Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > NanoSteel Announces GM Ventures Investment

Abstract:
• Breakthrough design for automotive advanced high-strength steel

• Performance capabilities could be ‘game changer' for $100+ billion automotive steel market

NanoSteel Announces GM Ventures Investment

Providence, RI | Posted on August 10th, 2012

The NanoSteel® Company, a leader in nano-structured steel materials design, today announced that General Motors Ventures LLC has invested in the company.

GM Ventures, a General Motors subsidiary created to invest in promising automotive technologies, joined lead shareholders EnerTech Capital and Fairhaven Capital Partners and five existing investors to complete the Series C financing round. Terms of the GM Ventures investment were not disclosed.

"We are investing in NanoSteel because of the opportunity associated with their new steel alloy technology," said Jon Lauckner, GM's chief technology officer, vice president of Global R&D and president of GM Ventures LLC. "Over the next several years, light-weighting of vehicles will be a major focus area to improve fuel economy. NanoSteel's nano-structured alloys offer unique material characteristics that are not available today, making them a potential game-changer."

Through the development of patented alloys, NanoSteel has created a new class of steel that allows automotive engineers and designers to reduce weight through the use of thinner, higher strength gauges while maintaining the structural integrity needed for safety. NanoSteel's new steel design is an alternative to other light-weighting materials which may cost more, require new investment in parts production and have performance limitations.

"GM Ventures investment in NanoSteel demonstrates its confidence in our company's potential to achieve widespread impact on the auto industry through our proprietary steel designs," said Dave Paratore, president and CEO of NanoSteel. "With the support of General Motors' automotive expertise and technology leadership, we can accelerate the final phases of development of our nano-structured AHSS in the quest to economically lightweight vehicles."

Reducing vehicle weight is critical to automakers in achieving higher fuel efficiencies and meeting rigorous new U.S. Corporate Average Fuel Economy standards.

####

About NanoSteel
NanoSteel is the world leader in proprietary nano-structured steel material designs. Over its ten-year history, NanoSteel has created progressive generations of iron-based alloys from surface coatings to monolithic sheet. For the oil & gas, mining and power industries, NanoSteel has successfully introduced commercial applications of metallic coatings to prolong service lifetime in the most extreme industrial environments. For the automotive industry, NanoSteel has achieved a significant breakthrough in the development of nano-structured sheet steel with unparalleled strength and ductility. NanoSteel is a privately held company funded by lead shareholders EnerTech and Fairhaven Capital. For more information, visit www.nanosteelco.com or follow us on Twitter @NanoSteelCo.

About General Motors Ventures

General Motors Ventures, LLC, is a subsidiary designed to help the company identify and develop innovative technologies in the automotive/transportation sector. General Motors Ventures has been funded with an initial investment of $100 million, and is currently exploring equity investments in a number of auto-related technologies and business models. More information can be found at www.gmventures.com.

For more information, please click here

Contacts:
Corporate Headquarters
272 West Exchange Street, Suite 300
Providence, Rhode Island 02903
phone: 401.270.3549
fax: 401.270.9306

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Shaping the Future of Nanocrystals: Berkeley Lab Researchers Obtain First Direct Observation of Facet Formation in Nanocubes August 21st, 2014

Hiden Release New Gas Analysis Catalogue August 21st, 2014

Wyatt Technology’s 24th International Light Scattering Colloquium to Highlight Developments in Applications and Characterization of Nanoparticles August 21st, 2014

Water window imaging opportunity: A new theoretical study elucidates mechanisms that could help in producing coherent radiations, ultimately promoting high-contrast imaging of biological samples August 21st, 2014

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

SouthWest NanoTechnologies Inc. Announces $2.7 Million in New Financing to Fund Growth, Plant Expansion and Technical Personnel August 11th, 2014

Harris & Harris Group Reports Financial Statements as of June 30, 2014 August 10th, 2014

Materials/Metamaterials

Shaping the Future of Nanocrystals: Berkeley Lab Researchers Obtain First Direct Observation of Facet Formation in Nanocubes August 21st, 2014

Rice physicist emerges as leader in quantum materials research: Nevidomskyy wins both NSF CAREER Award and Cottrell Scholar Award August 20th, 2014

Promising Ferroelectric Materials Suffer From Unexpected Electric Polarizations: Brookhaven Lab scientists find surprising locked charge polarizations that impede performance in next-gen materials that could otherwise revolutionize data-driven devices August 18th, 2014

Nano Bonds Increase Raw Strength of Fireproof Concretes August 18th, 2014

Announcements

Wyatt Technology’s 24th International Light Scattering Colloquium to Highlight Developments in Applications and Characterization of Nanoparticles August 21st, 2014

Ultra-short pulse lasers & Positioning August 21st, 2014

Malvern’s Dr Alan Rawle talks TLAs in plenary lecture at Particulate Systems Analysis conference August 21st, 2014

Water window imaging opportunity: A new theoretical study elucidates mechanisms that could help in producing coherent radiations, ultimately promoting high-contrast imaging of biological samples August 21st, 2014

Automotive/Transportation

New Method Provides Nanoscale Details of Electrochemical Reactions in Electric Vehicle Battery Materials August 4th, 2014

A protecting umbrella against oxygen: Toward fuel cells built from renewable and abundant components - Scientists from Bochum und Mülheim report in NATURE Chemistry August 4th, 2014

Stanford researchers seek 'Holy Grail' in battery design: Pure lithium anode closer to reality with development of protective layer of interconnected carbon domes August 1st, 2014

Stanford team achieves 'holy grail' of battery design: A stable lithium anode - Engineers use carbon nanospheres to protect lithium from the reactive and expansive problems that have restricted its use as an anode July 27th, 2014

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE