Boston Metal has raised $50 million in Series B funding. 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.

Boston Metal is a provider of industrial-scale, metals production solutions utilizing its Molten Oxide Electrolysis (MOE) process. MOE provides the metals industry with a more efficient, lower cost, and greener solution for the production of a wide array of metals and alloys from a wide variety of feedstocks. Boston Metal was spun-out of MIT in 2012 with an investment from Ingo Wender and has since scaled the technology 1,000x and produced thousands of kilograms of metal.