BOverview
Boston Metal develops green steel using Molten Oxide Electrolysis (MOE), a one-step decarbonization process that uses clean electricity instead of fossil fuels. The MOE system converts iron ore directly into liquid iron and oxygen, removing the need for coal, coke, or other carbon-heavy fuels. The MOE cells are modular and scalable, allowing production to range from thousands to millions of tons by adding more cells. The company plans to generate revenue by selling green steel and high-value metals, with commercialization expected by 2026 and initial revenue anticipated in 2024. This approach differentiates Boston Metal from traditional steelmakers by avoiding carbon-based inputs entirely and offering a cost-effective, scalable path to low-emission steel. Its goal is to meet growing global demand for green steel and contribute to a net-zero future through a globally deployed, electricity-based decarbonization technology.
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About Boston Metal
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Industries
Company Size
201-500
Company Stage
N/A
Total Funding
$421.7M
Headquarters
Woburn, MA
Founded
2013
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Funding
Total Funding
$421.7M
Above
Industry Average
Funded Over
12 Rounds
Benefits
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Disability Insurance
- Health Savings Account/Flexible Spending Account
- Paid Vacation
- Paid Sick Leave
- Paid Holidays
- Parental Leave
- 401(k) Company Match
- Hybrid Work Options
Company News
Boston Metal - Funding & investors. Last updated: October 10, 2026 Boston Metal's funding rounds. Boston Metal has raised a total of $544M over 15 funding rounds: 1 Seed, 4 Early-Stage, 5 Late-Stage, 1 Others and 4 Grant (prize money) round s. Boston Metal's largest funding round so far was a Series C round for $***** in Sep 2023. Here is the list of all funding rounds of Boston Metal: | Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors | | May 20, 2026 | 7035790 | Series D | 7967655 | 9707236 | 3245879 | 1241928 | | Jun 27, 2025 | 9846427 | Convertible Debt | 9508644 | 2673973 | 8854774 | BHP & 3 more | | Jan 30, 2024 | 4206220 | Series C | 4946149 | 3468252 | 1402466 | 4823484 | | Sep 06, 2023 | 7647809 | Series C | 9542801 | 1453817 | 5262574 | Gorozen & 2 more | | May 30, 2023 | 7691098 | Series C | 8584659 | 7306020 | IFC | 9136778 | | Jan 26, 2023 | 2653836 | 364694 | 5173408 | 1686716 | 1234214 | 5014121 | | Mar 12, 2021 | 8866416 | 862823 | 8991962 | 6432400 | 1096293 | 8545802 | | Feb 09, 2021 | 7976981 | 820422 | 4952405 | 5271760 | 4576928 | 6001160 | | Jan 04, 2021 | 1950550 | 608577 | 2888907 | 5705742 | 5630150 | 4589689 | | Jan 09, 2019 | 5087088 | 811949 | 8603667 | 3351295 | 2275323 | 4353681 | | Dec 2018 | 3180699 | 2198 | 8869675 | 8319371 | 1983527 | 5541415 | | Jul 02, 2018 | 3412846 | 676803 | 2427049 | 8076118 | 1222865 | 5273450 | | Sep 15, 2015 | 1819696 | 370354 | 5164180 | 2004799 | 1341154 | 2858158 | | Jun 09, 2014 | 2003280 | 420405 | 1842725 | 7477340 | 6439675 | 1599742 | | Jan 01, 2014 | 3023523 | 761938 | 9090154 | 8141844 | 4186540 | 8101889 | Boston Metal's investors. Boston Metal has total 24 investor s, 24 are institutional investors including Microsoft and 23 others. Here is the list of institutional investors of Boston Metal: * BHP, located in Melbourne (Australia), made their first investment in Boston Metal on Jun 27, 2025 in its Convertible Debt round. * Gorozen, made their first investment in Boston Metal on Sep 06, 2023 in its Series C round. * IFC, located in Washington, DC (United States), made their first investment in Boston Metal on May 30, 2023 in its Series C round. Are you a Founder? FAQs about Boston Metal's funding and investors. Explore latest companies that raised funding recently * talmal.sa - raised a funding in Seed round held on Sep 21, 2026. * K Bio Gateway - raised a funding of $833K in Seed round held on Sep 21, 2026. * Paymob - raised a funding of $35M in Series B round held on Sep 21, 2026. * Empower Work - raised a funding of $25K in Grant (prize money) round held on Sep 21, 2026. * Novadip - raised a funding of $12M in Series B round held on Sep 21, 2026.
