Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


DHgate

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

Atomic Force Microscopes from Asylum Research Guide the Development of Thin Film Deposition and Etch Processes September 2nd, 2015

For 2-D boron, it's all about that base: Rice University theorists show flat boron form would depend on metal substrates September 2nd, 2015

Silk bio-ink could help advance tissue engineering with 3-D printers September 2nd, 2015

Phagraphene, a 'relative' of graphene, discovered September 2nd, 2015

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

Nanostart AG: First-half figures 2015 published and new supervisory board elected : Publication of first-half figures 2015 - Shareholders' meeting elected new supervisory board August 22nd, 2015

Harris & Harris Group Portfolio Company, AgBiome, Secures $34.5 Million Series B Financing Led By Bill and Melinda Gates Foundation August 20th, 2015

Harris & Harris Group Reports Financial Statements as of June 30, 2015, and Announces a Stock Repurchase Program August 10th, 2015

Harris & Harris Group Portfolio Company, HZO, Announces Partnerships with Dell and Motorola August 1st, 2015

Materials/Metamaterials

Sustainable nanotechnology center September 1st, 2015

Using ultrathin sheets to discover new class of wrapped shapes: UMass Amherst materials researchers describe a new regime of wrapped shapes August 31st, 2015

An engineered surface unsticks sticky water droplets August 31st, 2015

New material science research may advance tech tools August 31st, 2015

Announcements

For 2-D boron, it's all about that base: Rice University theorists show flat boron form would depend on metal substrates September 2nd, 2015

Silk bio-ink could help advance tissue engineering with 3-D printers September 2nd, 2015

Phagraphene, a 'relative' of graphene, discovered September 2nd, 2015

A marine creature's magic trick explained: Crystal structures on the sea sapphire's back appear differently depending on the angle of reflection September 2nd, 2015

Automotive/Transportation

CWRU researchers efficiently charge a lithium-ion battery with solar cell: Coupling with perovskite solar cell holds potential for cleaner cars and more August 27th, 2015

Lehigh University-DuPont tribology research seeks to reduce wear and waste August 13th, 2015

Flexible dielectric polymer can stand the heat August 6th, 2015

Sol-gel capacitor dielectric offers record-high energy storage July 30th, 2015

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







Car Brands
Buy website traffic