ImpactAlpha, January 6 – Boston Metal is set on greening fossil-fuel heavy metal production. Steel production, heavily reliant on coal, is responsible for 8% of global CO2 emissions. Boston Metal’s electrical process cuts steel’s carbon footprint along with production costs.
The company, which spun out of an MIT lab in 2012, has raised $50 million from eight unnamed investors.
Earlier investors include Breakthrough Energy Ventures, Prelude Ventures, and MIT spin-out fund, The Engine.