Seattle Startup Attracts Giants of Oil and Gas

After more than 10 years of rigorous testing and development, a Seattle-based startup has won support from scores of oil and gas industry giants with a 'game changing' metal that boasts higher performance, increased durability and a cheaper price point than steel.

The unique metal was developed by Modumetal, a forward-thinking company based in Washington. Working from a 30,00 square-foot production facility, the company developed a revolutionary nano-laminated alloy that's manufactured from a new generation of materials. It's both stronger and lighter than steel, more durable than chrome and boasts exceptional anti-corrosion properties. Modumetal claims the product will redefines metals performance across a host of industries, including automotive, energy, infrastructure, aerospace, military and more.

“We’re improving performance but also telling our customers that we can be the lowest cost option at the same time,” says Modumetal CEO and co-founder Christina Lomasney. “This is a game changer.”

Using electricity to cool down production process

The patented manufacturing process relies on electricity, rather than traditional heat-based energy. This means the factory can operate at close to room temperature, which allows for the configuration of raw materials in a durable layered pattern, similar to metallic plywood. In an investment round led by Vulcan Capital, Modumetal drummed up a US$14 million outlay to fast-track production of the nano-laminated alloy, which is currently being used by energy giants like BP, Chevron, Exxon-Mobil, Noble Energy and ADNOC.

“Modumetal is focused on meeting the immediate demand for its products in the oil and gas industry and we also see compelling opportunities for the technology in other major sectors such as construction, infrastructure and transportation,” reads a statement issued by Vulcan Capital.

Modumetal sets sights on global presence

The company currently manufactures ultra-durable fasteners and connectors for high pressure systems, though with the new US$14 million investment Lomasney hopes to branch out into other sectors. There are also plans to license the patented manufacturing process with global partners and expand its company's international presence.

“The ability to build things that have much higher performance, strength, and corrosion resistance means infrastructure that can be lighter weight and doesn’t degrade as quickly,” says Lomasney. “We’re really excited to be at that stage where we’ve demonstrated with our customers a significant return on investment."

Next-generation technology plays a key role in driving developments in the oil and gas industry. For a closer look at the latest strategies companies are employing to heighten productivity and elevate profits don't miss 'Density: a core parameter at key points.'