Breakthrough Energy Ventures led a $262m Series C funding round in Boston Metal.

Breakthrough Energy Ventures, an investment firm, led a $262m Series C funding round in Boston Metal, a company developing a technology known as molten oxide electrolysis to decarbonize steelmaking and recover high-value metals from mining waste, with participation from Aramco Ventures, M&G Investments, Goehring & Rozencwajg, Baillie Gifford, Microsoft Climate Innovation Fund, BHP Ventures and Prelude Ventures. “Boston Metal has made remarkable progress on the maturation of its MOE technology and business model, which has the potential to decarbonize steelmaking at scale while delivering significant value and sustainability benefits for the metals industry,” Carmichael Roberts, Breakthrough Energy Ventures Managing Partner.