KLA advised the IFC (International Finance Corporation), part of the World Bank, on an minority investment in Boston Metal to develop business in Brazil involving technological and ecological solutions for the mining industry.
KLA assisted reviewing the businesses and operations developed in Brazil by Boston Metal, encompassing the legal aspects of society, specially environmental, intellectual property and real estate issues to be addressed in the financing agreements.
IFC’s investment is of great importance for the ESG market, as it represents a considerable contribution to an activity that will change the way steel production is conducted in the mining industry. Boston’s technology is focused on the elimination of carbon dioxide (CO2) through molten oxide electrolysis without the use of polluting coal, reducing the emission of greenhouse gases and achieving a production free of CO2 emissions.
In addition to IFC, Boston Metal attracted investors such as the world’s second largest steelmaker, ArcelorMittal, as well as the Microsoft Climate Innovation Fund.
Click here to access the news of the operation on the IFC website