NanoSteel Announces GM Ventures Investment
August 8, 2012
The NanoSteel® Company, a leader in nano-structured steel materials design, announced that General Motors Ventures LLC 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. 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 that may cost more, require new investment in parts production and have performance limitations.