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Announced

Completed

ArcelorMittal led a $120m Series C funding round in Boston Metal.

Financials

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Transaction Value£96m
Consideration Type-
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Minority

Friendly

Acquisition

Iron and Steel

steel production

United States

Completed

Private

Domestic

Private Equity

Venture Capital

Synopsis

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ArcelorMittal, a steel manufacturing corporation, led a $120m Series C funding round in Boston Metal, a company developing technology to fully decarbonize steel production, with participation from Climate Innovation Fund, Vale and SiteGround Capital. “In Boston Metal, we are investing in a team that has made impressive progress over a relatively short period of time, developing a technology that has exciting potential to revolutionize steelmaking. In our extensive discussions with them, we have been impressed by the passion and vision they have to contribute to the decarbonization of steelmaking. They are an exciting and welcome addition to the XCarb Innovation Fund’s portfolio,” Aditya Mittal, ArcelorMittal CEO.

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