The Economist reports on a startup that is looking to decarbonize steelmaking.
- Steelmaking is a carbon-intensive process that is responsible for nearly 9% of global greenhouse gas emissions.
- Boston Metals, an MIT startup, has found a way to separate iron from its ore (a critical part of the steelmaking process) through electrolysis which produces zero greenhouse gas emissions.
- The company recently received $20 million from the International Finance Corporation and is in talks with two large steelmakers to build a test facility in the near future.
“Another advantage of relying on electricity is that the world already produces and distributes plenty of it, whereas almost no infrastructure yet exists for making and supplying hydrogen. To top things off, Boston Metal’s approach is based on cells that are much smaller than furnaces. That makes electrolytic production modular and easy to scale up.”
Read the full article here.
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