Boston Metal Expands B-Series to Provide No Emission Steel

10 February 2021

Boston Metal , the company that offers a future where steel production is emission-free, today announced that Vale and Energy Impact Partners have teamed up to raise B Series funds, closely following a closing of US $ 50 million announced in January .

" Boston Metal's mission is to supply emission-free steel on a global scale," said Tadeu Carneiro, President and CEO of Boston Metal. " Iron ore and clean electricity are the main inputs in the MOE process and will greatly influence the design of our technology and our strategy. We are excited by the inclusion of Vale and BHP, two of the largest iron ore companies, and Energy Impact Partners, a leading energy transition investor, to our world-class consortium of investors and partnerships. "

The company's B series also includes new investors BHP Ventures, Piva Capital and Devonshire Investors, the private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments, alongside existing investors like Breakthrough Energy Ventures, Prelude Ventures, OGCI Climate Investments and The Engine. The B series will enable Boston Metal to validate its patented inert anode technology on an industrial scale, further expand its team and implant its molten oxide electrolysis (MOE) process with customers, starting with the production of iron alloys. high value as it moves towards steel applications.

" We are excited about our investment in Boston Metal, being an important step in the development of our portfolio of innovative technologies to offer decarbonization solutions", said Rogério Nogueira, Marketing Director at Vale.

" Abundant, affordable and clean electricity will be the hallmark of our future energy supply," said Shayle Kann, Partner at Energy Impact Partners. " Boston Metal is the only company that takes advantage of this macro phenomenon to energize and revolutionize the steel industry, one of the largest industrial sectors in the world."

About Boston Metal

Boston Metal is an international metallurgical technology solutions company, selling fused oxide electrolysis (MOE), a patented metal production platform by tonnage. MOE offers the metals industry a more efficient, lower cost and more environmentally friendly solution for the production of a wide range of metals and alloys from a wide range of raw materials. Boston Metal works closely with customers to tailor MOE technology to specific alloys, raw materials and business needs. To learn more about Boston Metal, visit

About Vale

Headquartered in Rio de Janeiro, Brazil and present on five continents, Vale is one of the largest metals and mining companies in the world based on market capitalization and one of the largest producers of iron ore and nickel in the world. It also produces iron ore grains, manganese ore, iron alloys, metallurgical and thermal coal, copper, platinum group metals (PGMs), gold, silver and cobalt. It is currently engaged in mineral exploration 'greenfield' in five countries. Vale operates large logistics systems in Brazil and in other regions of the world, including railroads, maritime terminals and ports, which are integrated into its mining operations. In addition, it has a distribution center to support the supply of iron ore worldwide. Directly and through affiliates and joint ventures,

About Energy Impact Partners

Energy Impact Partners (EIP) is a global investment platform that drives the transition to a sustainable energy future. EIP brings together entrepreneurs and the most innovative industrial and energy companies in the world in order to foster innovation. With more than $ 1.5 billion in assets under management, EIP invests in ventures, growth, credit and infrastructure worldwide, with a team of more than 45 professionals based in its offices in New York, San Francisco, Palm Beach , London, Cologne and soon, Oslo. For more information about EIP, visit

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Adam Rauwerdink