# ArcelorMittal invests $120 million in Boston Metal for green steel

ArcelorMittal invested $120 million in Boston Metal, a company developing green steel technology using renewable electricity. The funds will expand a pilot plant in Woburn, Massachusetts, and launch commercial production in Brazil.

- Type: Investment
- Announced: 2023-01-30
- Where: Woburn, Massachusetts, United States
- Value: $120.0M
- Status: announced
- Products: green steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Boston Metal](https://endata.com/companies/68198.md)
- [ArcelorMittal](https://endata.com/companies/292.md) (investor)

## Sources

- [indiatoday.in](https://www.indiatoday.in/science/story/arcelormittal-invests-120-million-in-us-company-to-make-green-steel-2328146-2023-01-30), 2023-01-30: "Boston Metal announced a $120 million investment from the world's second-largest steelmaker, ArcelorMittal."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.