Dealflow | January 6, 2021

Boston Metal raises $50 million to produce emission-free steel

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

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.