Bob Lutz has joined the board of a company that is developing a new nano-structured steel.
He may be approaching his eighties, but former General Motors Vice Chairman Bob Lutz is showing no sign of slowing down.
Among an assortment of board seats and other assignments that give lie to the idea of “post-retirement,” the former Marine pilot has joined the board of a small start-up firm that has created a new alloy that some believe could revolutionize the steel industry.
Lutz, renowned for his efforts to overhaul GM’s hidebound product development process, said NanoSteel Co.’s technology could replace other high-strength steel. The Rhode Island hopes to license its unique nano-structured steel to steelmakers for use in the auto industry.
In August, GM’s new venture capital investing arm took a stake in the privately owned steel technology company.
Lutz said he is impressed with NanoSteel’s approach to creating the new material.
“The company’s innovative approach has the potential to offer the most natural progression for automakers to stick with their most trusted material — steel — and at the same time enjoy exceptional properties that support the design of next generation fuel-efficient vehicles.
He added that the company’s process would be easy to implement because it can use the industry’s existing steel infrastructure.
While Lutz has expressed skepticism about the necessity for big increases in fuel efficiency, he has nonetheless been a champion of fuel-savings technology. At GM, he championed the Chevrolet Volt extended-range electric car. He is also sits on the board of Via Motors, which is producing extended-range electric trucks.
“The appointment of Bob to our Board of Directors is extraordinarily positive for NanoSteel,” said David Paratore, the company’s president and CEO. “Bob’s commitment to the company is a testament to the unique opportunity that our nano-structured sheet steel solutions will bring to the automotive industry.”