Yes, this is a strange approach. Separate iron from iron oxide, which is energy intensive. That's what blast furnaces did, or do, and it's a messy and energy-intensive process. Burn iron to get heat and iron oxide. Repeat.
Are there numbers on the energy efficiency and costs of this process? This seems very strange. Batteries are above 90% round-trip efficiency now. This has to be lower.
Are there numbers on the energy efficiency and costs of this process? This seems very strange. Batteries are above 90% round-trip efficiency now. This has to be lower.