U.S., Jan. 10 -- Breakthrough Energy Ventures, a venture capital firm with Microsoft co-founder Bill Gates at the helm, has recently led a $20mn funding round into steel manufacturer, Boston Metal.
The aim to reduce emissions from its operations aligns with the VC's aim to reduce the impact of climate change, investing in companies that can deliver. Boston Metal will work towards reducing emissions in steel manufacturing by developing a process which utilises Molten Oxide Electrolysis, where the process could eliminate 2bn tonnes of CO2 emissions annually.
"Most metals are in nature as a form of oxide," explains Tadeu Carneiro, Chief Executive Officer, Boston Metal. "In order to get the metal, you have to break the bonds in the oxide and ...