The partnership between government and the private industry is part of
The work to build the
But it's good news for the company, she said.
NanoSteel designs high-strength steel that weighs less than traditional steel and can be used to create lighter automotive parts -- without compromising safety or quality, Bossert explains. That process -- called "lightweighting" -- means the industry can build lighter vehicles. Bossert says it's a very powerful way to improve fuel economy.
"We're very excited to see that the government has focused on lightweighting as a key manufacturing area of focus," Bossert said. "And the fact that we're a founding member of the winning team that's
Bossert said it's too soon to say whether the grant means a certain amount of federal money will flow to NanoSteel. Potentially, she said, this partnership could allow the company to hire more people. NanoSteel now employs 40 people, about half in
NanoSteel, whose corporate headquarters is at
The private company derives revenue from its earliest products, including metallic coating, but Bossert said it does not disclose revenue figures. Its lightweighting work is where the company sees the most opportunity for growth, she said. Additionally, the company's powdered-steel component is expected to be a strong revenue generator, she said.
Although much of the steel business is moving toward "hot-form steels," what's unique about NanoSteel, Bossert says, is that its steel can be formed at room temperature, what's known as "cold-form."
"That's our advantage," she says.
NanoSteel is actually a design company that partners with two manufacturers to produce the types of steel it designs, Bossert says. Non-disclosure agreements prevent her from naming the one domestic and one international supplier that does that work, she said.
If NanoSteel needs to expand to meet the needs of the grant-winning consortium, Bossert said new jobs would likely be equally distributed at its current locations, including
"We have no plans to leave
The consortium that won the grant is headquartered in the
In announcing the grant recipients, the
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