BHP Billiton invests in start-ups to reduce pollution in steel production

BHP Billiton, an Australian mining company, is reported to have invested in American start-up Boston Metals to develop less polluting steel production methods.

Boston Metals, led by CEO TadeuCarneiro, is developing a technology to reduce emissions by using electricity instead of coking coal in the steelmaking process.

The $50 million financing was led by Piva capital,BHP Ventures and Devonshire Investors.

BHP has already spent $400m on research to find ways to reduce emissions from the steel industry.