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NanoMech Announces the Honorable Deborah Wince-Smith, President and CEO of the Council on Competitiveness, as New Board Member

 

SPRINGDALE, Ark. – NanoMech Corp. announced today that the Honorable Deborah Wince-Smith has been appointed to the company’s board of directors.

“Ms. Wince-Smith has impeccable business credentials that have been established on the international stage.  Her experience working with some of the world’s leading innovators is invaluable to NanoMech.  We are delighted she has agreed to join our board of directors,” said NanoMech President and CEO Jim Phillips.

Ms. Wince-Smith currently serves as the President and CEO of the Council on Competitiveness.  Founded in 1986, this unique coalition of business, labor and academia leaders collectively work to put forth actionable public policy solutions to make America more competitive in the global marketplace.

Under her leadership, the Council on Competitiveness has launched the U.S. Manufacturing Initiative with the stated goal being to deliver to the Administration and the Congress a realistic and comprehensive solutions roadmap—with the advice, participation, and buy-in from a wide range of stakeholders—that will energize a vibrant, diversified, and technologically advanced manufacturing value chain, resulting in American jobs, economic growth, and energy and national security.

“Ms. Wince-Smith and her team at the Council on Competitiveness work daily to find innovative solutions to some of the world’s most complex problems.  NanoMech is doing the same thing every day and we could not be happier to have a like-minded problem solver on our board, “ said Phillips.

“I am honored to join the NanoMech board of directors.  The work they are doing has the potential to revolutionize the global economy in ways some have only dreamed.  From transforming manufacturing with the most advanced cutting tool and wear part coatings, to dramatically increasing energy efficiencies and performance in machine and vehicle lubrication while preserving natural resources, NanoMech is on the cutting edge of innovation for making America more competitive,” Wince-Smith said.

She served as Assistant Secretary of Commerce for Technology Policy in the administration of President George H.W. Bush, and developed President Reagan’s Competitiveness Initiative.

Since 2009, Ms. Wince-Smith has been the president of the Global Federation of Competitiveness Councils (GFCC), whose creation she led with leaders and stakeholders from over 30 Competitiveness Councils from around the world.  The GFCC is the first global network devoted exclusively to the exchange of knowledge and practice related to competitiveness policies and strategies; and, the first global, public-private mechanism to promote global economic growth through collaboration in innovation.

Ms. Wince-Smith serves as a director of several publicly and privately held companies, leading national and international organizations, as well as U.S. government advisory committees.  As a member of the Board of NASDAQ OMX, she has served on the Audit, Compensation and Finance Committees.  Ms. Wince-Smith also serves as a Board Member of start-up technology companies specializing in hi-definition displays, consumer electronics and medical devices.  She also serves on the board of the American Telemedicine Association, Lincoln Center Institute’s Imagination Conversation. Ms. Wince-Smith is actively involved and serves on the non-profit, charitable boards of the U.S. Naval Academy Foundation and the Smithsonian National Board.

Ms. Wince-Smith developed President Reagan’s 1988 Competitiveness Initiative, and led the implementation of executive orders and new laws that transformed federal technology transfer policy for U.S. industries, national laboratories and universities.  Following her government tenure, Ms. Wince-Smith became active in governance of various national scientific laboratories and provided strategic counsel to several FORTUNE 100 companies.

Ms. Wince-Smith, a valedictorian from Old Trail School in Akron, Ohio, graduated magna cum laude from Vassar College with a Bachelor of Arts degree.  She was one of the first female students to enter King’s College at the University of Cambridge, where she read for a Master’s degree in Classical Archaeology.  In 2006, she received an Honorary Doctorate in Humanities from Michigan State University.

