What Boston Metal does

Boston Metal is a private metals technology company developing Molten Oxide Electrolysis (MOE), a high-temperature electrochemical process that uses electricity at approximately 1,600°C to convert metal oxides into liquid metal and industrial-grade oxygen. Its feedstock scope includes iron ore, low-grade materials, mining tailings, and industrial waste. The company applies one platform across MOE Critical Metals, targeting niobium, tantalum, vanadium, nickel, tin, and chromium recovery, and MOE Steel, targeting liquid iron production.

MOE Steel uses a multi-inert-anode cell architecture; Boston Metal commissioned an industrial cell at Woburn in March 2025 that produced more than one ton of molten iron.

Boston Metal serves mining companies, steel manufacturers, and advanced-manufacturing customers through direct enterprise sales, customer-site pilots and deployments, and strategic partnerships. Its near-term revenue logic is critical-metals production and sales plus waste-to-value services, while green-steel technology licensing is a future commercial stream planned for 2026-2028. Pricing is quote-based and undisclosed; access to low-cost renewable electricity is a stated cost dependency. Woburn is headquarters and R&D, Brazil hosts the first commercial critical-metals deployment, and Weirton, West Virginia is a planned chromium and alloy facility. Revenue has not been publicly reported.

Name

Boston Metal

Legal name

Boston Electrometallurgical Corporation

Website

https://bostonmetal.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

251–500 employees

Short description

Boston Metal develops Molten Oxide Electrolysis, a high-temperature electrochemical platform that produces metals from ore and waste. It serves mining and steel companies through critical-metals recovery, green-steel technology, direct deployments, and planned licensing.

Ownership category

akta.pro rank

Product category

Industrial Metals Manufacturing

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Iron and Steel Mills and Ferroalloy Manufacturing (3311), Nonferrous Metal (except Aluminum) Production and Processing (3314)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330), Metal Mining (1000), Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) (3312)

akta.pro primary industry

Integrated Steelmaking (BF-BOF) (IMAKABAA)

akta.pro secondary industries

Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA), Nickel Mining & Concentrates (IMAKAFAB)

Keywords

• Green steel production
• Critical metals recovery
• Molten oxide electrolysis
• Steel decarbonization technology
• Mining waste recycling

Headquarters

HQ city

Woburn

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Supply Chain

Revenue model

1. Critical Metals Production and Sales: Revenue generated from producing and selling critical metals (niobium, tantalum, vanadium, nickel, tin, chromium) extracted from mining waste and industrial slag using MOE technology. These metals command premium prices (e.g., niobium and vanadium over $70,000 per ton), providing higher margins than commodity steel production.
2. Green Steel Technology Licensing: Future revenue stream from licensing MOE technology for green steel production to steel manufacturers globally. Technology commercialization planned for 2026-2028.
3. Waste-to-Value Services: Providing mining companies with MOE technology to recover value from tailings and slag, transforming environmental liabilities into revenue streams through circular economy partnerships.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Boston Metal develops and commercializes Molten Oxide Electrolysis (MOE), an electrified platform technology that uses electricity at approximately 1,600 degrees Celsius to extract liquid metals from metal oxides with oxygen as the only byproduct. The company's product lines include MOE Critical Metals, which selectively recovers valuable metals such as niobium, tantalum, tin, vanadium, nickel and chromium from mining tailings and industrial slag, and MOE Steel, which produces carbon-free liquid iron from iron ore for green steelmaking.

Product overview

Boston Metal offers a unified platform technology called MOE (Molten Oxide Electrolysis) with two main product lines: MOE Critical Metals and MOE Steel. MOE Critical Metals recovers high-value critical metals (niobium, tantalum, tin, vanadium, nickel, chromium) from mining waste and industrial slags through electrochemical extraction. MOE Steel applies the same platform to decarbonized steel production using renewable electricity. The company's Brazilian subsidiary (Boston Metal do Brasil) handles critical metals operations while U.S. operations focus on steel technology development. All offerings are powered by the MOE platform technology.

Differentiator

Problem solved

Functional benefit

Brands

• MOE (Molten Oxide Electrolysis): Boston Metal's patented platform technology that uses electricity to produce metals from a wide range of inputs, including green steel production and critical metals recovery from mining waste.

