"Whenever I hear an idea for what we can do to keep global warming in check — whether it's over a conference table or a cheeseburger — I always ask this question: 'What's your plan for steel?'" Gates wroteOn Friday, Boston Metal announced it has raised $120 million Series C round, led by multinational steel giant ArcelorMittal, with funding from Microsoft's Climate Innovation Fund as well.
, which include being carbon negative by 2030 and removing all of the company's historic carbon emissions since the company was founded in 1975. Boston Metal's technology, Molten Oxide Electrolysis, passes electricity through the iron oxide mixed with what Carneiro calls a "soup of other oxides" to make iron and oxygen. Oxides are chemical compounds that contain at least one oxygen atom, and Boston's process includes common oxides like alumina, silica, calcium and magnesium.
There's a lot of room for carbon optimization here.