Announced
Completed
Financials
Tags
Minority
Friendly
Acquisition
Iron and Steel
steel production
United States
Completed
Private
Domestic
Private Equity
Venture Capital
Synopsis
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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