Boston Metal is working on a green way to make steel. The company recently signed a $20 million funding deal with the private-sector investment arm of the World Bank, the International Finance Corporation. The steel industry, which is both the backbone of modern infrastructure construction and a significant contributor to climate change, generates between 7% and 9% of global carbon dioxide emissions.
The salient features of this technology from Boston Metal include:
- An electro-chemical process called molten oxide electrolysis
- The by-product of the process is oxygen
- The process uses low-grade iron ore
To read more, visit here.
