Vale joins Boston Metal Series B; developing MOE for emissions-free steel
Boston Metal, an MIT spin-off working to commercialize molten oxide electrolysis (MOE) for emissions-free metals and alloys production, announced that Vale and Energy Impact Partners have joined its Series B fundraising, closely following a $50M close announced in January. MOE is an electrometallurgical technique that enables the direct production of metal in the liquid state from oxide feedstock.
Headquartered in Rio de Janeiro, Brazil and present on five continents, Vale is one of the largest metals and mining companies in the world based on market capitalization and one of the world’s largest producers of iron ore and nickel. It also produces iron ore pellets, manganese ore, ferroalloys, metallurgical and thermal coal, copper, platinum group metals (PGMs), gold, silver and cobalt.
Pivotal Commware’s Pivot 5G outdoor network repeaters can give a millimeter-wave boost to 5G wireless communications. (Pivotal Commware Photo)
Kirkland, Wash.-based Pivotal Commware says it has closed on a $50 million funding round that will help it expand research, development and distribution for its millimeter-wave 5G network infrastructure products.
Tracker Capital Management, a venture capital investment firm that’s headquartered in New York, led the Series C investment round. Other participants in the financing include Devonshire Investors and Pivotal’s existing investors including Microsoft co-founder Bill Gates.
Gates has been investing in Pivotal since 2017, not long after it was spun out from Intellectual Ventures. It’s one of several Gates-backed ventures that make use of metamaterials, an exotic breed of electronics that can channel signals without moving parts.
News Wire Feed Light Reading 2/11/2021
KIRKLAND, Wash. Pivotal Commware ( Pivotal ), a global leader in 5G mmWave infrastructure products, announced today the closing of a $50 million C round led by an affiliate of Tracker Capital Management, LLC ( Tracker Capital ), a stage-agnostic venture capital investor that principally invests in high-potential technology growth companies. Tracker Capital was founded by Stephen A. Feinberg who is also Co-Founder and Co-CEO of Cerberus Capital Management. Tracker Capital is joined in this round by Devonshire Investors, the private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments. Pivotal s existing investors, including DIG Investment, Thermo, Lux Capital and Bill Gates, also participated in the financing.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Boston Metal Expands Series B to Deliver Emissions-free Steel
February 9, 2021 GMT
BOSTON (BUSINESS WIRE) Feb 9, 2021
Boston Metal, the company delivering a future where steel production is emissions-free, today announced that Vale and Energy Impact Partners have joined its Series B fundraising, closely following a $50M close announced in January.
ADVERTISEMENT
“Boston Metal’s mission is to deliver emissions-free steel at global scale,” said Tadeu Carneiro, Chairman and CEO of Boston Metal. “Iron ore and clean electricity are the primary inputs into the MOE process and will heavily influence the design of our technology and our strategy. We are thrilled to add Vale and BHP, two of the largest iron ore companies, and Energy Impact Partners, a leading energy transition investor, to our world-class syndicate of investors and partners.”
BOSTON (BUSINESS WIRE) Boston Metal today announced it raised $50 million in Series B funding, positioning the company to accelerate industrial-scale deployments of its molten oxide electrolysis (MOE) technology towards emissions-free steel. The financing was led by Piva Capital, BHP Ventures, and Devonshire Investors, the private investment firm affiliated with FMR LLC, the