BMW Group has invested in Boston Metal's zero-emission steelmaking technology through BMW i Ventures. The Boston-based firm uses molten oxide electrolysis powered by electricity instead of coal to produce crude iron, with plans to use renewable energy at commercial scale. The move supports BMW's target to cut supply-chain CO2 emissions per vehicle by at least 20% from 2019 levels by 2030. Steel represents a significant carbon source in BMW's operations, with European stamping plants processing over 500,000 tonnes annually. The carmaker aims to reduce 2 million tonnes of CO2 from its steel supply chain by 2030. Boston Metal plans to build demonstration facilities before scaling to industrial production. The investment reflects BMW's broader strategy of backing upstream technologies to secure lower-emission materials ahead of regulatory pressure.
Climate tech shifts focus to critical minerals. In the current political climate, many climate technology companies are adapting their strategies to remain viable and even flourish. With a lack of robust support for climate initiatives under the second Trump administration, firms are pivoting towards sectors that promise financial stability, such as critical minerals and energy solutions, rather than solely focusing on decarbonization efforts. One notable example is Boston Metal, which recently secured $75 million in funding to advance its critical metals operations. Previously recognized for its innovative processes aimed at producing lower-emission steel, Boston Metal is now expanding its scope to include metals like niobium and tantalum - essential components in high-performance applications such as aircraft engines and advanced steel alloys. While the environmental impact of these metals may not rival the potential benefits of cleaner steel production, this strategic shift could provide the necessary resources for the company to continue its sustainability initiatives in the long run. Tadeu Carneiro, CEO of Boston Metal, emphasizes that this approach allows them to generate funds swiftly, facilitating ongoing development in their steel production efforts. Other companies are also exploring similar avenues. California-based Brimstone has introduced a novel method for cement production, targeting the notoriously difficult task of decarbonizing this heavily polluting industry. Despite setbacks, including the cancellation of significant funding from the US Department of Energy, Brimstone remains committed to producing critical minerals alongside cement, which could bolster the domestic aluminum supply chain. Additionally, some carbon dioxide removal companies are seeking to collaborate with the mining sector, aiming to enhance efficiency or rehabilitate abandoned sites. This broader trend of shifting focus reflects a growing concern that as climate discussions wane in popularity, companies may need to adapt their messaging to survive while still aiming to make a positive impact on emissions in the future.
Boston Electrometallurgical Corporation has closed a $75 million funding round led by new investor Tata Steel Limited, with participation from existing investors. The transaction, which closed on 20 May 2026, involved amended terms. The Boston-based company has now raised over $500 million in total funding to date. No further details about the company's operations or the specific terms of the amended transaction were disclosed.
Boston Metal has secured $75 million in funding to support its production of critical metals including niobium, tantalum and tin. The investment follows cash-flow problems after an industrial accident at the company's Brazil facility earlier this year. The startup uses molten oxide electrolysis technology, which runs electric current through ore dissolved in a molten electrolyte at approximately 1,600 °C to separate desired metals. In early 2025, Boston Metal completed its largest pilot run in Massachusetts, producing about one ton of steel. The company's Brazilian subsidiary is now testing an industrial-scale plant to produce critical metals from low-grade materials. CEO Tadeu Carneiro said the funding will support the Brazil facility's operations and future production of vanadium, nickel and chromium. Construction on the Brazil plant began in 2024 and took approximately 18 months.
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About Boston Metal
We're working on gathering enough insights on this company, check back soon!
Industries
Company Size
201-500
Company Stage
N/A
Total Funding
$421.7M
Headquarters
Woburn, MA
Founded
2013
Boston Metal is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today
Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs