Alliance of Angels Names Modumetal 2010 Company of the Year
SEATTLE, WA – May 17, 2010 — Alliance of Angels (AoA) announced Modumetal as the recipient of its 2010 Company of the Year Award. The award was presented to company co-founder Christina Lomasney during the Technology Alliance’s State of Technology Luncheon in downtown Seattle.
"On behalf of all of the Modumetal team, we are humbled and honored to receive this recognition from our partners at the Alliance of Angels," said Christina Lomasney, co-founder and CEO of Modumetal. "The support that the Alliance has afforded Modumetal is an important foundation in the enterprise that we are building. We are grateful for this award, and even more to the individual members of the Alliance for engaging with us and for putting the force of their collective passion, genius and resources behind Modumetal's vision to revolutionize the design and performance of advanced materials."
Modumetal of Seattle, WA, founded in 2007, is realizing the commercial potential of a unique class of nano-laminated materials. The company is creating materials that will change design and manufacturing of metals by redefining structural, corrosion, and high temperature performance. Modumetal is made by a “green” electrochemical manufacturing approach, which reduces the carbon footprint of conventional metals manufacturing at the same time that it revolutionizes materials performance.
The Modumetal by Design™ process uses electricity instead of heat to grow metal from the ground up, in nano-scale layers. Modumetal, a revolutionary nano-laminated alloy system, is stronger and lighter than steel, can run longer and hotter than nickel-alloys, is more corrosion resistant, and costs less than stainless.
“In more than 25 years of investing in and starting companies, it is rare to see an idea that can create and industry and change the world. Modumetal is such a company,” said AoA Chair Dan Rosen, president and CEO of Dan Rosen & Associates, who also serves on Modumetal’s board. “Christina has inspired AoA and other local angels with her vision to invest more than $4.9 million, inspired her employees to achieve great things, and inspired large customers, such as the recently announced agreement with Steel Dynamics, to bet on this early-stage startup.”
“Modumetal is a great example of why we angels do what we do – investing in innovative startups and helping them change the world.”
The company was selected by AoA leadership to receive this recognition based on its entrepreneurial spirit, traction with investors, progress toward business plan goals, and positive impact on the economy.