Manik Mehta writes: David Paratore, President/CEO of Providence, Rhode Island-based NanoSteel Co., an advanced materials company specialising in designing and commercialisation of patented steel, argues that the impact of lightweight steel, while retaining its key property of affordability, would help steel remain the material of choice among automotive manufacturers, especially if consumers become more informed about the materials that make up the cars they drive.
Speaking at the recent Steel Success Strategies XXX1 conference in New York, Paratore said, “The cheapest solution, in this case the cheapest material that solves their problem, is what car companies are going to use. That’s why steel has been used for so long,” observed Paratore,
NanoSteel, which focuses on proprietary alloys for use as sheet steel in automotive light-weighting applications, partnered with West Chester, Ohio-based AK Steel Corp. earlier this year and recently provided a sample of the material to Detroit-based General Motors Company for testing. The material, according to its promoters, is as affordable as current offerings of advanced high-strength steels to automotive companies, which are scrambling to comply with US regulations to reduce carbon emissions, which can be achieved by using lightweight metal.
Manik Mehta is Steel Times International's North American correspondent