Backed by IFC, deep-tech startup Boston Metal is developing and scaling a breakthrough technology that can help decarbonize the steel industry, which accounts for about 7% of global greenhouse gas emissions. With about 60% of crude steel being manufactured in developing countries, this technology has the potential to play a pivotal role in accelerating the sustainable growth of emerging markets.
IFC’s investment will also help ramp up the application of this new technology in the extraction of high-value metals from mine waste, helping to fund Boston Metal’s first production facility in Brazil.
