Boston Metal

Boston Metal is pioneering the commercialization of Molten Oxide Electrolysis (MOE) technology to decarbonize steelmaking and revolutionize metals production. MOE offers a scalable, cost-competitive, and modular solution for producing green steel from all grades of iron ore. The technology uses electricity to reclaim valuable metals from mining waste, eliminating the need for coal, process water, hazardous chemicals, or precious-metal catalysts, and emits no carbon dioxide. Boston Metal will license its MOE platform to steelmakers, rather than producing steel itself, and expects to commercialize the technology for steel production by 2026. The company has raised a collective $370 million in funding from investors including Breakthrough Energy Ventures, IFC, ArcelorMittal XCarb® Innovation Fund, Microsoft Climate Innovation Fund, Aramco Ventures, and Marunouchi Innovation Partners. Boston Metal’s wholly owned subsidiary, Boston Metal do Brasil, located in Coronel Xavier Chaves near São João del Rei, Minas Gerais, focuses on commercializing MOE for the metals and mining industry. The Brazilian facility began operations in 2023 and aims to recover valuable metals from mining waste. Boston Metal’s high-value metals business is expected to produce revenue in 2024 and expand to incorporate additional feedstocks and target metals by 2025. The company’s MOE technology is designed to be modular and scalable, providing a customizable solution for high-value metals production and meeting the growing global demand for green steel.