The funds are intended to support the construction of the second phase of the critical metals plant in Brazil, which is scheduled to go into operation in mid-2026. Steel production using electrolysis is also to be further advanced.
Boston Metal, a technology company redefining global metals production, today announced it has raised $51 million in a convertible note investment from existing investors including BHP Ventures, Breakthrough Energy Ventures, Piva Capital and SiteGround. Underscoring sustained investor confidence in Boston Metal’s team, technology and dual-business unit strategy, funds from the note will support the deployment of the second phase of its critical metals plant in Brazil, slated to come online in mid-2026, and reinforce the company’s continued development of its green steel solution.
“Boston Metal’s unique process makes steel production efficient, cost-effective and more sustainable,” said Laurel Buckner, VP of Ventures at BHP. “The investment in Boston Metal continues to drive BHP Ventures' support of game-changing technologies that drive innovation for the broader industry.”
This infusion of capital comes on the heels of multiple strategic advancements for the company. Boston Metal recently welcomed Eduardo Bartolomeo—former CEO of Vale and a globally respected metals executive—to its Board of Directors, reinforcing the company’s leadership bench as it scales for its next phase of growth.
In Brazil, Boston Metal’s Molten Oxide Electrolysis (MOE) Critical Metals business is expected to begin generating revenue later this year. The Minas Gerais facility uses MOE to recover high-value materials like niobium, tantalum and tin from mining waste. With this proven and profitable application of MOE technology, Boston Metal is unlocking new revenue streams from previously untapped resources while advancing the global circular metals economy.
Meanwhile, the company also commissioned its multi-inert anode MOE industrial cell earlier this year—a breakthrough for the steel industry that confirms the scalability of MOE Steel for commercial production. Located at the company’s Woburn, Massachusetts headquarters, the industrial cell is now producing tonnage steel and represents a critical step toward deploying Boston Metal’s first MOE Steel demonstration plant.
“This investment is a powerful vote of confidence in the initial commercial traction and market opportunity for our critical metals business, as well as the recent technology breakthrough in our steel program,” said Tadeu Carneiro, CEO of Boston Metal. “We are grateful for the ongoing support of our world-class investors.”
According to the company, Boston Metal is redefining global metals production with its patented Molten Oxide Electrolysis (MOE) platform technology. By delivering a scalable, carbon emissions-free solution for steel and a sustainable, highly profitable pathway to recover critical metals from mining and metallurgical waste. Boston Metal is unlocking new economic opportunities, enabling industrial onshoring and accelerating a commercially driven transition to cleaner industry, the company says.
Source: Boston Metal
