Fundraising Fox

Boston Metal

Woburn, US · 309 employees on LinkedIn · 14 known investors

Boston Metal develops Molten Oxide Electrolysis (MOE), an electrified process for producing steel and other metals from a range of oxide feedstocks without direct emissions. The company targets industrial metals and critical-metals production, operating from Massachusetts with a subsidiary in Brazil.

Advanced ManufacturingCleantechClimate TechNew Materials

Founders & leadership

DSDonald Sadoway
Donald SadowayinCo-founder (MIT professor)Director at Boston Electrometallurgical
AA
Antoine AllanoreCo-founder (MIT professor)
TCTadeu Carneiro
Tadeu CarneiroinChairman and Chief Executive Officer

Investors · 14

Breakthrough Energy Ventures✓ verifiedBoston · $500K – $50M
Climate Investment✓ verifiedLondon
Prelude Ventures✓ verifiedSan Francisco · $100K – $5M
International Finance Corporation✓ verifiedWashington D.C. · $20M – $500M
BMW i VenturesMountain View · $10M
Energy Impact PartnersNew York · $5M – $20M
Fine Structures VenturesCambridge
Khosla VenturesMenlo Park · $5K – $50M
Marunouchi Innovation PartnersTokyo
Piva CapitalSan Francisco
The Engine VenturesCambridge
Aramco Venturesreported
BHP Venturesreported
PETRONAS VenturesreportedKuala Lumpur

Competitors · 1

by search overlap
Pano AI14 shared keywordsPano develops artificial intelligence and machine learning technology solutions to help utility companies and fire agencies detect and manage wildfire threats. The company serves emergency managers and professionals in the utility and fire industries seeking to protect communities from wildfires.

Companies competing with Boston Metal for the same Google search keywords, organic and paid, via search-intersection analysis.

Non-dilutive funding · 5 SBIR/STTR awards

Federal grants — no equity taken
AgencyPhaseYearAmount
Department of EnergyPhase I2018$150K
Department of EnergyPhase II2015$1M
National Science FoundationPhase II2015$497.5K
Department of EnergyPhase I2014$150K
National Science FoundationPhase I2014$150K

Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.

In the news

Boston Metal raises $75M - Recycling Todayrecyclingtoday.com · May 2026MIT spinoff secures $75M after 'industrial accident' halts Brazil metal production - Boston Business Journalbizjournals.com · May 2026Boston Metal Raises $75 Million to Scale Critical Metals Businessglobenewswire.com · May 2026Green steel startup Boston Metal is doubling down on critical metals | MIT Technology Reviewtechnologyreview.com · May 2026Boston Metal Announces $51 Million Convertible Note to Accelerate Scale-Up of Critical Metals Plant and Capitalize on Recent Steel Technology Milestoneglobenewswire.com · Jul 2025Boston Metal Notches $262 Million Funding Round for Clean Steelenergyconnects.com · Sep 2023Green steel startup Boston Metal raises $120M for its fossil-free techcanarymedia.com · Jan 2023

Frequently asked questions

What does Boston Metal do?
Boston Metal develops Molten Oxide Electrolysis (MOE), an electrified process for producing steel and other metals from a range of oxide feedstocks without direct emissions. The company targets industrial metals and critical-metals production, operating from Massachusetts with a subsidiary in Brazil.
Who founded Boston Metal?
Boston Metal was founded by Donald Sadoway, Antoine Allanore.
Who are Boston Metal's investors?
Boston Metal's investors include Breakthrough Energy Ventures, Climate Investment, Prelude Ventures, International Finance Corporation, BMW i Ventures, Energy Impact Partners, Fine Structures Ventures, Khosla Ventures and 6 more.
Where is Boston Metal headquartered?
Boston Metal is headquartered in Woburn, US.