I’d be willing to bet this design is more expensive than solar panels and using an electric furnace which is common for recycling steel. You still need some wa

I’d be willing to bet this design is more expensive than solar panels and using an electric furnace which is common for recycling steel. You still need some way to deal with rust, and carbon electrodes work great. Steel is roughly $500 per ton, so they are looking at $200k a year in revenue. This is a cool research project, but the economics are not realistic anytime soon.