NanoSteel Company granted an exclusive global license for its steel coatings technology to Lincoln Electric for use in weld overlay and thermal spray applications. Lincoln Electric said the addition of the wear-resistant materials would complement its portfolio of arc welding, cutting, and automation technologies.

“We are pleased to add NanoSteel’s breakthrough technology to our product portfolio,” according to Tom Matthews, SVP of technology and R&D for Lincoln Electric. “These unique products provide a level of hardness and abrasion-resistance that is superior to chrome carbides and more economical than tungsten carbides. NanoSteel’s proprietary technology enables customers to significantly extend the service life of equipment used in mining, oil and gas, power generation and other industries.”

NanoSteel develops “nano-structured” steel alloys used for surface coatings, foils, powder metals, and in sheet metal products.  Its products have particularly important applications in some of the industries that are most important to Lincoln Electric. For example, for oil-and-gas exploration and refining, mining, and electric power industries, NanoSteel has introduced metallic coatings that prolong service life in extreme industrial conditions.

For the automotive industry, NanoSteel developed nano-structured sheet steel. General Motors Ventures LLC took an equity position in the company on the premise of its sheet steel technology, indicating it offered promise of lightweight vehicle designs.

NanoSteel’s advanced high strength steel (AHSS) alloy allows automakers to select structural alloys in thinner gauges. Also, the material’s high ductility means it can be cold-formed using conventional steel processing technologies, without heat treating, saving time, cost, and energy in forming automotive parts.

NanoSteel is a private company with ownership led by two equity funds EnerTech and Fairhaven Capital.

“We are proud to be aligned with a company of Lincoln’s worldwide reach, technology innovation, and influence” said David Paratore, NanoSteel president and CEO. “This agreement reinforces our business focus of licensing our technology to the world’s leading brands to offer global availability of our alloy designs.”