About NanoMech:

NanoMech Inc., (www.NanoMech.com), was founded in 2002 and creates advanced engineering materials through patent and patent-pending nano-inspired and nano-manufactured product development.  NanoMech is a pioneer in applying breakthrough nano-engineered innovations to robust areas of national interest including machining and manufacturing, lubrication and energy, and strategic military applications.  NanoMech brings ideas from innovation to implementation, commercializing nanomanufactured products at record speed in the market.  NanoMech is a member of President Obama’s Materials Genome Initiative, a public / private collaboration with the aim of doubling the speed and reducing the cost of discovering, developing, and deploying new advanced materials. NanoMech is also a member of the U.S. Manufacturing Competitiveness Initiative (USMCI) and the U.S. Technology Leadership and Strategy Initiative, (www.Compete.org) both based in Washington, DC.

For more about NanoMech: www.NanoMech.com

For more information about the Council on Competitiveness: www.compete.org

Read more at: www.istockanalyst.com/business/news/6116878/nanomech-announces-the-honorable-deborah-wince-smith-president-and-ceo-of-the-council-on-competitiveness-as-their-new-board-member

Springdale Manufacturer Wants Nano on Big Stage

From right: Dr. Ajay Malshe, Chief Technology Officer, and Jim Phillips, CEO, of NanoMech Inc. inside the new TriboTuff ® production facility. 
 

First published Oct. 29, 2012, in the Northwest Arkansas Business Journal 

By Rob Keys

 

 

Big things are happening at NanoMech Inc.

The Springdale-based nanotechnology manufacturer officially has opened a national investment round aimed at raising about $5 million, and soon will announce an expansion that includes a new, $1.3 million building adjacent to its existing facility. The Springdale Chamber of Commerce will orchestrate a groundbreaking ceremony for the new 11,000-SF building — which will feature a roughly 70-30 split of factory and corporate headquarters space — later this fall.

The building is expected to be completed within three to five months, and will alleviate overcrowding of both employees and equipment at NanoMech’s current 8,000-SF manufacturing space.

“Every inch has been taken up,” CEO Jim Phillips said during a recent tour.

Phillips also said the new facility will “be principally for the production of nGlide and TriboTuff.”

A suite of additive lubricants designed to reduce friction and enhance durability and performance, nGlide includes products such as TriboTuff and nTribo. TriboTuff is added to grease, while nTribo is an additive for motor oil that NanoMech expects to begin marketing later this year.

“It’s almost like discovering an oil field in Arkansas,” Phillips said. “This changes everything.”

“If I take the oil and I extend the life of it 10 years or 100 years, I’ve just re-invented the oil,” added Ajay Malshe, NanoMech’s founder, executive vice president and chief technology officer.

“Using the science for the good of humankind is the end game.”

Immediate Plans

Before NanoMech can ramp up its production of its nGlide platform products, however, it must wait for the construction of its new facility. In addition to the new building, a water feature will be added to give the two facilities more of a “campus” feel, Phillips said.

The company currently employs 25, but both Phillips and Malshe said that number could grow to 100 in 2013. NanoMech already has added a night shift, and is expecting increased demand for its newer products like TriboTuff and nTribo.

“Today we could walk into AutoZone, and every lubricant up there, we can improve,” Phillips said. “Every single one we can improve drastically.”

Phillips declined to give specific figures for the privately held company, but said NanoMech continues to record “revenues in the millions.”

Those revenues have been bolstered by the success of products such as TuffTek, a coating with applications for a variety of cutting tools and wear parts. Moving into the oil and grease industry with products like those in the nGlide suite, though, opens a significantly larger market.

“That might be a $50 billion market, cutting tools. This is kind of immeasurable,” Phillips said of oil and grease.

Thus the need for the national investment round, which will be NanoMech’s second in the past 18 months.

“That money went into both research and development, and production, and that’s where it’s supposed to go,” Phillips said. “The next round is going into sales and marketing — production jobs and sales and marketing jobs.”

 

About NanoMech:

NanoMech Inc., (www.NanoMech.com), was founded in 2002 and creates advanced engineering materials through patent and patent-pending nano-inspired and nano-manufactured product development.  NanoMech is a pioneer in applying breakthrough nano-engineered innovations to robust areas of national interest including machining and manufacturing, lubrication and energy, and strategic military applications. NanoMech brings ideas from innovation to implementation, commercializing nanomanufactured products at record speed in the market.

 

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