NanoSteel has received a US$10 million venture loan facility from Horizon Technology Finance to support the continued development and commercialization of its portfolio of patented steel alloys.

‘We welcome the financial partnership of Horizon, an experienced venture lender with a strong balance sheet and long track record of supporting dynamic growth-oriented companies, such as ours,’ said David Paratore, president and CEO of NanoSteel. ‘Horizon’s $10 million venture loan facility provides us with growth capital to achieve near-term commercial scale and product qualification milestones.’

NanoSteel focuses primarily on proprietary alloys for use as sheet steel in automotive lightweighting applications and metal powder for 3D printing of industrial parts. 

This story is reprinted from material from Horizon Technology Finance, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.