Miner BHP backs US Boston Metal's emissions-free steel tech venture

摘要

London—BHP Ventures, the venture capital unit of diversified miner BHP, is to back a new technology for emissions-free steelmaking being developed by Boston Metal, a US-based global metals technology solutions company that is commercializing molten oxide electrolysis (MOE). Boston Metal said in a statement that it raised $50 million in funding in a recent call for capital backing, positioning the company to accelerate industrial-scale deployments of its MOE technology towards emissions-free steel. The financing was led by Piva Capital, BHP Ventures, and Devonshire Investors, a private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments.