ArcelorMittal has led the latest, $120-million round of investment for Boston Metal in the startup’s quest to go to market by 2026 with equipment capable of taking the heavy greenhouse gas emissions out of steel production, the companies said.
Boston Metal makes parts for cells in which electricity splits iron ore, creating liquid iron and no byproducts or emissions apart from oxygen. As long as the power comes from renewable sources, this means carbon is completely eliminated from the process, Chief Executive Tadeu Carneiro said.
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