Firm’s Energy & Sustainability Team Continues to Support Innovators Developing Greener Steel Production
The Mintz Energy & Sustainability team represented global metals technology solutions company Boston Metal in its $50 million Series B financing, helping to position 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 parent company of Fidelity Investments. Existing investors Breakthrough Energy Ventures, Prelude Ventures, OGCI Climate Investments, and The Engine also participated in the round.
Spun out of Massachusetts Institute of Technology in 2012, Boston Metal is commercializing MOE, a patented tonnage metals production platform that provides the metals industry with a more efficient, lower cost, and greener solution for the production of a wide variety of metals and alloys from a wide variety of feedstocks. Boston Metal works closely with customers to tailor the MOE technology for specific alloys, feedstocks, and business needs.
For several years, Mintz has partnered with innovators at Boston Metal to support their development of a greener way to produce steel. In 2018, Mintz also represented Boston Metal in its $20 million Series A financing. Both of these successful venture capital financings have been integral in advancing the company’s vision of a world with no pollution from steel and other metals production, which is the largest industrial source of greenhouse gas worldwide. With its game-changing MOE technology, Boston Metal has the potential to eliminate two billion tons of CO2 emissions annually.
The Mintz team that represented Boston Metal in its Series B financing was led by Member and Chair of the firm’s Energy & Sustainability Practice Tom Burton and Member Dinesh Melwani, and included Associates Rachel Gholston and Sarah Palmer.
Understanding the urgent need for sustainable energy solutions in the marketplace, Mintz was one of the first law firms to develop a practice focused on energy and sustainability innovation, and has been the leading law firm in the industry since the earliest days of this technology revolution. The Mintz Energy & Sustainability Practice now serves more than 250 clients, spanning the ecosystem from emerging companies to large corporations, private equity and venture capital funds, investment banks, project developers and project finance funds, and family offices.
In addition, Mintz has a strong technology sector focus and represents innovative companies throughout the business lifecycle, with a passion for supporting startups and entrepreneurs. The firm’s attorneys provide legal services for start-ups, facilitate financing for growing companies, negotiate strategic transactions and collaborations for a variety of stakeholders, and help clients achieve regulatory compliance, protect their intellectual property assets, and more.