Climate tech companies are pivoting to critical minerals

气候科技公司正转向关键矿产领域

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. 在美国，特朗普的第二个任期已经过去一年多，气候事业的支持力度十分薄弱。但气候科技公司正在寻找生存甚至在这一新环境中蓬勃发展的方法，包括将重点转向脱碳以外的潜在利益。突然之间，似乎每家气候科技公司都有关于政治热门话题的故事要讲：数据中心、能源充足性或关键矿产。

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. 在我的最新报道中，我介绍了 Boston Metal 的最新一轮融资。该公司以致力于生产低温室气体排放的钢铁而闻名，此次从新老投资者那里筹集了 7500 万美元，以支持其关键金属业务。专注于铌和钽等金属虽然不会像清洁钢铁那样带来巨大的气候效益，但却能产生公司维持运营所需的现金。随着美国联邦政府的支持有限，钢铁等艰难行业的发展愈发困难，我注意到这种策略正变得越来越普遍。

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. Boston Metal 的熔融氧化物电解技术利用电力来生产金属。我去年报道过这家初创公司，当时它宣布了其钢铁业务的一个重要里程碑：在马萨诸塞州运行其试点反应堆，并生产了整整一吨材料。现在，该公司的重心已经转移，正全力投入到其他金属的生产中，从铌和钽（用于飞机发动机和高端钢合金）到铬和钒。

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. 钢铁行业是一个艰难的行业：它规模庞大，但产品价格并不高。专注于其他金属，尤其是美国政府认为关键的金属，可能是一种维持生存的方式，甚至可能维持到足以显著减少钢铁行业排放的程度。Boston Metal 首席执行官 Tadeu Carneiro 表示：“通过进入我们可以快速发展的关键金属行业，我们能够创造资源，以继续钢铁业务的开发。”

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. 其他公司也希望关键材料能助力其商业模式。总部位于加州的 Brimstone 拥有一种制造水泥的新工艺——这是另一个难以脱碳的高污染行业。该公司使用一种新的起始材料来帮助减少二氧化碳排放。除了水泥，它还生产可添加到混凝土中的辅助胶凝材料以及冶炼级氧化铝。

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. 去年，美国能源部取消了为水泥相关项目预留的 13 亿美元资金。Brimstone 的一个奖项被取消，Sublime Systems（我多年来报道过的另一家水泥初创公司）也遭遇了同样的情况。当时，Brimstone 的一位代表告诉我，公司将此次取消视为一种“误解”，并表示该资金指定用于的设施不仅生产水泥，还生产氧化铝，这将支持美国的铝生产。如今，该公司的网站显著强调，除了水泥外，它还生产关键矿产。

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. 一些二氧化碳清除公司也希望搭上关键矿产的顺风车，旨在与采矿业合作。另一些公司则声称，他们可以帮助采矿作业更高效地运行，或为活跃及废弃的矿区提供清理服务。所有这些都是更广泛的信息传递转变的一部分。从政客到能源公司负责人，每个人谈论气候的次数都在减少。尽管我理解这种冲动，但这一趋势仍让我感到不安。

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. 我担心，如果我们对气候问题保持沉默，公司可能会迷失方向，做出无助于减排的选择。但对一些公司来说，转向不同的优先事项或推行不同的信息策略，可能有助于他们维持足够长的经营时间，从而产生影响。我们只能拭目以待，看看这一切最终会如何发展。