NanoSteel Announces Founding Membership in New American Lightweight Materials Manufacturing Innovation Institute (ALMMII)
February 26, 2014 - Providence, RI
PROVIDENCE, RI--(Marketwired - February 26, 2014) - The NanoSteel® Company, a leader in nano-structured steel materials design, today announced that it is a founding member of the newly formed American Lightweight Materials Manufacturing Innovation Institute (ALMMII). The ALMMII, one of four National Networks of Manufacturing Innovation institutes introduced at a White House briefing yesterday, has been established to increase U.S. manufacturing leadership in the rapid commercialization of critical new lightweighting technologies. As a public-private partnership led by the Edison Welding Institute (EWI), University of Michigan and The Ohio State University, the ALMMII will focus on the integrated design and manufacturing of lightweight components and structures for transportation.
NanoSteel will join other industry leading companies to work in collaboration with public universities, government labs and industry associations. The institute will deliver manufacturing technologies that enable cost effective lightweighting components to improve fuel efficiency, enhance performance and strengthen global competitiveness in the U.S. automotive, aerospace, energy and defense sectors.
"We are proud to contribute our materials expertise to this team," said David Paratore, NanoSteel's president and CEO. "NanoSteel applauds the U.S. government's initiative to form the ALMMII and we appreciate the opportunity to help accelerate the development and implementation of vehicle lightweighting solutions across many applications."
Lawrence Brown, executive director of the ALMMII, added, "We are extremely pleased to have NanoSteel as a partner on our team of distinguished and accomplished companies. NanoSteel brings a wealth of capabilitities in the design and development of new advanced high strength steels to the institute that will complement the strengths of other team members."
The long-term goal of the ALMMII is to scale-up the country's modern metal capabililities while creating up to 10,000 new jobs in metal stamping, metalworking, machining and casting.
NanoSteel is the world leader in proprietary nano-structured steel material designs. Over its eleven-year history, NanoSteel has created progressive generations of iron-based alloys from surface coatings to foils to powder metals and sheet steel. 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 exceptional 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.