
It's bulletproof, fire-resistant and stronger than steel. It's superwood.
A strange new substance will begin rolling off the assembly line: soft wood transformed at the molecular level into something stronger than steel yet one-sixth the weight.
Its name is, maybe, a bit on the nose: Superwood.
Its maker, startup InventWood, says it could someday replace steel I-beams in the skeleton of a building, while being impact-resistant enough for bulletproof doors. It's also fire resistant—the outside carbonizes in a way that protects the inside, and it won't sag in a fire like steel. It would be a coup if the company can replace a good chunk of construction-grade steel and concrete with scrap wood that is otherwise unusable waste.
Superwood is also, I can attest, beautiful. The densification process deepens its color and brings out its natural grain. Alex Lau, InventWood's chief executive, handed me several of the oddly lustrous, improbably stiff boards as we toured the company's test lab and under-construction factory in central Maryland.
In my hands, Superwood feels like an otherworldly object—amazingly strong and light. I could easily snap an eighth-of-an-inch-thick pine board in half (not to brag), but a sheet of Superwood with the same dimensions merely flexes slightly, no matter my effort. A foot-long stick, just a half-inch thick, was so rigid I couldn't bend it at all.
Sometime this summer, the world's first Superwood factory will go online. On my tour, I saw its beginnings, from a lab setup to a pilot system the size of a school gymnasium, then finally the gigantic factory floor, with machinery that towered over me. Soon, it will be churning out Superwood at an industrial scale, and the test of this new material's marketability will begin. The company says customers will be able to buy it for about the same price as high-end building facades, or tropical hardwood.
'Engineered" wood is big right now. The industry has long used scraps to make those familiar sheets of oriented strand board (better known as OSB), which differs from plywood but is still made with glued-together layers. Now researchers and engineers are evolving the concept.
Wood giant Weyerhaeuser just broke ground on a $500 million plant in Arkansas to create TimberStrand, which is made from scrap but can be stronger than conventional lumber. And InventWood is drawing on the industry's expertise: The company's plant manager came from Weyerhaeuser.
Some builders are experimenting with cross-laminated timber—carefully layered wood planks—to replace smaller steel or concrete structural elements. This has led to things like wooden skyscrapers and the warm, inviting, $2 billion airport terminal in Portland, Ore.
This movement toward ever-larger wooden buildings has depended on updating building codes and convincing people they won't go up in flames, says Caitlin Mueller, director of the Building Technology program at Massachusetts Institute of Technology. Properly designed, engineered wood buildings are quite safe in fires, she adds.
Traditional stick-built construction, with thin boards and ready access to oxygen, isn't. 'You're basically making a little campfire," she says.
Liangbing Hu is the Willy Wonka of engineered wood. Now a professor at Yale, he previously served as director for the Center for Materials Innovation at the University of Maryland. There, he invented transparent wood, wood that could be molded like plastic, and wood that bounces like a rubber ball. All of his inventions involved messing with wood at the molecular level.
In 2018, Hu and his colleagues made waves among material scientists when they presented Superwood's enabling technology in a paper in Nature.
To create Superwood, they started by cooking and chemically treating the wood. Then they compressed it, so a typical board becomes one-quarter as thick. Hu found that the process pushed cellulose fibers closer together and collapsed the channels that make up a tree's circulatory system.
One challenge for Superwood: While it's much stiffer than regular wood, it's still not as stiff as steel or concrete, so buildings have to be designed not to flex too much, says MIT's Mueller.
After its initial buzz, most wrote off Superwood as a curiosity. Not Lau. He reached out to Hu and helped commercially launch InventWood in 2021. The startup nabbed a $20 million scale-up grant from the Energy Department the following year, and has also received $30 million in financing from a variety of investors.
Today, InventWood is bringing Superwood to market with a 90,000-square-foot manufacturing facility—and it's already planning a new facility three times as large.
In a recent tour of the nearly ready factory, I saw the entire process from start to finish. The company asked me not to reveal details about how it makes Superwood, because of their fear that companies overseas—Lau wouldn't say where, but it was obviously China—would copy their process.
Focusing on profitability, InventWood will initially market Superwood as siding, which requires minimal certification, says Lau. It could also be used as decking—it has longevity and weather resistance similar to tropical hardwoods—as well as fencing and window mullions.
Establishing that Superwood can be used as structural elements in buildings requires certification by the company's partners, which include builders and architects. It also requires new building processes, since the stuff is strong enough to eliminate the steel joinery that is typical in engineered wood structures. Future buildings could be built with ancient techniques—think pegs made out of Superwood hammered into beams made from it, says Lau.
