Boston Metal raised $50 million in Series B funding, positioning the company to accelerate industrial-scale deployments of its molten oxide electrolysis (MOE) technology toward emissions-free steel. The company’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.

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