At just 34, Laureen Meroueh is modernizing the steel industry. Boasting a Ph.D. in mechanical engineering and materials science from the Massachusetts Institute of Technology, she developed a method of turning iron ore into steel in a single step. Hertha Metals says the process is 25% cheaper than conventional blast-furnace methods, uses natural gas instead of coal, and produces roughly 50% fewer emissions. In October, Hertha Metals broke ground on its first commercial facility, located in the Houston metro area, and secured more than $133 million in a Series A funding round, including $65 million from the Department of Defense to produce American-made rare earth magnets for F-35 jet fighters and missile guidance systems. —Olivia B. Waxman
What is the single most important action you think the public, or a specific company or government (other than your own), needs to take in the next year to advance the climate agenda?
Back climate solutions that win on cost first and cut emissions second. I call this Climate Tech 3.0. The first waves of climate tech assumed customers or governments would pay a green premium, and that did not scale. Companies, investors, and governments should now put their money behind technologies that are cheaper than the incumbent today and can keep cutting emissions tomorrow, so they never become stranded assets. Find a way to start your sustainability efforts now that can hold up and can scale in the future.
What gives you hope about the future of the planet/climate movement?
How fast the conversation has changed. Climate used to ask how much we were willing to pay to cut emissions, it was about green premiums. Now the focus is on what actually works at scale and how it can be a solution that can stand on its own regardless of policy. This new thinking is giving so many new ideas the legs to stand. I think we will keep seeing companies build solutions for a specific industry, simply by making its process more efficient, which cuts cost and emissions together.
Do you think AI will help or worsen the climate crisis? How?
Both, and the outcome depends on power. AI is driving a surge in electricity demand, and if we meet it the old way, emissions will rise. But AI is not going away, and that pressure is pushing people to rethink how we build it. Many companies are working on making AI more sustainable, from data centers built with more sustainable materials to floating data centers that ease the strain on land and local grids.