Greetings from San Francisco, where I am attending the Angel Capital Association (ACA) annual meeting. This afternoon, the ACA introduced a new award named after Luis Villalobos, one of the nations’ most prominent angels and founder of the Tech Coast Angels, who unexpectedly died last Fall. I was asked to introduce Christina Lomasney, the Modumetal CEO. Here are my remarks and the ACA press release:
Thanks, Richard [Sudek, the chair of the TCA and outgoing ACA board member].
It was just one short year ago in Atlanta that Luis and I decided to walk back from dinner and discuss our shared passions for Angel investing and innovative companies.
It is my distinct pleasure to introduce Christina Lomasney and Modumetal both of whom embody my discussion with Luis and a great example of Peter’s [Diamandis, Chairman of the X Prize Foundation, who had just spoken] exponential company.
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.
Christina has inspired the Alliance of Angels and other local angels with her vision to invest more than $4.9M. And inspired her employees to achieve great things with limited resources. And inspired large customers 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.
Join me in recognizing the 2010 Luis Villalobos Award winner Modumetal and Christina Lomasney.
Here is the ACA Press Release:
For Immediate Release
913-894-4700 x1 (or 816-668-2248)
Modumetal Named 2010 Luis Villalobos Award Recipient
National Award Recognizes Most Innovative Idea Financed by ACA Angel Group
San Francisco, CA, May 6, 2010 The Angel Capital Association (ACA) named Modumetal of Seattle, WA, as inaugural winner of the Luis Villalobos Award.
The national award, which was established in 2010 to honor the late Mr. Villalobos, founder of Tech Coast Angels and a true “leading light” in the angel field, recognizes the most ingenious and innovative idea recently financed by one of the member angel groups of the Angel Capital Association.
Christina Lomasney, Modumetal co-founder, president, and CEO was presented the award at the 2010 ACA Summit in San Francisco, CA. The Summit was attended by 400 angel group leaders and investors from the United States, Canada, and 23 other countries.
“Luis was an innovator and a ferocious learner and tireless entrepreneur supporter,” said Richard Sudek, chairman of Tech Coast Angels and chair of the Luis Villalobos Award committee. “He started one of the early angel groups, and was intrigued and excited about innovative technology, science, and new ways of doing things. It made so much sense for ACA to honor Luis with this award which recognizes entrepreneurs who make very unique contributions that are disruptive or game changing.”
Modumetal is creating a new class of ultra-high performance nano-laminated materials.
“The leadership and support that Mr. Villalobos represented in helping entrepreneurs to realize their visions for the world echoes clearly today for Modumetal in his stories, his example, and in his own perseverance in realizing the Tech Coast Angels.” Lomasney said. “The Modumetal team is grateful for Luis’ inspiration and is honored to be the first to receive the Luis Villalobos Award for innovation.”
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.
Alliance of Angels (AoA) of Seattle, WA co-led a multimillion-dollar Series A investment round in Modumetal. The syndicated round included significant investment from AoA members as well as from co-lead investor Second Avenue Partners and the Washington Research Foundation of Seattle.
“Between the people, the product, and their approach, I think Modumetal is one of the most creative and innovative companies in my twenty-five years of investing,” said Dan Rosen, Alliance of Angel chair.
Modumetal’s nano-laminate alloys have the potential to create an entire multi-billion industry that will transform transportation, aerospace, energy, and defense industries.
“This is exactly the sort of deal that Luis would have loved,” Rosen said. “Modumetal has inspired its employees to achieve great things, its investors to believe they can change the world, and its customers to work with this small startup to implement this striking innovation and change the way things are done.”
The Angel Capital Association
(ACA) is a trade association that supports angel investment groups in North America. ACA was founded by angel investment groups located in the United States and Canada to help maximize the success of group based angel investors. (www.angelcapitalassociation.org)
Modumetal of Seattle, WA, 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. (www.modumetal.com).