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Boston Metal Raises $50 Million to Decarbonize Steelmaking

Jan 11, 2021•over 4 years ago

Amount Raised

$50 Million

Boston

Description

Boston Metal today announced it raised $50 million in Series B funding, positioning the company to accelerate industrial-scale deployments of its molten oxide electrolysis (MOE) technology towards emissions-free steel. The financing was led by Piva Capital, BHP Ventures, and Devonshire Investors, the private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments. Existing investors Breakthrough Energy Ventures, Prelude Ventures, OGCI Climate Investments, and The Engine also participated in the round, reflecting strong ongoing support for the company and its recent progress.

Company Information

Company

Boston Metal

Location

Boston, Massachusetts, United States

About

Boston Metal is a global metals technology solutions company that is commercializing molten oxide electrolysis (MOE), a patented tonnage metals production platform. MOE provides the metals industry with a more efficient, lower cost, and greener solution for the production of a wide variety of metals and alloys from a wide variety of feedstocks. Boston Metal works closely with customers to tailor the MOE technology for specific alloys, feedstocks, and business needs. To learn more about Boston Metal, visit – www.bostonmetal.com

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