Applications go beyond construction. Superwood is like carbon fiber, but less brittle, and carbon fiber is already used in everything from sports equipment and tennis shoes to race cars and airplanes. The last notable wooden airplane was the De Havilland Mosquito, in World War II, but in a future of eVTOLs, otherwise known as 'flying cars," a material like Superwood could be in demand. And who wouldn't want a laptop or smartphone made of deeply hued, extra-strong wood? Machining it requires new techniques, but those aren't out of the question, says Lau.
As my tour of InventWood's factory wound down, Lau gestured to the steel endoskeleton of his company's brand new space. Someday, he said, even this factory could be constructed from the same material it produces. For now, though, there is no shortage of partners lining up to test this new substance, and they take priority.

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Mint
08-07-2025
- Mint
Banking's Newest CEO Plots a Comeback for Most Unloved Stock
Gunjan Kedia wondered why her interviewer was asking for her feelings about penguins. She'd just arrived from New Delhi to Pittsburgh for business school and hadn't yet learned the name of her new city's beloved ice hockey team. It didn't take long for her to get the lay of the land and begin rising through the finance industry. Decades later, she's at the top of it. The new head of U.S. Bancorp, parent of U.S. Bank, has a chance to reinvigorate the country's fifth biggest commercial lender after it disappointed investors and analysts with lackluster returns. The bank didn't keep pace in Wall Street's all-important race to digitize banking and was on the back foot during a bout of industry turmoil as it sorted out a big deal it struck when the market had boomed. That left its stock at the bottom of a much-used industry index over the past decade. Now, with its assets approaching a threshold inviting stricter regulation, onlookers and rivals wonder if it should vault over it with a major merger. The way she sees it, the bank is ready to thrive after its years of investments put it on stronger footing. 'We've been telling that story over and over again,' Kedia, 54, said in an interview. 'People don't believe us very much, because you have to show the results.' Change and even strife are woven into U.S. Bank's history. Its predecessor opened in 1863 as Civil War cannons fired nearby, according to the firm, and an early branch fell victim to outlaw Butch Cassidy's first bank robbery. More than a century later, an acquisition spree built the lender into one of the country's biggest, and when the industry was threatened by the 2008 financial crisis it was seen as soundly managed. Air Fresheners Kedia traces the beginnings of her career to a pair of jeans she wanted in the ninth grade. To pay for them, with encouragement from her mom, she went door-to-door in New Delhi to sell air fresheners. After Kedia attended an all-girls school, she staged what she's described as her own kind of rebellion to enroll in what was then the Delhi College of Engineering, where there weren't many women. They welded, forged, blacksmithed and cut sheet metal, helping her get 'very comfortable being the only one to be something,' she said in a career talk a few years ago. She joined McKinsey in 1996, helping efforts to modernize technology for finance firms and making partner by 30. One longtime client, Mellon Financial Corp. boss Martin McGuinn, told her to call him first if she decided to leave. She did, and started at Mellon in 2004. It was a time of national consolidation, and Mellon soon merged with the Bank of New York to form what's now called BNY. 'When you're doing integration, it's intense work,' she said. It entails competition and a fraught decision to pick 'whose product survives.' After a few years, she accepted a job offer from State Street Corp., one of the country's biggest banks. Then, two weeks later, Lehman Brothers failed, changing her focus instantly. 'Overnight, the job became about risk management,' Kedia said. In 2016, she joined U.S. Bank to oversee its wealth management and securities services business. In the crisis years earlier, the company's tight risk management, limited exposure to subprime mortgages and high capital levels had given it an upper hand. But as the industry adjusted to new rules put in place to make it safer, the bank was late making investments in technology, which made it expensive to catch up. Andy Cecere, her quiet and numbers-savvy predecessor, was promoted to CEO in 2017. As rivals got bigger — two merged in a mega-deal to form Truist Financial Corp. — he eyed a bigger presence on the West Coast. In September 2021, U.S. Bank announced it would acquire MUFG Union Bank's core regional banking business from Mitsubishi UFJ Financial Group Inc. But regulatory reviews took longer than expected, right as aggressive rate hikes caught much of the industry off guard, eroding the value of bonds in bank portfolios. MUFG Union Bank saw $2.1 billion of unrealized losses just before the deal closed in December 2022, which stung U.S. Bank. Within months, those rate hikes helped engulf regional banks in crisis. When regulators invited lenders including U.S. Bank to bid on beleaguered First Republic, capital was one reason it demurred. And as those government officials responded to the turmoil with talk of stricter capital rules, short sellers were circling. U.S. Bank helped drive some of them away by strengthening its balance sheet, including by selling underwater bonds and other assets. Last year, when she was promoted to president, she and her husband celebrated with a private