U.S.-based technology company Boston Metal has raised USD 75 mln in new funding to accelerate deployment of its Molten Oxide Electrolysis (MOE) technology platform and expand production of critical metals globally.
The latest financing round brings the company’s total funding raised to more than USD 500 mln. India’s Tata Steel also participated in the funding round alongside existing investors.
Boston Metal said the new capital will support commercial-scale deployments for production of critical metals including niobium, tantalum, vanadium, and nickel.
According to the company, its MOE technology enables recovery of high-value metals from low-grade raw materials and industrial waste streams, while reducing capital costs and improving metal yields.
The company stated that rising demand for critical metals linked to electrification, advanced manufacturing, artificial intelligence, and defense sectors continues to drive interest in alternative metal production technologies.
Boston Metal is developing its patented MOE technology as an electrified metal production platform capable of processing a wide range of metal oxides from different feedstocks. The company is headquartered in Massachusetts, U.S., and also operates a subsidiary in Brazil.