Report: GM Ventures invests in new lightweight NanoSteel

Filed under: Plants/Manufacturing, Technology, GM

Cutting pounds while making cars safer and stronger is a pursuit of all auto companies. Creative uses of aluminum alloys and exotic materials like carbon fiber help reduce weight and increase fuel economy and/or performance.

But both aluminum and carbon fiber are expensive. Steel has been around for centuries, and technological advancements have made it stronger, cheaper and lighter. But, argues David Paratore, president and CEO of NanoSteel, current steel technology is pushing the limits of what it can do. Harder steel is difficult to form into automotive parts. But easier-to-form steel is, by nature, less rigid.

Paratore's company has developed a new steel they claim is stronger yet easier to form than conventional automotive steel. The new alloy can be made using conventional steel processes and no new welding techniques or machines are needed. On top of all that, NanoSteel claims big weight-saving advantages. "We're not talking about saving grams. We're talking about saving kilograms," Paratore says in the video below. "Maybe hundreds of pounds in a car."

Its enough of a breakthrough that it has gotten the attention and investment of General Motors and its investment subsidiary, GM Ventures. "We are investing in NanoSteel because of the opportunity associated with their new steel alloy technology," says 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."

Terms of the investment (including monetary amounts and exclusivity rights) were not disclosed. For a quick synopsis of what NanoSteel's product is and does, watch the video below. The official press release from GM and NanoSteel is also below.

Continue reading GM Ventures invests in new lightweight NanoSteel

GM Ventures invests in new lightweight NanoSteel originally appeared on Autoblog on Tue, 07 Aug 2012 18:05:00 EST. Please see our terms for use of feeds.

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Source: http://www.autoblog.com/2012/08/07/gm-ventures-invests-in-new-lightweight-nanosteel/

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