Brazilian miner Vale invests in US startup as part of decarbonization push

Vale Ventures, the corporate venture capital initiative of Brazilian miner Vale, said on Thursday it has invested in a Boston-based startup focused on developing solutions to decarbonize heat generation. The firm, Electrified Thermal Solutions, owns technology for heating industrial furnaces through electricity, without the use of fossil fuels, the mining giant said. The technology has strong potential for reducing greenhouse gas emissions in industrial processes in hard-to-abate sectors, such as the mining and steel industries, according to the mining firm.