jet ride from Minneapolis to the Kentucky Derby, according to a post on his blog. The family has accumulated other markers of wealth, according to that blog, including a Ferrari. Kedia became chief executive this April, making her the second woman to run one of the biggest US banks. Her most pressing goals — which include managing expenses, boosting results in the payments business and growing the bank without mergers or acquisitions — are more about improvement than disruption. Back when she joined U.S. Bank, the businesses she oversaw accounted for about 10% of total revenues, Cecere has said, and five years later that portion was twice as high. Now she has to repeat that success on a wider stage. Part of the bank's payments business, which processes money as it moves around behind the scenes, was seen for years as a drag on its resources. Kedia, who said past investments have positioned it to drive profits, hopes to make the bank into a stronger version of itself by the time it hits $700 billion of assets, the threshold that triggers stiffer regulation. She's less interested, for the time being, in buying a rival. 'I've been very clear: It's not on the table,' Kedia said. 'We take our medium-term goals very seriously, and M&A does not fit that promise to restore our valuation, to restore investor confidence.' According to Art Collins, the bank's former lead board director, she'll have to think at some point about expanding consumer banking on the East Coast and in the South. 'It's highly likely that she would do that through an acquisition as opposed to trying to build it organically.' Irish Whiskey Even as the bank looks ahead, its executives have dealt with loss. Terry Dolan, a veteran colleague, died in a plane crash in March. 'When something positive happened, like when we closed an acquisition, Terry would come around the corner of my door, lean in, with his big grin and a bottle of Irish whiskey,' Cecere said in a memorial speech. 'And he'd swirl it around and he'd say, 'we did it.'' When Kedia was working for State Street, she endeared herself to Jay Hooley, who was then its CEO. Now that she's one too, he said, she'll benefit from the kind of 'straight talk about what's going on' that she used to give him. 'She'll need that.' With assistance from Sridhar Natarajan. ©2025 Bloomberg L.P. This article was generated from an automated news agency feed without modifications to text.


Mint
29-06-2025
- Mint
It's bulletproof, fire-resistant and stronger than steel. It's superwood.
FREDERICK, Md.—Inside a cavernous warehouse, in the midst of a half-finished industrial park not far from a Civil War battleground, robot arms the size of Cadillac Escalades are rehearsing their moves for a tightly choreographed dance that will commence later this summer. A strange new substance will begin rolling off the assembly line: soft wood transformed at the molecular level into something stronger than steel yet one-sixth the weight. Its name is, maybe, a bit on the nose: Superwood. Its maker, startup InventWood, says it could someday replace steel I-beams in the skeleton of a building, while being impact-resistant enough for bulletproof doors. It's also fire resistant—the outside carbonizes in a way that protects the inside, and it won't sag in a fire like steel. It would be a coup if the company can replace a good chunk of construction-grade steel and concrete with scrap wood that is otherwise unusable waste. Superwood is also, I can attest, beautiful. The densification process deepens its color and brings out its natural grain. Alex Lau, InventWood's chief executive, handed me several of the oddly lustrous, improbably stiff boards as we toured the company's test lab and under-construction factory in central Maryland. In my hands, Superwood feels like an otherworldly object—amazingly strong and light. I could easily snap an eighth-of-an-inch-thick pine board in half (not to brag), but a sheet of Superwood with the same dimensions merely flexes slightly, no matter my effort. A foot-long stick, just a half-inch thick, was so rigid I couldn't bend it at all. Sometime this summer, the world's first Superwood factory will go online. On my tour, I saw its beginnings, from a lab setup to a pilot system the size of a school gymnasium, then finally the gigantic factory floor, with machinery that towered over me. Soon, it will be churning out Superwood at an industrial scale, and the test of this new material's marketability will begin. The company says customers will be able to buy it for about the same price as high-end building facades, or tropical hardwood. 'Engineered" wood is big right now. The industry has long used scraps to make those familiar sheets of oriented strand board (better known as OSB), which differs from plywood but is still made with glued-together layers. Now researchers and engineers are evolving the concept. Wood giant Weyerhaeuser just broke ground on a $500 million plant in Arkansas to create TimberStrand, which is made from scrap but can be stronger than conventional lumber. And InventWood is drawing on the industry's expertise: The company's plant manager came from Weyerhaeuser. Some builders are experimenting with cross-laminated timber—carefully layered wood planks—to replace smaller steel or concrete structural elements. This has led to things like wooden skyscrapers and the warm, inviting, $2 billion airport terminal in Portland, Ore. This movement toward ever-larger wooden buildings has depended on updating building codes and convincing people they won't go up in flames, says Caitlin Mueller, director of the Building Technology program at Massachusetts Institute of Technology. Properly designed, engineered wood buildings are quite safe in fires, she adds. Traditional stick-built construction, with thin boards and ready access to oxygen, isn't. 