EnergySource Innovation Stream with Boston Metal: Decarbonizing the steel industry
Please join the Atlantic Council Global Energy Center for the next episode of EnergySource Innovation Stream. This series highlights new energy technologies with the potential to reshape the global energy system through discussions with companies and individuals working diligently to bring those innovations to market at scale. On Thursday, May 19 from 2:30 p.m. – 3:00 p.m. ET, the Global Energy Center hosts Adam Rauwerdink, senior vice president of business development at Boston Metal, to discuss the company’s innovative approach to decarbonizing steel production. David Yellen, Associate Director at the Atlantic Council Global Energy Center, moderates the discussion.
Boston Metal is commercializing a revolutionary one-step process to decarbonize steel production using clean electricity, helping to eliminate 10% of the world’s carbon emissions. Steel is the foundation of our society, but it’s also one of the greatest threats to the future of the planet, contributing 10% of global carbon emissions. For thousands of years, humans have burned fossil fuels to produce molten steel. With the growing imperative to halt climate change, steel producers are under increasing pressure from investors and customers to decarbonize what is traditionally a very expensive and complex multi-step process. Global steel production has almost tripled in the past 50 years with 2 billion tons produced in 2021. As the premier structural material in everything around us, demand for steel will only continue to grow. The steel industry needs a direct, scalable way of reaching net zero on the timeline society is demanding while keeping costs down and creating value throughout the supply chain.
Boston Metal’s breakthrough technology will electrify the steel industry and has the potential to eliminate 10% of global carbon emissions. The company’s patented molten oxide electrolysis (MOE) platform replaces fossil fuels with renewable electricity to convert all iron ore grades into high-purity liquid metal through a cost-efficient, one-step process. There are zero carbon emissions or harmful byproducts released during the process, only oxygen. With a highly modular and scalable solution, Boston Metal is enabling steel producers to meet growing global demand for low-cost, green steel while creating more economic opportunities across the steel value chain. Backed by leading investors and led by a world class team of scientists and metals industry veterans, Boston Metal is the only company with a direct, scalable approach to green the most important engineering material in the world.