Products and services

• MOE Critical Metals MOE Critical Metals uses the MOE platform to selectively extract valuable metals including niobium, tantalum, tin, vanadium, nickel, and chromium from low-grade materials and industrial waste streams including mining tailings and metallurgical slag. It is intended for mining and metallurgical companies seeking to recover value from waste streams that contain recoverable critical metals.
• MOE Steel MOE Steel applies the MOE platform to produce green steel from iron ore using renewable electricity, eliminating carbon emissions from the steelmaking process and producing liquid iron and industrial-grade oxygen as the only byproduct. It is intended for major steel manufacturers seeking low-carbon steelmaking alternatives.
• MOE Platform Technology MOE Platform is Boston Metal's patented electrochemical platform technology that uses electricity to convert metal oxides into liquid metal and oxygen. The platform is offered for technology licensing to steel manufacturers globally and underpins both the MOE Critical Metals and MOE Steel product lines.

Quantifiable outcome

• Produces liquid iron and oxygen as the only byproduct with zero carbon emissions
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• St George MiningcoreStrategic or Co-development Partner · 1 April 2026Australian mining company signed processing deal to trial MOE technology for niobium production from Araxá rare earths project (95.47Mt at 0.59% grade). Strategic positioning for Western niobium supply alternative to China-dominated chains.
• OutokumpucoreStrategic or Co-development Partner · 1 September 2025European stainless steel producer signed MoU to apply MOE to side-stream recycling and secure chromium feedstock for MOE Steel inert anodes. Advances sustainability and strengthens supply chains for carbon-free metals production.
• CBMMcoreStrategic or Co-development Partner · 28 April 2020World's leading niobium supplier (80% of global production) partnered to trial MOE technology for niobium product production at Araxá facility. Deploys MOE hardware and personnel at CBMM headquarters. CEO Carneiro's 30 years of CBMM experience enables deep partnership.

Scale indicators8 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Metalysis: Metalysis is a UK-based company commercializing the FFC Cambridge process — an electrochemical direct reduction technology for producing metals from oxides, conceptually adjacent to MOE. Metalysis pursues similar specialty metal and titanium powder markets using electrolytic routes, making it a technology-side direct peer in electrochemical metal extraction.
• Stegra (formerly H2 Green Steel): Stegra is a Swedish green steel producer building large-scale hydrogen-DRI steel plants, backed by substantial project finance and offtake from Mercedes-Benz and others. As one of the most capitalized green steel challengers, Stegra directly competes with Boston Metal's MOE Steel for the same decarbonized steel customers and will pressure first-mover positioning if hydrogen-based routes scale faster.
• NioCorp Developments: NioCorp is developing the Elk Creek critical minerals project in Nebraska targeting niobium, scandium, titanium, and rare earths — the same critical metals space where Boston Metal's MOE Critical Metals is creating a recovery platform. Both companies pursue US and Western-allied supply chain diversification for niobium and complementary specialty metals.
• Electra: Electra is a Boulder-based startup developing electrolysis-based green iron/steel production using renewable electricity — the same fundamental approach as Boston Metal's MOE. Both companies target decarbonizing primary steelmaking with electrochemical routes, compete for similar strategic investor and customer pools, and are racing to first commercial-scale deployment.

Broad incumbents

• Nucor Corporation: Nucor is the largest US-based steel producer and a major EAF-driven steelmaker with active investments in green steel pathways. Nucor is a likely US customer for green steel offtake and competes broadly in the same addressable market as Boston Metal's MOE Steel.
• SSAB: SSAB is a Nordic steelmaker leading the HYBRIT initiative with LKAB and Vattenfall to produce green steel using hydrogen-based direct reduction. SSAB is one of the most advanced established players in green steel and competes directly with Boston Metal for steel offtake and decarbonization mandates.
• ArcelorMittal: ArcelorMittal is the world's largest steel producer, the lead investor in Boston Metal's Series C ($262M), and runs its own XCarb decarbonization program. As a strategic investor, customer, and parallel R&D investor, ArcelorMittal is the highest-stakes counterparty and competitor in Boston Metal's commercial landscape.
• CBMM: CBMM is the Brazilian niobium producer controlling approximately 80% of global niobium supply, and is both a strategic Boston Metal partner (since 2020, MOE trials at Araxá) and a dominant incumbent in the critical metals market Boston Metal is targeting for value recovery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bostonmetal

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries1 record

Funding overview

Funding rounds13 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boston Metal