|GM Ventures invests in NanoSteel Company's new AHSS|
|News - Collision Repair|
|Wednesday, 08 August 2012 14:03|
By Mike Davey
Providence, Rhode Island -- August 8, 2012 -- GM Ventures has announced an investment in the NanoSteel Company, a company specializing in nanostructured steel materials design.
Nanostructures are objects bigger than molecular-sized structures, but smaller than microscopic structures. In general, a nanostructure is a group of atoms or molecules in a space with a diameter of less than 50 nanometres. A nanometre is equal to one billionth of a metre. Steel made with attention placed on the nano scale is a form of Advanced High Strength Steel.
While there is no official word yet on the repairability of NanoSteel's upcoming offering, there is reason to believe that repair techniques will not differ significantly from those already in use for other types of AHSS.
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 standards.
You can see NanoSteel’s David Paratore, President and CEO, and Daniel Branagan, Ph.D., Chief Technical Officer, discuss how the company’s breakthrough nanostructured sheet steel will have a significant impact in the automotive industry in the video below.
|Last Updated on Friday, 10 August 2012 12:17|
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