Vale Ventures, the corporate venture capital arm of Vale, has invested in Electrified Thermal Solutions (ETS), a Boston-based startup pioneering technology to heat industrial furnaces without fossil fuels. This investment, part of ETS’s $19 million funding round, aims to support the development of a breakthrough solution for reducing greenhouse gas (GHG) emissions in hard-to-abate industries like mining and steel production.
ETS has developed an innovative electrically conductive firebrick capable of generating heat at temperatures up to 1,800°C using zero-carbon electricity. The technology not only eliminates carbon emissions from industrial heat processes—responsible for 20% of global greenhouse gas emissions—but also reduces costs by utilising low-cost renewable energy. ETS plans to open its first commercial-scale pilot demonstration plant in 2025.
“Investing in startups with solutions that promote the decarbonisation of the mining value chain is one of our key missions. ETS’s solution has the potential to contribute to the decarbonisation of our Scope 1 emissions, as well as Scope 3 emissions across our value chain, by generating high-temperature heat for industrial processes through electricity instead of fossil fuels,” said Bruno Arcadier, head of Vale Ventures.
The technology is particularly critical for industries that rely on fossil fuels like coal and natural gas for high-temperature processes. As a thermal energy storage solution, ETS’s firebrick offers a sustainable and cost-effective alternative, enabling significant emissions reductions.
Vale Ventures’ investment is part of its broader $100 million commitment to accelerating disruptive innovations in the mining and metals value chain. This marks the fourth investment announced by Vale Ventures since its launch in 2022, further demonstrating its commitment to sustainable industrial practices. Founded in 2020 at the Massachusetts Institute of Technology (MIT), ETS is at the forefront of transforming industrial heating technologies and advancing global decarbonisation efforts.
