On February 1st, 2022, Boston Metal announced it had welcomed two members to its senior leadership team as part of the company’s preparation for the commercialization of its revolutionary metals production technology. The new roles will enhance the company’s corporate and financial depth and are part of a rapidly expanding team that saw Stephan Broek named Senior Vice President of Technology in late 2021.
Fernanda Fenga joins Boston Metal as Senior Vice President of Corporate, bringing over 20 years of executive experience in compliance, investor relations, government relations, and risk management in the metals and mining industry. Ms. Fenga is a member of the Board of Directors at NioCorp Development Ltd and just prior to joining Boston Metal, she provided legal counsel services to a range of global enterprises.
Daniel Kuzmak fills an advisory role at the company, with a focus on financial operations. Mr. Kuzmak comes to Boston Metal with more than four decades of corporate experience and has held senior roles in finance and operations at large public companies and privately held ventures.
Ms. Fenga will oversee human resources, financial operations, risk management, and legal affairs and Mr. Kuzmak will strengthen the finance department as the company continues to scaleup operations and prepare for the commercialization of its ground-breaking process to decarbonize the production of steel and other metals.
“We are delighted to have Fernanda and Dan join the senior team at Boston Metal and are confident that their experience and expertise will serve us well as we move on to the next phase of industrial demonstration and the commercialization of our technology. They will be instrumental in managing the rapid growth we expect in the lead up to and following commercialization,” commented Tadeu Carneiro, Chairman & CEO of Boston Metal.
Boston Metal’s technology combines patented innovations with best practices from the aluminum and steel industries to deliver a breakthrough solution to the carbon emissions challenge facing the steel value chain. Powered by renewable electricity, molten oxide electrolysis converts iron ore into liquid metal and oxygen. The modular, scalable platform produces no carbon emissions, is highly energy efficient, and works with a wide range of iron ore grades. Besides steel, the novel technology can also be used to manufacture other metal products.
In 2021, the company closed an over-subscribed Series B funding round that saw intense interest from iron ore miners to steel end users, in addition to garnering reinvestments from all Series A participants, including Gates-backed Breakthrough Energy Ventures.