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We’re over a year into the second Trump administration here in the US, and support for climate causes is weak. But climate tech companies are finding ways to survive and even thrive in this new environment, including by focusing on potential benefits outside decarbonization.
Suddenly, it feels like every climate tech company has a story to tell about topics that are politically in vogue: data centers, energy abundance, or critical minerals. In my newest story, I covered Boston Metal’s latest funding round. Largely known for its efforts to produce steel with lower greenhouse gas emissions, the company raised $75 million from new and existing investors to help support its critical metals business.
Focusing on metals like niobium and tantalum won’t have the massive climate benefit that cleaner steel would, but it could generate the cash the company needs to keep going. It’s a strategy I’m noticing more as these tough industries like steel look ever tougher to succeed in with limited federal support in the US.
Boston Metal’s molten oxide electrolysis technology uses electricity to produce metals.
I covered the startup last year, when it announced a major milestone for its steel business, running its pilot reactor in Massachusetts and producing a literal ton of material.
Now the company’s focus has shifted, and it is going all-in on making other metals, from niobium and tantalum (used in aircraft engines and high-end steel alloys) to chromium and vanadium.
The steel industry is a difficult one: It operates at a massive scale, and the product doesn’t command too high a price. Focusing on other metals, especially ones the US government deems critical, could be a way to stay afloat, maybe even long enough to meaningfully cut emissions from the steel industry.
“By deploying in the critical metals industry where we can go very fast, we generate the resources to continue with the development of steel,” says Tadeu Carneiro, CEO of Boston Metal.
Other companies are also hoping critical materials could help their business models.
California-based Brimstone has a new process to make cement—another heavily polluting industry that’s proving difficult to decarbonize. The company uses a new starting material to help cut down on carbon dioxide emissions. In addition to cement, it makes supplementary cementitious materials that can be added into concrete as well as smelter-grade alumina.
Last year, the US Department of Energy canceled $1.3 billion in funding that had been set aside for cement-related projects. Brimstone saw one of its awards canceled, as did Sublime Systems, another cement startup I’ve covered a lot over the years.
At the time, a Brimstone representative told me that the company saw the cancellation as a “misunderstanding” and said the facility the funding had been designated for would make not only cement, but also alumina, which would support US aluminum production.
Today, the company’s website prominently highlights that it produces critical minerals in addition to cement.
Some carbon dioxide removal companies are hoping to hop on the critical minerals train, too, aiming to work with the mining industry. Others are pitching that they can help mining operations operate more efficiently or serve as cleanup for active or abandoned mine sites.
All of this is part of a much broader messaging shift. Everyone from politicians to heads of energy companies is talking less about climate.
It’s a trend that makes me nervous, even if I understand the impulse. I worry that if we keep too quiet on climate, companies might lose the plot and make choices that won’t help cut emissions. But for some, leaning into a different priority or pushing a different message could help them stay in business long enough to make a difference. We’ll all have to wait to see how it all pans out.
This article is from The Spark, MIT Technology Review’s weekly climate newsletter. To receive it in your inbox every Wednesday, sign up here.
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