PROVIDENCE – The NanoSteel Co. Inc. has awarded an exclusive worldwide license to its wear-resistant steel coatings to Cleveland-based Lincoln Electric, which designs and manufactures arc-welding products, robotic welding systems, and plasma and oxy-fuel cutting equipment.
Tom Matthews, senior vice president of technology and R&D for Lincoln Electric, said NanoSteel’s iron-based alloys for weld overlay and thermal spray applications are more affordable than tungsten carbides and provide wear resistance superior to chrome carbides, serving to “significantly extend the service life of equipment used in mining, oil and gas, power generation and other industries.”
NanoSteel will continue to design and market its engineered powders and nano-structured sheet steel products outside the agreement with Lincoln Electric, the company said, while working with Lincoln Electric through the transition to ensure consistent product availability and customer support for its steel coatings.
Additional terms of the licensing agreement were not disclosed.
“We are proud to be aligned with a company of Lincoln’s worldwide reach, technology innovation and influence,” said David Paratore, president and CEO of NanoSteel. “This agreement reinforces our business focus of licensing our technology to the world’s leading brands to offer global availability of our alloy designs.”