US company gets $120 million boost to make ‘green steel’

Published January 26, 2023 8:45 PM

By ED DAVEY

The manufacture of “green steel” moved a step closer Friday as Massachusetts-based Boston Metal announced a $120 million investment to help it produce steel that is far less damaging to the climate than traditional steel. Producing the metal is one of the world’s dirtiest heavy industries, with three-quarters of world production using furnaces fed by coal. Boston Metal will use the funding from metals giant ArcelorMittal to expand production of green steel at a pilot plant near Boston, and help launch commercial production in Brazil. The company uses renewable electricity on iron ore to purify the iron to make steel.

Article Topic Follows: AP National Business

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