Company Announcements
February 25, 2026
Boston Metal laying off 71 workers at Massachusetts location
Written by Ethan Bernard
Green steelmaker Boston Metal has announced layoffs in Massachusetts as a result of an equipment failure at a manufacturing facility in Brazil.
The company is laying off 71 workers at its Woburn, Mass., location, effective March 14, according to a Massachusetts WARN notice.
A Boston Metal spokesperson told SMU that on Jan. 30, the company experienced an “unforeseen critical equipment failure” at its manufacturing facility in Brazil.
While there were no injuries or environmental impact, “the equipment damage prevented us from meeting a key operational milestone tied to a pending financing transaction.”
This caused a loss of access to “committed capital” that was essential to supporting their operations in both Brazil and the US.
“The unanticipated loss of financing required immediate action to preserve cash and ensure the continuity of the broader business,” the spokesperson said. “We continue to believe in Boston Metal’s technology and market opportunity, but the current situation requires a sharpened focus and significantly lower burn rate to succeed.”
The spokesperson stated that in the coming months, Boston Metal’s priority will be restoring operations in Brazil and “scaling the critical metals business in Brazil, the US, and internationally.”
“We recognize the profound impact this has on our colleagues, and this decision was not made lightly,” the spokesperson said.
Background
Boston Metal, founded in 2013, has locations in both Massachusetts and Brazil and has raised hundreds of millions of dollars in funding.
The company thinks its molten oxide electrolysis (MOE) process, which uses electricity to produce a variety of metals and alloys from a wide range of feedstocks, will help the steel industry to decarbonize.
