Tag Archives: Boston Metal

Boston Metal secures funds to help accelerate emissions-free steel transition

Boston Metal has raised $50 million in Series B funding to further accelerate industrial-scale deployments of its molten oxide electrolysis (MOE) technology towards emissions-free steel.

The financing was led by Piva Capital, BHP Ventures, and Devonshire Investors.

Boston Metal’s MOE technology uses electricity to transform metals from a raw oxide form into high-purity molten metal products, facilitating CO2 emissions-free steel production from a wide array of iron ores in a potentially more efficient, less costly and more sustainable approach, the company claims.

Last year, CBMM, a leading supplier of niobium products and technology, and Boston Metal signed a strategic partnership to trial Boston Metal’s MOE technology for the production of niobium products.

Tadeu Carneiro, Chairman and CEO of Boston Metal, said: “Boston Metal is ushering in a new era of metallurgy. Steel production has relied on the same basic formula for millennia, and revolutionising such an industry requires a rare combination of team, technology, and partners. With this new round of funding, Boston Metal has brought together all of these elements and is positioned to deliver a future where steel production is efficient, modular and clean.”

Building on the momentum of its Series A financing in 2018, this new funding round will allow Boston Metal to validate its patented inert anode technology at industrial-scale, further expand its team, and begin to deploy its MOE technology with customers, starting with high-value ferroalloy production as it advances toward steel applications, the company said.

“Innovation is at the heart of Boston Metal, but we also benefit greatly from MOE’s unique ability to leverage proven principles from both the steel and aluminium industries,” Carneiro added. “We are building a technology and a company that can scale to meet the immense challenge of decarbonising steelmaking, and that new era of metallurgy is coming soon.

“We intend to deploy pilot plants globally within a few years’ time.”

Boston Metal to trial molten oxide electrolysis on CBMM ore

CBMM, a leading supplier of niobium products and technology, and Boston Metal have signed a strategic partnership to trial Boston Metal’s molten oxide electrolysis (MOE) technology for the production of niobium products.

Together, the companies will deploy the MOE technology at CBMM’s production plant in Araxá, Brazil, with first commissioning expected later this year.

CBMM, as of 2016, produced 90,000 t/y of ferroniobium equivalent, with plans to increase this further. Its mine in Araxá contains pyrochlore, a mineral that hosts niobium, among other constituents, which CBMM turns into niobium-based products.

Boston Metal said: “With this partnership, CBMM and Boston Metal will seek to further advance niobium production efficiency and provide innovative material transformation solutions. CBMM’s leadership in the niobium market is a direct result of decades of research and development investment in niobium processing and its focus on collaborating with customers and partners across the globe to develop better materials.”

Boston Metal, based in Woburn, Massachusetts, has developed the patented MOE technology as a platform for the production of a wide variety of alloys. The MOE technology uses electricity to reduce metals from their oxide form, such as CBMM’s niobium oxide containing raw materials, into high-quality, molten metal products.

At its Massachusetts headquarters, Boston Metal is developing MOE for the production of metals and alloys, and, with this partnership, MOE hardware and Boston Metal personnel will be deployed at CBMM’s headquarters in Araxá, enabling the teams to collaborate closely, Boston Metal said.

Tadeu Carneiro, Chairman and CEO of Boston Metal, said: “The MOE technology that is being developed by the team at Boston Metal promises a new era in metallurgy and, in CBMM, we found a partner that shares our fundamental commitment to technology leadership.”