An environmentally friendly alternative to the traditional chrome plating process launched through Notre Dame’s IDEA Center has secured a private investor and business partner.
North Carolina-based steel manufacturer Nucor Corp. announced July 27 it has purchased a minority equity stake in the parent company of Trion Coatings LLC of South Bend, which is developing alternative chrome plating technology. Trion was incubated at the University of Notre Dame’s IDEA Center, which assists entrepreneurs launch new businesses and bring ideas to life.
Nucor will work with Trion to commercialize its technology and will be constructing a pilot facility at Nucor Fastener in St. Joe near Fort Wayne, Nucor said in a statement. Nucor also holds an exclusive worldwide license agreement for the technology as applied to long steel products.
“We are very excited to invest in this cutting-edge technology, working together with Trion Coatings and the University of Notre Dame to create a much safer work environment, and advancing this technology to the commercial level,” said John Ferriola, chairman, CEO and president of Nucor. “As the nation's largest recycler, we are constantly looking for ways to increase the sustainability of our business and reduce the impact on our environment.”
Trion Coatings utilizes a patent pending process using Cr(III) salts and a proprietary ionic liquid solution, Nucor said. The process allows for greater electroplating speeds, improved wear resistance and overall higher performance than the traditional chrome plating process as well as an improved health and safety profile.
Middleburg Capital Development of Virginia is the majority equity holder of Trion, with another minority equity stake held by the University of Notre Dame. Middleburg has been an early advocate of Notre Dame's IDEA Center.
“Trion is a prime example of how research at the University of Notre Dame and the IDEA Center's commercializing process work in harmony to foster new frontier research and commercialize it to do bold things for the human community,” said Tim Sutherland, chairman of Middleburg Capital Development. “Our success is a credit to the Trion Coatings founders and scientists who worked diligently and with unwavering commitment to create a chrome coating that will change steel finishing forever while benefiting human health and safety in immeasurable ways.”
Nucor and its affiliates are manufacturers of steel products, with facilities in the U.S. and Canada.
