Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram Visit the TPC Store
Search the site




Coatings Industry News

Main News Page

Tesla Announces $50M Investment

Thursday, November 21, 2013

More items for Coating Materials

Comment | More

Protective coatings maker Tesla NanoCoatings says it is poised for significant growth with a new "strategic partnership" and major investment by a Korean chemical firm.

SK Global Chemical, based in Seoul, will invest up to $5 million in Ohio-based Tesla in the first year and up to $50 million over the next five to seven years, the coatings company announced this week.


Founded in 2007, the rapidly growing nanotech company produces Teslan, a line of two-coat protective coatings for steel.

Tesla NanoCoatings

Teslan, developed in collaboration with Army researchers, is used on tanks at Fort Bragg. Tesla has focused on military and oil and gas applications.

Teslan's primer is a two-part solvent-based product containing fullerene carbon nanotechnology; the topcoat is available in an epoxy, polyurethane or polyaspartic formulation.

The coating was developed in collaboration with the U.S. Army Engineer Research and Development Center and has won several awards.

The company has focused Teslan on applications in the oil and gas and military sectors, but says it has begun testing and compliance activities to expand to other markets.

'Important Step Forward'

The partnership with SK Global Chemical has been in the works for several months and will provide Tesla NanoCoatings with immediate and future benefits, said president and CEO Todd Hawkins.

“We are excited with this opportunity to partner with SK Global Chemical,” said Hawkins. “This is an important step forward for our company."

NorTech TV

Tesla NanoCoatings CEO Todd Hawkins says the investment "validates" the Teslan technology and will spur "significant growth" for his company.

Just as significant as the financial infusion is that the deal "validates our own technology," said Hawkins. "It demonstrates that it is respected globally for its effectiveness in combating corrosion."

Part of the investment will go toward building "a world-class nanotechnology manufacturing facility here in Ohio," said Hawkins.

The company is currently located at Stark State College in North Canton, OH.

About SK Global

SK Global Chemical is a subsidiary of SK Innovation, Korea’s first oil refiner, and has been servicing customers in the petrochemical industry for over 50 years. SK Group is a Global Fortune 100 Company employing nearly 78,000 people with revenues of $148 billion in 2012.

“For our company, Tesla NanoCoatings is a perfect fit, “ said IB Kim, Vice President, head of the global business development division of SK Global Chemical. “Tesla NanoCoatings’ technology and early successes in the U.S. are aligned with our vision to be global leader.”

Hawkins said the partnership “allows us to go the next level, in so many ways."

"In the long run, we have the potential to expand current revenue tenfold."


Tagged categories: Business operations; Coating Business; Coatings manufacturers; Corrosion protection; Military; Nano and hybrid coatings; Nanotechnology; Oil and Gas; Tesla NanoCoatings

Comment from Paul Hayles, (5/24/2017, 8:45 AM)

I've worked with Joe Davis with Tesla Nano Coating, done some test panel, applied the two coat Nano system, over a year ago tested the panels with salt test, etc. the Nano system holding up to the test, well done ...going strong... no corrosion etc.

Comment Join the Conversation:

Sign in to our community to add your comments.

New resins from BASF will have metals loving water!
Excellent corrosion resistance, low VOC, high gloss, thin films 800-231-7868

Mitsubishi Gas Chemical America
Performance Amine 1,3-BAC
A highly reactive cycloaliphatic diamine offering superior performance. Reasonable cost and curing efficacy makes it suitable for all types of epoxy resin applications.

Tarps manufacturing, Inc.
QUALITY MADE IN AMERICA —Available near you!
CLICK to get a behind-the-scenes look at how Tarps Manufacturing makes the highest-quality tarps right here in the USA — available nationwide.

SAFE Systems, Inc.
Portable Blast &
Recovery Equipment
Trailer or skid mounted blast and recovery equipment. Systems designed for maximum versatility, environmental compliance
and overall cost savings.
Call 1-800-634-7278

ARC / A.W. Chesterton Company
Superior Impact & Wear Resistant Lining
100% solids, impact resistant, ceramic reinforced, epoxy/urethane hybrid lining for severe abrasive wear and impact resistance.

Jotun Paints Inc.
Jotun Jotachar 1709
Mesh-free passive fire protection epoxy designed to protect against hydrocarbon pool fire scenarios for up to four hours as defined in the ANSI/UL1709 standard.

Carboline Company
New product: Carbozinc® 608 HB
Introducing a new high build zinc-rich primer that can save you time and money by eliminating the epoxy intermediate coat!

NLB Corporation
NLB Sure Shroud: Greater Protection and Flexibility
NLB’s Sure Shroud’s lighter weight and flexibility reduces operator fatigue and offers unmatched protection against high pressure hose ruptures. 10k to 40k psi rated.

Industrial Vacuum Equipment Corp.
Hurricane Vacuums
& Dust Collectors
Vacuum and dust collector hose, filters and related accessories.

Graco Inc.
Graco EcoQuip 2: Experience the Difference
While others claim their equipment is the same, none of them compare to Graco’s EcoQuip 2™ Vapor Abrasive® blasting line. Visit to learn more.


Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL

The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us