Developers of a new class of steel alloys that are stronger, longer lasting & more energy efficient to manufacturer.
PROVIDENCE, RHODE ISLAND
Problem they are Solving?
The excessive energy required to manufacture and transport current steels, and the brittle nature of high-strength alternatives like titanium.
Nanotechnology-based and environmentally-friendly steel alloys that are 2-4 times stronger than conventional steels, have a strength-to-weight ratio of titanium and aluminum, and require less energy and material to make.
Chrysalix take from Portfolio Manager, Richard MacKellar
The NanoSteel Company has created a proprietary portfolio of nanotechnology based steel alloy solutions.
1. What is the insight that led to Chrysalix investing?
NanoSteel has the potential to change the steel industry in a way not seen since Sir. Harold Brierley invented stainless steel nearly 100 years ago. The NanoSteel materials are 2-4 times stronger than conventional steels while maintaining high toughness, ductility and corrosion resistance, properties previously thought to be mutually exclusive. These materials have a strength to weight ratio that can compete with titanium and aluminum, at a cost that will be a fraction of these more exotic materials.
The new alloys will be applicable to almost every application that uses steel, aluminum and titanium today. By having an understanding of metallurgy, the businesses impacted by the new materials and the possible business models that a small company might take in this field, Chrysalix was able to see a bright future for this company.
2. What is the company’s biggest strength?
The technology was invented at the Idaho National Labs by Dr. Daniel Branagan. The team of technical experts assembled by the company have clearly distinguished themselves from the competition and created a significant lead in patenting in this area. The technical team has been complimented by the business leadership of Dave Paratore and his high focus on quality and customer service.
3. What is the implication of this company being successful?
When NanoSteel reaches its full potential the steel industry will consumer 40-50% less power for the same function performed by the steel by being able to adopt steels that half the weight for the same performance. It will benefit the automotive, rail, shipping and aircraft industries, change the cost structure of solar industry, and provide us with products that we can not imagine today.