Vale invests in Boston Metal to promote zero-carbon steel production

Published: Feb 10, 2021 09:07

Save

[Vale invests in Boston Metal to promote zero-carbon steel production] Vale informed that it has completed an investment of US $6 million in Boston Electrometallurgical Company (Boston Metal) to acquire a minority stake in the company to promote technological development focused on decarbonization of steel. Boston Metal has a diversified shareholder base, including venture capital funds, mining companies and private investors.

SMM2: Vale has announced that it has completed an investment of US $6 million in Boston Electrometallurgical Company (Boston Metal) to acquire a minority stake in the company to promote the development of steel decarbonization technology. Boston Metal has a diversified shareholder base, including venture capital funds, mining companies and private investors.

Boston Metal is a startup founded in 2012 by professors at (MIT) at the Massachusetts Institute of Technology to develop an innovative technology called molten oxide electrolysis (MOE), which uses electricity to reduce metal oxides such as iron ore into high-purity molten metal products. Molten oxide electrolysis process produces iron and steel by iron ore reduction process to achieve zero carbon emission.

The funds raised by Boston Metal will be used for technology development.

The investment in Boston Metal is in line with the strategic pillar of Vale's New Social contract. Vale is committed to leading the mining industry to achieve net zero carbon emissions and to provide "scope three" emission reduction solutions through a high-grade product portfolio and a variety of innovative technologies.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Jun 5, 2026 11:08

Supply Gap Persists in Vietnamese Market, Spot Lead Traded at High Premiums

[Ex-China Lead Market Dynamics] It was learned that the recent environmental protection inspections on secondary lead in the Vietnamese market had temporarily come to an end, and some lead smelters had gradually resumed production. However, in the face of the current primary lead supply gap, spot lead in the local market continued to maintain high premiums. According to the latest information, the CIF premium for Vietnamese lead ingots with Pb≥99.99% in June had reached $180/mt as a common transaction price, compared to around $165/mt in May.

Jun 5, 2026 11:08

May 27, 2026 14:15

Nanyang Zhongjie Receives Approval for Waste Lead-Acid Battery Collection Project

[Waste Lead-Acid Battery Collection Enterprise Updates] Recently, the Xinye Branch of the Nanyang Municipal Ecology and Environment Bureau in Henan Province officially approved the Environmental Impact Assessment Report for the waste lead-acid battery collection, storage, and transfer project of Nanyang Zhongjie Environmental Protection Technology Co., Ltd. (Wan Xin Huan Shen [2026] No. 8). The project will construct a comprehensive workshop integrating weighing, loading and unloading, and storage, with designated areas for intact batteries, dedicated storage rooms for damaged batteries, and temporary hazardous waste storage rooms, with a designed annual collection and transfer capacity of 5,000 mt of waste lead-acid batteries.

May 27, 2026 14:15

May 19, 2026 17:28

Dongying Xinsanyuan's 200,000 mt Lead-Acid Battery Recycling Project on Track for 2026 Completion

[Secondary Lead Enterprise Updates] It was reported that the 200,000 mt lead-acid battery environmental protection utilization project of Dongying Xinsanyuan Environmental Protection Technology Co., Ltd. was under orderly construction and progressing on schedule, and was expected to be completed and put into operation before the end of 2026. As a key project in Dongying City, Shandong Province, the project had a total investment of 480 million yuan, covering an area of 103 mu. Once completed, it will fill the regional gap in the harmless treatment and resource utilization of waste lead-acid batteries, injecting new momentum into regional green circular development.

May 19, 2026 17:28