast furnace ironmaking when using natural gas as reductant
• +6 more outcomes

Named customers11 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• Paul Wurth (SMS group)coreImplementation/ SI/ Consulting PartnerPaul Wurth, part of SMS group, operates as a consortium partner in MIDREX DRI plant construction projects. Paul Wurth provides engineering and construction capabilities for MIDREX shaft furnace-based direct reduction plants, enabling full-scope project delivery.
• Primetals TechnologiescoreImplementation/ SI/ Consulting PartnerPrimetals Technologies serves as a construction partner for MIDREX DRI plants, contributing to plant construction and equipment supply. Their participation enables comprehensive plant delivery for MIDREX technology licensees.
• KobelcocoreImplementation/ SI/ Consulting PartnerKobelco (Kobe Steel) serves as a construction partner for MIDREX DRI plants. As part of the Kobe Steel group, Kobelco contributes to the delivery of MIDREX technology plants globally.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Air Products: Air Products is a global industrial gas and hydrogen supplier integral to MIDREX H2 operations and is also pursuing large-scale green hydrogen projects that pair with DRI-based green steelmaking. Comparable as an adjacent/hydrogen infrastructure enabler.
• SMS group (incl. Paul Wurth): SMS group (parent of Paul Wurth) is both a MIDREX consortium partner and a broad metallurgical plant incumbent with its own ironmaking portfolio. Overlaps with Midrex as a full-scope EPC competitor for integrated steel plants.

Direct peers

• Tenova (ENERGIRON / HYL): Tenova licenses the ENERGIRON direct reduction technology (formerly HYL), the closest direct competitor to MIDREX for shaft-furnace DRI plants globally. Both compete head-to-head in licensing natural-gas and hydrogen-ready DRI plants to integrated and EAF steelmakers.
• Danieli: Italian plantmaker Danieli designs and supplies EAFs, DRI plants (via MIDA/Energiron cooperation and proprietary offerings), and downstream steelmaking equipment — competing with Midrex for greenfield DRI/EAF project scopes and consortium roles.
• Primetals Technologies: Primetals (formerly Siemens VAI/Mitsubishi) develops competing ironmaking technologies including HyREX hydrogen-based direct reduction and is also a core MIDREX EPC consortium partner. Comparable in serving steelmakers with metallurgical plant technology and competing for DRI/EAF greenfield projects.

Emerging players

• thyssenkrupp nucera: thyssenkrupp nucera supplies electrolyzer technology for green hydrogen production — the upstream enabler of MIDREX H2 operations. While not a DRI technology competitor, it is highly comparable as a critical-path enabler of the green steel value chain Midrex serves.
• SSAB (HYBRIT joint development): SSAB, with LKAB and Vattenfall, developed the HYBRIT hydrogen-based DRI technology as a competing route to MIDREX H2. While currently a customer of Midrex technology in some assets, HYBRIT represents an emerging alternative path for green steelmaking that competes with Midrex's hydrogen-ready DRI.

Others

• ArcelorMittal (as DRI operator/customer): ArcelorMittal is Midrex's largest licensee with multiple DRI plants across Hamburg, Texas, Canada, and India. While primarily a customer, ArcelorMittal's in-house steelmaking R&D and decarbonization strategy create an indirect competitive dynamic in shaping the green steel technology landscape.
• Stegra (formerly H2 Green Steel): Stegra is a Swedish green steel startup building a MIDREX H2-based DRI plant for hydrogen-based steelmaking. While a current Midrex customer, Stegra's large-scale green steel ambitions make it a thematic comparable in the green steel transformation that Midrex enables.
• Linde: Linde is a major industrial gas and hydrogen supplier that supports MIDREX plant reductant supply chains globally. Comparable as an enabling gas/hydrogen supplier for the direct reduction industry rather than a direct DRI technology competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/midrex-technologies
• Xx.com/MidrexDRI

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Midrex Technologies, Inc.