Accomplished Automotive Executive Bob Lutz to Join NanoSteel's Board of Directors

Election Brings Exceptional Leadership, Design and Performance Engineering Experience to NanoSteel's Automotive Steel Product Development

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| Source: The NanoSteel Company

PROVIDENCE, R.I., Oct. 10, 2012 (GLOBE NEWSWIRE) -- The NanoSteel® Company, a leader in nano-structured steel materials design, today announced the appointment of global automotive industry visionary Bob Lutz to the company's Board of Directors.

"I have been deeply impressed with NanoSteel's progress in sheet steel materials design," said Lutz. "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. Additionally," Lutz continues, "the use of NanoSteel's breakthrough AHSS could drive efficiencies across the supply chain by leveraging existing steel infrastructure and parts production."

Bob Lutz has carved out an iconic career for nearly 50 years as a top executive in the global auto industry. Most recently, Lutz was vice chairman of Global Product Development at the General Motors Corporation. There he significantly reinvigorated GM's global product development, including the company's entry into electric vehicles via the Chevrolet Volt. Prior to GM, Lutz was president of the Chrysler Corporation, where his product capability and management acumen led a company turnaround in the 1990's. Lutz also held executive positions at the Ford Motor Company and BMW.

"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. Bob's leadership in auto innovation is unparalleled and there is not a more proven leader today to help us propel our growth in automotive and hone our strategy moving forward."

Lutz, a former fighter pilot with the US Marine Corps, is currently an executive consultant, industry analyst, media spokesperson and author of two bestselling books, "Car Guys & Bean Counters" and "Guts: 8 Laws of Business from One of the Most Innovative Business Leaders of Our Time."

About NanoSteel

NanoSteel is the world leader in proprietary nano-structured steel material designs. Over its ten-year history, NanoSteel has created progressive generations of iron-based alloys from surface coatings to monolithic steel. For the oil & gas, mining and power industries, NanoSteel has successfully introduced commercial applications of metallic coatings to prolong service lifetime in the most extreme industrial environments. For the automotive industry, NanoSteel has achieved a significant breakthrough in the development of nano-structured sheet steel with exceptional strength and ductility. NanoSteel is a privately held company funded by lead shareholders EnerTech and Fairhaven Capital. For more information, visit www.nanosteelco.com or follow us on Twitter @NanoSteelCo.

Greg Nixon, Marketing & Communications Manager

Phone (407) 616-5167, gnixon@NanoSteelco.com, www.NanoSteelco.com

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