Boston Metal receives $120m in green steel funding round

Gates has for years emphasized the need to think about decarbonizing the manufacturing sector. “Whenever I hear an idea for what we can do to keep global warming in check — whether it’s over a conference table or a cheeseburger — I always ask this question: ‘What’s your plan for steel?’” Gates wrote on his own blog in 2019.

With the funding, Boston Metal will ramp up production of green steel at its pilot facility on Woburn, Massachusetts, and support the construction of its Brazilian subsidiary, Boston Metal do Brasil, where the company will manufacture various metals.