• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Technologies.org

Technology Trends: Follow the Money

  • Technology Events 2025-2026
  • Sponsored Post
    • Make a Contribution
  • Technology Jobs
  • Technology Markets
  • About
    • GDPR
  • Contact

Boston Metal Raises $50 Million to Decarbonize Steelmaking

January 11, 2021 By admin Leave a Comment

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.

“Boston Metal is ushering in a new era of metallurgy,” said Tadeu Carneiro, Chairman and CEO of Boston Metal. “Steel production has relied on the same basic formula for millennia, and revolutionizing such an industry requires a rare combination of team, technology, and partners. With this new round of funding, Boston Metal has brought together all of these elements and is positioned to deliver a future where steel production is efficient, modular and clean.”

Boston Metal’s MOE technology uses electricity to transform metals from a raw oxide form into high-purity molten metal products, facilitating CO2 emissions-free steel production from a wide array of iron ores in a potentially more efficient, less costly and more sustainable approach.

Building on the momentum of its Series A in 2018, this new funding round will allow Boston Metal to validate its patented inert anode technology at industrial-scale, further expand its world-class team, and begin to deploy its MOE technology with customers, starting with high-value ferroalloy production as it advances toward steel applications.

“Steel is the backbone of the industrialized world, with 1.9 billion tonnes produced each year to build transportation systems, skyscrapers and infrastructure,” said Bennett Cohen, Partner at Piva Capital. “Unfortunately, the production of steel is responsible for more than eight percent of global carbon dioxide emissions, and the time is now to identify a more sustainable and cost-effective solution. Boston Metal’s team of remarkable entrepreneurs, scientists and engineers will completely transform the steel industry by delivering a truly world-changing technology for producing emissions-free steel. We look forward to partnering with Tadeu and his team to bring this technology to market and make green steel a reality.”

“Our investment in Boston Metal complements the initiatives and partnerships we have underway to support decarbonisation options across our value chain and help drive long-term growth and profitability for BHP and its customers,” said Mark Frayman, Head of BHP Ventures.

“Innovation is at the heart of Boston Metal, but we also benefit greatly from MOE’s unique ability to leverage proven principles from both the steel and aluminum industries,” added Carneiro. “We are building a technology and a company that can scale to meet the immense challenge of decarbonizing steelmaking, and that new era of metallurgy is coming soon. We intend to deploy pilot plants globally within a few years’ time.”

About Boston Metal
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.

Filed Under: Tech

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • iOS 26: The Most Personal, Intelligent, and Private iPhone Experience Yet
  • Postman Unveils Agentic AI Tooling to Operationalize API-Driven Intelligence
  • AM Batteries Opens New Facility in Billerica to Advance U.S. Battery Supply Chain
  • Meibel Secures $7 Million to Revolutionize AI Runtime Management
  • Tailor Raises $14 Million to Redefine ERP for Modern Businesses with Composable Architecture
  • Intel Unveils New GPUs and AI Accelerators at Computex 2025
  • Unlocking Critical Minerals: USGS Invites States to Turn Mine Waste into Treasure
  • Blacksmith Reimagines Continuous Integration with AI-Optimized Infrastructure
  • Cloudflare Acquires Outerbase and Expands AI Agent Capabilities to Transform Developer Experiences
  • Cloudflare’s Web Application Firewall Earns Leader Recognition in Forrester Wave Q1 2025

Media Partners

  • Market Analysis
  • Cybersecurity Market
China’s Strategic Shift to RISC-V: Market Implications and Growth Prospects
Understanding Transfer Pricing: A Key Component of Multinational Business Operations
A Comprehensive Tour of Project Management Tools and Integration Platforms
Implementing Odoo ERP in a Small Manufacturing Enterprise: Costs and Considerations
Economic Optimism Meets Uncertainty: Blue Chip Indicators Highlight Post-Election Fiscal Concerns and AI’s Looming Impact
The Future of Connectivity: Insights from Ericsson’s November 2024 Mobility Report
Platinum Market Faces Sustained Deficit Amidst Strong Demand and Constrained Supply
Breaking Beijing’s Grip: U.S. and Australia Unite Against China’s Rare Earth Monopoly
Global AI-Powered Accounting and Audit Services Market Analysis 2023-2030: Growth, Trends, and Forecast
The Re-Emergence of PHP
Cyera Raises $540M to Cement Its Role as AI’s Data Security Backbone
ZeroRISC Secures $10M to Build Transparent, Secure Supply Chains
Cisco Fuses AI Security Into the Network Fabric: A Unified Vision for the Agentic Era
Guardz Raises $56M Series B to Scale AI-Native Cybersecurity Platform for MSPs and SMBs
Horizon3.ai’s $100M Bet on Autonomous Security
Open Source, AI and Cybersecurity Converge in Amsterdam: Previewing the 2025 Open Source Summit Europe and AI_dev GenAI Summit
Training for the Front Lines: Cloud Range Showcases Real-World Cyber Readiness at Gartner Summit 2025
Seraphic Security Unveils BrowserTotal™ – Free AI-Powered Browser Security Assessment for Enterprises
IonQ Accelerates Toward Quantum Supremacy with $1.075B Oxford Ionics Acquisition
Pathlock Democratizes SAP Cybersecurity with Scalable, Transparent Protection Tiers

Media Partners

  • Market Research Media
  • Technology Conferences
The Rise of Headless Content Frameworks in Distributed Media Projects
Developing Web Projects: From Concept to Launch
The Rise of APS-C Cameras: A Professional Renaissance in Photography
Market Brief: Disruption in Spanish Orange Supply Chain and Strategic Response by UK Retailers
Global AI-Powered Movie Scenario Market Analysis 2023-2030: Growth, Trends, and Forecast
Market Research Report: US Government Cybersecurity Market in 2024
Market Research Report: Global Advertising Revenue Projections and Trends in the Entertainment & Media Industry
Social Media: The Rise of Formulaic Content
Netflix’s Creative Decline: The Rise of Formulaic Content
The Transformation of Media: Navigating the Waning Allure of Social Platforms
Apple Announces WWDC25, June 9 to 13, 2025
Adobe Summit 2025, March 17-20, Las Vegas
Embedded World 2025, from 11 to 13 March 2025 in Nuremberg
SATELLITE 2025: Uniting the Global Satellite and Space Communities
The milestone 10th edition of Chatbot Summit on March 31 – April 1, 2025, The Ritz-Carlton, Berlin
Snowflake Summit 2025, scheduled for June 2-5, 2025, in San Francisco
The NVIDIA GPU Technology Conference (GTC) 2025 is set to take place from March 17 to 21 at the San Jose McEnery Convention Center in San Jose, California
The Taipei Nangang Exhibition Center is set to host COMPUTEX 2025 from May 20 to May 23
The Mobile World Congress (MWC 2025) will kick off from March 3 to 6 in Barcelona, Spain
IOT Solutions World Congress 2025: Forging the Future of Industrial Innovation

Copyright © 2022 Technologies.org

Media Partners: Market Analysis & Market Research and Exclusive Domains