MA-BOSTON-METAL
Boston Metal, a global metals technology solutions company, celebrates today the inauguration of the first facility for its Molten Oxide Electrolysis (MOE) technology platform to recover high-value metals from mining waste in Brazil. This deployment is a major milestone for Boston Metal’s technology and operations as it works toward commercializing MOE for green steel in 2026.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240307594443/en/
Boston Metal inaugurated the first facility for its Molten Oxide Electrolysis (MOE) technology platform today in Brazil. The company's first commercial deployment of the technology will be to recover high-value metals from mining waste. (Photo: Business Wire)
The inauguration ceremony for Boston Metal do Brasil is taking place today with the governor of the state of Minas Gerais, local authorities and multiple representatives from the company’s investor syndicate in attendance.
“This first commercial deployment represents a beacon of progress in advancing sustainable metals production,” said Tadeu Carneiro, CEO of Boston Metal. “As proud as we are today, this is only the beginning. Our high-value metals business will expand rapidly and will support us as we scale our MOE platform to meet the growing global demand for green steel.”
In Brazil, Boston Metal will empower mining companies to recover value from a liability while advancing a circular economy for the metals industry. The company’s MOE technology—the same platform that will eventually be used in commercial deployments of its green steel solution—uses electricity to selectively extract valuable metals from complex, low-concentration materials that are currently considered waste. This enables mining companies to reduce the financial and environmental liabilities of slag by leveraging this natural by-product of metal production to create new revenue streams.
“This facility is a testament to the dedication and expertise of our incredible team,” said Itamar Resende, president of Boston Metal do Brasil. “We’re committed to excellence and look forward to transforming the future of metallurgical production with our high-value metals business.”
The company is already mobilizing for the construction of the next phase of its operations in Brazil. This includes growing the local team of 80 to over 250 employees in the coming years. In addition, Boston Metal has been selected 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.
To learn more about Boston Metal’s high-value metals business, visit https://www.bostonmetal.com/high-value-metals/. For more information on Boston Metal do Brasil, visit https://br.bostonmetal.com/.
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/20240307594443/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
DAIICHI-SANKYO31.8.2024 17:01:35 CEST | Press release
Daiichi Sankyo Shines a Light on Inequalities and Unmet Needs in Care as Part of Its Commitment to People With Cardiovascular Disease
SUZANO31.8.2024 00:41:35 CEST | Press release
Suzano completes purchase of 15% stake in Lenzing AG
ANT-INTERNATIONAL30.8.2024 20:47:31 CEST | Press release
Ant International Collaborates with Brazilian Partners to Drive Financial Inclusion with Innovative Credit Tech Solutions
NJ-WIPRO-LIMITED30.8.2024 16:21:28 CEST | Press release
Wipro Appoints Srikumar Rao as Global Head of Its Engineering Edge Business Line
MA-ALNYLAM30.8.2024 12:01:34 CEST | Press release
Alnylam Presents Detailed Results from the Positive HELIOS-B Phase 3 Study of Vutrisiran▼ in Patients with ATTR Amyloidosis with Cardiomyopathy at the European Society of Cardiology Congress
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