> 0.3% of the Iron-oxide becomes nanoparticles which cannot be converted back into Iron.
At that rate, 50% of the initial iron will be gone in 333 cycles of iron -> iron oxide -> iron.
This a hard type of energy source to reason about:
1. It's not a pure fuel and acts like a battery most of the time, but it's also not renewable
2. Iron is extremely abundant on Earth, but it requires mining and processing to extract
3. Iron oxide in nanoparticle size would likely be a pollutant and hazardous to human health, not something that will break down quickly and harmlessly.
The high fuel density and low explosiveness may make it a good use case in some niches, but I imagine it's actually more scalable and healthy to burn jet fuel and reproduce it from renewable powered carbon capture, where density is needed.