Startup’s Steel Innovation Could Reshape Industry
Boston Metal is garnering attention with its groundbreaking steel production technology, aiming to provide the industry with an escape from pollution-intensive blast furnaces. This innovative process, known as molten oxide electrolysis, has earned the company Fast Company’s World Changing Ideas Award in the climate category.
“We’re developing a solution that could fully replace the blast furnace,” said Adam Rauwerdink, Boston Metal’s senior vice president of business development, in a Fast Company report.
Making steel has historically been a dirty process and a significant contributor to global air pollution. Current methods involve separating ore into iron and oxygen, with coal-fired furnaces and electric arc furnaces dominating production. These methods contribute up to 10% of global air pollution, according to Fast Company, ScienceDirect, and other reports.
Boston Metal’s approach uses renewable electricity for electrolysis, converting ore into steelmaking metal without fossil fuels. The process occurs at approximately 2,912 degrees Fahrenheit. The technique simplifies the process and removes air pollution and harmful byproducts. The method doesn’t require process water or chemicals and can use ore of any grade, making it scalable. The company plans to commercialize its innovation by 2026.
“The one-step process is far simpler than typical smelting, and it doesn’t produce any carbon by-products. When the electricity comes from renewable sources, there are no carbon emissions at all,” wrote Jessica Hullinger of Fast Company.
With global steel demand predicted to increase by 30% by 2050, Boston Metal has secured $282 million in funding and $50 million in government grants. This funding will help finance a plant in West Virginia to produce chromium and other metals, creating hundreds of jobs.
“They’re losing jobs in the steel industry, so it’s important to bring jobs back to that region,” Rauwerdink mentioned.
This cleaner approach to steelmaking has garnered attention from investors like Bill Gates, who is also involved in projects focused on ore refinement. Reducing or eliminating 7% to 10% of the world’s air pollution could have a considerable impact on the planet and human health. Government health experts identify air pollution as a significant health hazard, contributing to 6.5 million deaths globally each year, according to the National Institute of Environmental Health Sciences.
Boston Metal is also generating revenue by using its technology to convert mine waste into useful metals at a facility in Brazil. However, the primary goal is to create cleaner steel.
“Steel is the big prize,” Rauwerdink stated.
