Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

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

Freeze-dried foam soaks up carbon dioxide: Rice University scientists lead effort to make novel 3-D material August 16th, 2017

Gold shines through properties of nano biosensors: Researchers discover that fluorescence in ligand-protected gold nanoclusters is an intrinsic property of the gold particles themselves August 16th, 2017

Two Scientists Receive Grants to Develop New Materials: Chad Mirkin and Monica Olvera de la Cruz recognized by Sherman Fairchild Foundation August 16th, 2017

Scientists from the University of Manchester and Diamond Light Source work with Deben to develop and test a new compression stage to study irradiated graphite at elevated temperatures August 15th, 2017

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

180 Degree Capital Corp. Appoints Investment Banking Veteran Parker Weil to Its Board of Directors August 2nd, 2017

Forge Nano 2017: 1st Quarter Media Update April 20th, 2017

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Caught on camera -- chemical reactions 'filmed' at the single-molecule level March 22nd, 2017

Materials/Metamaterials

Two Scientists Receive Grants to Develop New Materials: Chad Mirkin and Monica Olvera de la Cruz recognized by Sherman Fairchild Foundation August 16th, 2017

Fewer defects from a 2-D approach August 15th, 2017

2-faced 2-D material is a first at Rice: Rice University materials scientists create flat sandwich of sulfur, molybdenum and selenium August 14th, 2017

Engineers pioneer platinum shell formation process – and achieve first-ever observation August 11th, 2017

Announcements

Freeze-dried foam soaks up carbon dioxide: Rice University scientists lead effort to make novel 3-D material August 16th, 2017

Gold shines through properties of nano biosensors: Researchers discover that fluorescence in ligand-protected gold nanoclusters is an intrinsic property of the gold particles themselves August 16th, 2017

Two Scientists Receive Grants to Develop New Materials: Chad Mirkin and Monica Olvera de la Cruz recognized by Sherman Fairchild Foundation August 16th, 2017

Scientists from the University of Manchester and Diamond Light Source work with Deben to develop and test a new compression stage to study irradiated graphite at elevated temperatures August 15th, 2017

Automotive/Transportation

2-faced 2-D material is a first at Rice: Rice University materials scientists create flat sandwich of sulfur, molybdenum and selenium August 14th, 2017

Engineers pioneer platinum shell formation process – and achieve first-ever observation August 11th, 2017

GLOBALFOUNDRIES, Silicon Mobility Deliver the Industry’s First Automotive FPCU to Boost Performance for Hybrid and Electric Vehicles: Silicon Mobility and GF’s 55nm LPx -enabled platform, with SST’s highly-reliable SuperFlash® memory technology, boosts automotive performance, ene August 3rd, 2017

Rice U. scientists map ways forward for lithium-ion batteries for extreme environments: Paper details developments toward high-temperature batteries July 27th, 2017

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