MA-BOSTON-METAL
30.1.2024 06:02:34 CET | Business Wire | Press release
Boston Metal, a global metals technology solutions company, today announced a $20 million Series C2 investment from Tokyo-based Marunouchi Innovation Partners. The new funding brings the series total to $282 million.
With this new capital, Boston Metal expands its presence in Asia, a market accounting for more than 70% of the world's steel production. Additionally, the funding will accelerate the company’s path to commercialization and support its ongoing growth by attracting and retaining top industry talent.
“Our commitment to innovation and sustainability in metals production remains unwavering and this funding will be instrumental in advancing our long-term goals,” said Tadeu Carneiro, CEO of Boston Metal. “Despite the challenging market conditions, Boston Metal's valuation continues to increase while our persistent ability to secure funding from top-tier investors demonstrates the robust confidence in our vision and capabilities.”
Building on its Series C1 funding momentum, Boston Metal is accelerating its mission to commercialize breakthrough green steel technology by 2026 to support the steel industry's 2050 zero-carbon goals. The company expects to start generating revenue from its high-value metals business as early as 2024.
"We recognize the critical importance of advancing sustainable practices in metal production," said Ichiro Miyoshi, CEO of Marunouchi Innovation Partners. "Our investment in Boston Metal is a testament to our belief that their technology represents an innovative, long-term solution for commercial green steel production amid the growing global steel demand."
The drive for decarbonization in sectors like transportation and infrastructure is increasing the demand for green steel solutions. Boston Metal’s Molten Oxide Electrolysis (MOE) technology is a direct, one-step process that can produce high-quality steel from abundant medium- and low-grade iron ores. This flexibility is unique and positions MOE to meet the growing demand for environmentally sustainable steel in various industries. As a platform technology, MOE also allows for the extraction of high-value metals from previously unusable low-concentration materials, like mining waste.
This funding announcement follows Boston Metal's recent selection by the U.S. Department of Energy to establish a chromium metal manufacturing plant in Weirton, West Virginia to onshore production of a material critical to the aerospace, chemical processing and nuclear industries.
About Boston Metal
Boston Metal is commercializing Molten Oxide Electrolysis (MOE), a tonnage metals technology platform powered by electricity, to decarbonize steelmaking and transform how metals are made. MOE provides the metals industry with a scalable, cost-competitive and green solution for the production of steel and high-value metals from a variety of feedstocks and iron ore grades. Backed by visionary investors and led by a world-class team, Boston Metal is headquartered in Woburn, Massachusetts and has a wholly owned subsidiary in Brazil. Learn more at bostonmetal.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240129781069/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bial Reports Topline Results From ACTIVATE Phase 2b Study in GBA‑Associated Parkinson’s9.6.2026 08:00:00 CEST | Press release
Bial, an innovation-driven biopharmaceutical company focused on neurosciences and rare diseases, announced today that the Phase 2b ACTIVATE study of BIA 28-6156 (pariceract) in patients with Parkinson’s who have a pathogenic variant in the GBA1 gene (GBA-PD) did not meet its primary, nor the key secondary efficacy endpoints, meaning that BIA 28-6156 failed to slow the progression of GBA-PD versus placebo. BIA 28-6156 proved to be generally well tolerated in the study, with no unexpected safety concerns arising. While the study data provide valuable scientific information and contribute to a broader understanding of Parkinson’s biology, BIA 28-6156 did not demonstrate significant differentiation from placebo on the primary or key secondary endpoints measured. Based on the lack of demonstrated efficacy in this study, Bial has made the decision to discontinue further development of BIA 28-6156 for this indication. “We are disappointed with the outcome of the Phase 2b ACTIVATE study, as th
Avanzanite Expands into Spain and Appoints María Baquerizo as Country Manager9.6.2026 07:30:00 CEST | Press release
Avanzanite Bioscience B.V., a rapidly growing commercial-stage European specialty pharmaceutical company focused on rare diseases, today announced its expansion into Spain and the appointment of María Baquerizo López-Quectuy as Spain Country Manager. This follows a €32 million Series A investment by MVM Partners announced in November 2025 and the recent entry to France. Avanzanite’s continues to build its integrated European platform designed to accelerate access to innovative therapies for people living with rare diseases. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608541655/en/ María Baquerizo López-Quectuy, Country Manager, Avanzanite Spain “Spain is an essential part of Avanzanite’s European vision,” said Adam Plich, Co-Founder and CEO, Avanzanite Bioscience. “The country combines scientific excellence, a sophisticated healthcare ecosystem and a large community of patients living with rare diseases who continue to
Cursor Announces EMEA Office and Team Expansion to Meet Regional Demand9.6.2026 07:00:00 CEST | Press release
London headquarters will open this summer and grow to approximately 200 employees by year-end as EMEA becomes Cursor's fastest-growing region Cursor, the leading multi-model AI coding platform, today announced the establishment of dedicated teams to serve the EMEA region. The expansion responds to regional momentum, with EMEA revenue tripling quarter over quarter this year. The Cursor EMEA team will support a rapidly expanding customer base that includes British Airways, BP, Deliveroo, Nokia, Sanofi and many other leading enterprises across the region. Cursor expects to grow its EMEA headcount to approximately 200 employees by the end of the year, hiring across go-to-market, engineering, customer success and operations. “We’re incredibly excited to officially launch Cursor across EMEA and deepen our commitment to customers and partners throughout Europe. As the leading AI coding company, our goal is simple: be closer to the teams building the future and help enterprises accelerate thei
Signaloid to Preview New ASIC and Demo of Its UxHw® Technology at Bosch Connected World9.6.2026 07:00:00 CEST | Press release
British AI hardware company Signaloid will preview its recently-taped-out ASIC for physical AI at Bosch Connected World, from 10th–11th June 2026, in Berlin.The ASIC is complementary to Signaloid’s edge hardware modules which are already achieving over 37-fold speedup for algorithms used in physical AI and robotics. British computing technology company Signaloid will preview its C0-ASIC for physical AI this week at Bosch Connected World, taking place from 10th-11th June, in Berlin. Designed for robotics, industrial automation, and probabilistic AI workloads, the ASIC is projected to deliver up to 1000× better performance-per-Watt than existing state-of-the-art approaches. Signaloid’s distribution-extended compute hardware (UxHw®) is already available for use in physical AI/robotics as a family of hardware modules, as well as via a virtualization- and binary-translation-based solution. UxHw enables autonomous mobile robots (AMRs) to improve their navigation algorithms for safer and fast
Hitachi and Google Cloud Expand Strategic Alliance to Accelerate Real-world Deployment of Physical AI Through FDE and Advanced Cybersecurity Solutions9.6.2026 02:20:00 CEST | Press release
Hitachi and Google Cloud will bolster FDE capabilities to accelerate physical AI globally by combining Hitachi’s co-creation approach and digital engineering capabilities cultivated through Lumada with Google Cloud’s advanced AI. Through the development of these FDE capabilities, Hitachi and Google Cloud will enhance HMAX using Gemini Enterprise, helping solve frontline worker challenges through autonomous operations in complex environments. By scaling FDE knowledge, Hitachi will deliver value to a wider range of customers. Expanding the collaboration, Hitachi and Google Cloud will enable customers to bolster their cyber defense capabilities against AI-driven cyber threats. Hitachi, Ltd. (TSE:6501, "Hitachi") today announced the expansion of its strategic alliance*1 with Google Cloud to support customers by accelerating the real-world deployment of physical AI and cybersecurity solutions to protect against AI generated threats. Garnering increasing attention, physical AI is a technolog
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom