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home / news releases / MT - ArcelorMittal to park $36M in steel decarbonisation disruptor-Boston Metal

MT - ArcelorMittal to park $36M in steel decarbonisation disruptor-Boston Metal

Arcelor Mittal NY Registry Shares NEW

ArcelorMittal ( NYSE: MT ) has invested $36M in Boston Metal. The transaction is the company’s largest single initial investment to date through its XCarb Innovation Fund.

The fund, launched in March 2021, targets investing in the best and brightest technologies that hold the potential to play a meaningful role in the decarbonisation of the steel industry, a process ArcelorMittal intends to lead.

The company’s investment has led a $120M Series C fundraising round undertaken by Boston Metal.

Founded in 2013, Boston Metal is developing and commercialising a patented Molten Oxide Electrolysis platform for decarbonising primary steelmaking.

For further details see:

ArcelorMittal to park $36M in steel decarbonisation disruptor-Boston Metal
Stock Information
Company Name: Arcelor Mittal NY Registry Shares NEW
Stock Symbol: MT
Market: NYSE
Website: arcelormittal.com
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