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

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.