This follow’s NanoSteel’s development of a new nano-structured advanced high-strength steel (AHSS) with strength and ductility for automotive structural parts. NanoSteel’s new AHSS can give automakers the ability to use thinner gauges of stronger steel to reduce vehicle weight. This weight reduction, in turn, improves fuel economy.

New US Corporate Average Fuel Economy (CAFE) regulations require improved fuel efficiency in future automobile designs. These standards increase the average miles per gallon (MPG) required across all light vehicle models from the current 29.7 MPG for model year 2013 to 48.7 in 2025.

“This recognition is an honour and acknowledges the light-weighting opportunities that our new class of nano-structured advanced high-strength steel will provide to the automotive industry,” said David Paratore, NanoSteel's president and CEO.