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$20.0m

Valuation: $610m

Series C
Total Funding000k

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Boston Metal is a startup that is revolutionizing the steel industry by commercializing a one-step decarbonization technology. This technology uses clean electricity, rather than fossil fuels, to produce green steel. The company's innovative technology platform is cost-effective, scalable, and adds value throughout the steel value chain. It operates in the steel industry, serving clients globally who are seeking more efficient, lower-cost, and environmentally sustainable solutions for steel production.

The company's technology, Molten Oxide Electrolysis (MOE), converts iron ore into liquid metal and oxygen, eliminating the need for coal, coke, or other carbon-intensive fuels. This process is not only more environmentally friendly but also more cost-effective than traditional steelmaking methods. The MOE cells, which are about the size of a school bus, can be scaled up or down to produce varying amounts of output, from thousands to millions of tons, simply by adding new cells.

Boston Metal's business model is to generate revenue by selling their green steel and high-value metals, with plans to start producing revenue in 2024. The company's steel decarbonization technology is expected to reach commercialization by 2026 to meet the growing global demand for green steel.

The company is backed by a leading steelmaker, top cleantech venture capital funds, mining companies, and steel users who are committed to decarbonizing heavy industries for a net-zero future. Boston Metal is headquartered in Woburn, Massachusetts, and has a wholly-owned subsidiary in Brazil.

Keywords: Boston Metal, Green Steel, Decarbonization, Molten Oxide Electrolysis, Clean Electricity, Scalable Technology, Cost-Effective, Environmentally Sustainable, High-Value Metals, Net-Zero Future.

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