Boston Metal, headquartered in Boston, MA, and specializing in cutting-edge metals technology, recently announced a significant boost to its growth plans with a $20M injection in its Series C2 funding round. This infusion elevates the total funding to an impressive $282M under the leadership of Marunouchi Innovation Partners. The strategic move is set to broaden the company's footprint across Asia, fast-tracking its commercial journey while bolstering its expansion trajectory.
Under the guidance of CEO Tadeu Carneiro, Boston Metal is at the forefront of revolutionizing the metals sector through its pioneering Molten Oxide Electrolysis (MOE) technology. Fueled by electricity, this groundbreaking platform stands as a beacon for the steel industry's transition towards decarbonization. Offering a scalable and environmentally friendly alternative, MOE is poised to transform steel production and the extraction of high-value metals from a diverse range of feedstocks and iron ore qualities. With its sights set on launching its lucrative metals division by as early as 2024, Boston Metal, including its wholly-owned subsidiary in Brazil, is gearing up to impact the global metals market substantially.
Tadeu Carneiro commented on the news: “Despite the challenging market conditions, Boston Metal’s valuation continues to increase while our persistent ability to secure funding from top-tier investors demonstrates the robust confidence in our vision and capabilities.”