https://www.bloomberg.com/news/articles/2021-01-11/bhp-invests-in-startup-seeking-to-make-emissions-free-steel?sref=jjXJRDFv


BHP Group, the world’s biggest mining company, has invested in a startup company seeking to develop less-polluting ways of making steel.

While many in the mining industry have outlined how they plan to curb their own direct pollution, those emissions are a fraction of ones produced by customers, with steelmaking one of the biggest global emitters. Rather than set hard targets to reduce so-called Scope 3 emissions, companies like Rio Tinto Group and BHP have committed to working with the steel sector to help develop new technologies instead.

BHP has previously pledged $400 million in research funding to tackle carbon emissions caused by its buyers. The company has also said it will tie a portion of bonus payments for key leaders to progress on lowering greenhouse gas emissions at both its own operations and those of its customers.

BHP was among investors backing a $50 million fundraising round for Boston Metal, the startup said Monday. The company, which already counts Bill Gates-founded Breakthrough Energy Ventures among its investors, is developing a method to replace coking coal in the steelmaking process with electricity, reducing emissions.