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20 Feb

ArcelorMittal's XCarb fund invests in Boston Metal research

ArcelorMittal’s 2021 XCarb Innovation Fund has invested $36 million in Boston Metal, sponsoring its research into molten oxide electrolysis (MOE) technology, which it expects to bring to market in 2026, Kallanish understands. MOE transforms iron ore into iron, using clean electricity, thereby removing carbon from the steelmaking process (see Kallanish 30 January 2023). Boston Metal is working in tandem with the Brazilian state of Minas Gerais where subsidia…
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