Boston, May 26, 2021 – Boston Metal has been named a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories. Some 113 finalists have been selected from 21 countries for the ninth annual S&P Global Platts Global Metals Awards. The awards program, hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets.
Boston Metal is working to deliver a future where steel production is emissions free. Steel production has relied on the same formula since the iron age and today is responsible for over 8% of global CO₂ emissions. Boston Metal’s molten oxide electrolysis (MOE) technology provides the metals industry with a more efficient, lower cost, and greener solution. That game-changing technology earned a finalist slot in the New Technology for the Metals & Mining Industry category.
Boston Metal’s technology combines patented innovations with best practices from the aluminum and steel industry to provide a revolutionary solution to the carbon emissions challenge facing the steel industry. The technology uses electricity to reduce iron ore into high-purity molten iron. There is no carbon used in the reduction process and no CO₂ is emitted. The by-product is oxygen. The process is also highly energy efficient. To produce a tonne of steel using the incumbent process, about 5.5 MWh of coal energy is required. The MOE process requires only 4 MWh of electrical energy per tonne of steel.
From today’s list of finalists, an independent panel of judges will select winners, which will be singled out for recognition later this fall, on October 14th. Each category’s winner will be chosen from its respective list of finalists, while the 2021 Metals Company of the Year winner will be chosen from the entire list of finalist companies.
Dave Ernsberger, Global Head of Pricing and Market Insight, S&P Global Platts, said: “COVID-19 has taken a serious human, financial and economic toll, including longer-than-expected lockdowns and 2nd and 3rd waves. The metals and steel raw materials markets have shown remarkable resilience in the face of this adversity and in many cases, growth and innovation. Increasingly, companies across these industries are expressing optimism and preparing for life after pandemic – this is demonstrated by the active nominations participation and by the industry’s expressed interest to gather again.”
Sharing the burgeoning optimism and strong desire to this year bring back the physical celebration of industry accomplishments, the Global Metals Awards team has arranged for the October Awards program to be both physical and virtual, in a first-ever hybrid event to benefit a global audience.
To view the list of finalists for the 2021 S&P Global Platts Global Metals Awards and for event and program updates visit: https://www.spglobal.com/platts/global-metals-awards/finalists.
About Boston Metal
Boston Metal is a global metals technology solutions company that is commercializing molten oxide electrolysis (MOE), a patented tonnage metals production platform. MOE provides the metals industry with a more efficient, lower cost, and greener solution for the production of a range 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. To learn more about Boston Metal, visit www.bostonmetal.com.
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil, gas, LNG, power, petrochemicals, metals, agriculture and shipping. S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com