Boston Metal Secures $20M in Series C2 Funding, Bringing Total Round to $282M
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/
Contact information
Media
Derek Brekken
Antenna Group for Boston Metal
bostonmetal@antennagroup.com
media@bostonmetal.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
30 Peer-Reviewed Studies Highlight Statistically Significant Health Benefits of Almased16.7.2025 10:15:00 EEST | Press release
Two recent, peer-reviewed clinical studies have found that Almased, a high-protein, low-glycemic meal replacement, delivers significant health benefits ranging from weight loss and improved metabolic health to anti-aging effects and enhanced quality of life. Both reviews synthesize 30 peer-reviewed clinical studies across three decades of scientific research, confirming that Almased is effective and safe for weight reduction, preservation of lean muscle mass, and cardiovascular health. The 2025 review in the American Journal of Biomedical Science & Research highlighted Almased’s efficacy and safety for wide groups of people including individuals seeking weight loss, those with metabolic syndrome or fatty liver, older adults needing to preserve muscle mass, and athletes or healthy-weight individuals who require additional high-quality protein. This review also discusses how Almased’s patented fermentation process produces over 80 bioactive peptides, including 2 times the average daily i
Skechers AERO Series Opens New Chapter of Technical Running Innovation16.7.2025 10:00:00 EEST | Press release
Skechers Performance opens a new chapter of running innovation with the arrival of the Skechers AERO series. Named for the aerodynamic feel of the design, Skechers AERO represents the latest evolution of technical running shoes from the brand. The collection is engineered to deliver an exhilarating blend of speed, style and comfort to help runners cut through the wind and push beyond their personal bests while logging miles. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716754749/en/ Introducing the Skechers AERO Series of technical running shoes: Skechers AERO Burst, Skechers AERO Spark, and Skechers AERO Tempo (L-R). “Recently launched in North America and Asia, the AERO Series leverages innovative technologies to elevate our signature comfort that’s now available to runners in Europe,” said Ben Stewart, Vice President, Skechers Technical Performance Division. “An evolution of our legacy in running, Skechers AERO was d
The Future of Connectivity Starts Here: Network X Returns to Paris October 14 - 1616.7.2025 10:00:00 EEST | Press release
Network X 2025 - the only event that brings the fixed and mobile markets together - returns to Paris Expo Porte de Versailles October 14 - 16. Built for telecom's top players, this annual show drives business model innovation and monetisation of next-generation fixed, mobile, satellite and transport networks through AI and cloud. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716595903/en/ Speaker on Headliners Stage at Network X 2024 New to Network X in 2025 are specialty events designed to deliver expert insights on trending topics including Data Center World and two Expo Stages for Fixed-Line and Mobile. More than 5,500 telco network infrastructure professionals will gather alongside 1,500 telcos to learn from six program tracks highlighting the latest advancements in Fibre, Wi-Fi Networks and Services, IP and Optical Transport, Mobile Networks, Mobile Services, and Data Centres. “Network X is more than a conference—it
4Moving Biotech Enrolls First Patient in Phase 2a Trial of 4P004, a Potential First-in-Class GLP-1 Therapy for Knee Osteoarthritis16.7.2025 08:00:00 EEST | Press release
4Moving Biotech (4MB), a spin-off of 4P-Pharma dedicated to developing first-in-class treatments that modify the natural course of knee osteoarthritis (OA), today announced that the first patient has been enrolled in Phase 2a clinical trial, INFLAM MOTION. The study will evaluate 4P004, an intra-articular GLP-1 analog, as a potential first-in-class therapeutic candidate for knee osteoarthritis. INFLAM MOTION is a multicenter, randomized, double-blind, placebo-controlled Phase 2a trial planned to be conducted across Europe, the United States, and Canada. A total of 129 patients worldwide diagnosed with knee OA will be enrolled to evaluate, for the first time in humans, the efficacy of 4P004. “Enrolling our first patient is a pivotal step toward rewriting the treatment paradigm for knee osteoarthritis,” said Professor Francis Berenbaum, MD, PhD, Chief Medical Officer at 4Moving Biotech. “Almost 600 million people live with OA, yet no disease-modifying therapy has been done to patients. B
Belkin Achieves Qi2.2 Certification for Its Upcoming Products, Unlocking the Future of 25W Wireless Charging15.7.2025 20:06:00 EEST | Press release
Belkin, a leading consumer electronics brand for over 40 years, today announced it has received official Qi2.2 certification from the Wireless Power Consortium (WPC) for its upcoming products. As one of the first accessory brands to deliver Qi2.2-certified devices, Belkin is helping bring the next generation of wireless charging to market – enabling faster wireless charging speeds, broader compatibility, and improved performance for consumers. Belkin’s close partnership with the WPC since 2015 has been instrumental in bringing these advancements to consumers. As an early adopter and long-time contributor to WPC standards, Belkin was selected as one of a small group of trusted manufacturers to test and certify Qi2.2 products ahead of the broader industry rollout. All Belkin products undergo rigorous safety, quality, and performance testing. The company’s global headquarters includes WPC certified test equipment and state-of-the-art test labs dedicated to full product lifecycle validatio
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