Boston Metal
Boston Metal is an MIT spinout that develops Molten Oxide Electrolysis (MOE), an electrified process that makes steel and recovers high-value metals such as niobium, tantalum, vanadium, nickel and chromium from low-grade ores and waste streams. Its customers and partners are steelmakers and mining and metals companies. Investors include Tata Steel, ArcelorMittal, Aramco Ventures, BHP Ventures, Breakthrough Energy Ventures and Microsoft's Climate Innovation Fund. It has a Brazilian subsidiary running a metals plant, and for green steel the likely model is licensing the technology. In May 2026 it raised $75M, bringing total funding to over $500M. An industrial accident at the Brazil facility earlier in 2026 caused cash-flow problems and 71 layoffs in April 2026.