GM Invests in Nano-Structured Steelmaker

General Motors Ventures LLC has taken an unspecified stake in NanoSteel Co., a 10-year-old developer of high-strength nano-structured sheet steel based in Providence, R.l.

Privately held NanoSteel is developing a new class of cold-formable sheet steel that combines high strength with high ductility. The company says its material could allow thinner, stronger and significantly lighter components, thus helping carmakers reduce vehicle weight and improve fuel economy.

NanoSteel touts its technology as a less expensive alternative to such lightweight materials as aluminum and carbon-fiber-reinforced plastic. The company says the investment by GM's venture capital unit will help it accelerate the final development phase of its steel.