NanoSteel to Open Metro Detroit Office Focusing on Automotive Business

NanoSteel, the Providence, RI-based nano-materials company, announced yesterday that it will open an office in metro Detroit. It has named Craig Parsons, a former Gestamp executive with more than 20 years experience working in the automobile supply chain and manufacturing, to lead the operation.

The metro Detroit office will focus on NanoSteel’s automotive initiatives as it pushes its lightweight steel alloy technology to industry manufacturers. In August, GM Ventures, the Detroit-based venture fund run by General Motors, led NanoSteel’s $12 million Series C round, calling its advanced high-strength steel “extremely promising.”

NanoSteel’s CEO, David Paratore, said in a press release that the new Detroit office and Parsons’s hiring represents a “significant milestone” that is integral to the company’s growth strategy.

NanoSteel did not disclose where in metro Detroit the office will be located.

Author: Sarah Schmid Stevenson

Sarah is a former Xconomy editor. Prior to joining Xconomy in 2011, she did communications work for the Michigan Economic Development Corporation and the Michigan House of Representatives. She has also worked as a reporter and copy editor at the Missoula Independent and the Lansing State Journal. She holds a bachelor's degree in Journalism and Native American Studies from the University of Montana and proudly calls Detroit "the most fascinating city I've ever lived in."