'You're basically making a little campfire," she says. Liangbing Hu is the Willy Wonka of engineered wood. Now a professor at Yale, he previously served as director for the Center for Materials Innovation at the University of Maryland. There, he invented transparent wood, wood that could be molded like plastic, and wood that bounces like a rubber ball. All of his inventions involved messing with wood at the molecular level. In 2018, Hu and his colleagues made waves among material scientists when they presented Superwood's enabling technology in a paper in Nature. To create Superwood, they started by cooking and chemically treating the wood. Then they compressed it, so a typical board becomes one-quarter as thick. Hu found that the process pushed cellulose fibers closer together and collapsed the channels that make up a tree's circulatory system. One challenge for Superwood: While it's much stiffer than regular wood, it's still not as stiff as steel or concrete, so buildings have to be designed not to flex too much, says MIT's Mueller. After its initial buzz, most wrote off Superwood as a curiosity. Not Lau. He reached out to Hu and helped commercially launch InventWood in 2021. The startup nabbed a $20 million scale-up grant from the Energy Department the following year, and has also received $30 million in financing from a variety of investors. Today, InventWood is bringing Superwood to market with a 90,000-square-foot manufacturing facility—and it's already planning a new facility three times as large. In a recent tour of the nearly ready factory, I saw the entire process from start to finish. The company asked me not to reveal details about how it makes Superwood, because of their fear that companies overseas—Lau wouldn't say where, but it was obviously China—would copy their process. Focusing on profitability, InventWood will initially market Superwood as siding, which requires minimal certification, says Lau. It could also be used as decking—it has longevity and weather resistance similar to tropical hardwoods—as well as fencing and window mullions. Establishing that Superwood can be used as structural elements in buildings requires certification by the company's partners, which include builders and architects. It also requires new building processes, since the stuff is strong enough to eliminate the steel joinery that is typical in engineered wood structures. Future buildings could be built with ancient techniques—think pegs made out of Superwood hammered into beams made from it, says Lau. Applications go beyond construction. Superwood is like carbon fiber, but less brittle, and carbon fiber is already used in everything from sports equipment and tennis shoes to race cars and airplanes. The last notable wooden airplane was the De Havilland Mosquito, in World War II, but in a future of eVTOLs, otherwise known as 'flying cars," a material like Superwood could be in demand. And who wouldn't want a laptop or smartphone made of deeply hued, extra-strong wood? Machining it requires new techniques, but those aren't out of the question, says Lau. As my tour of InventWood's factory wound down, Lau gestured to the steel endoskeleton of his company's brand new space. Someday, he said, even this factory could be constructed from the same material it produces. For now, though, there is no shortage of partners lining up to test this new substance, and they take priority.


Economic Times
11-06-2025
- Economic Times
Waaree Energies shares jump over 4% as US subsidiary secures 599 MW solar module order
Waaree Energies shares: The stock experienced strong price movement and robust trading activity, with about 1.71 lakh shares changing hands on the BSE—well above the two-week average of 1.41 lakh shares. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Waaree Energies share price target Waaree Energies share price performance Shares of Waaree Energies rose over 4% to Rs 2,955 in Wednesday's trade on the BSE after its wholly-owned subsidiary, Waaree Solar Americas , secured a major order for 599 MW of solar modules from a leading international a regulatory filing, the company said, 'Waaree Solar Americas, a wholly-owned subsidiary of the company, has received an order for the supply of 599 MW solar modules from a well-known customer engaged in the development and operation of utility-scale solar and energy storage projects across the United States.'The stock saw strong price action and heavy trading volumes. Around 1.71 lakh shares were traded on the BSE, significantly higher than the two-week average volume of 1.41 lakh Read: SBI, Bank of Baroda among 10 banks that saw NPA decline in Q4 Earlier in May, the company announced board approval to acquire Kamath Transformers Private Ltd for Rs 293 crore. Kamath Transformers is involved in the manufacturing of transformers.'This acquisition is part of the company's business expansion plans,' Waaree Energies said in an exchange the board approved the acquisition of Green New Delhi Forever Energy Private Limited by Waaree Forever Energies Private Limited, a wholly-owned subsidiary. The deal will be executed at Rs 1 lakh per share, with a face value of Rs 10 each. Both acquisitions are expected to be completed in FY26 and will be entirely funded through cash Read: Civil War has begun! Rich Dad Poor Dad author Robert Kiyosaki warns of global chaos, backs Bitcoin as the only safe haven According to Trendlyne, the average target price for Waaree Energies is Rs 2,602, indicating a potential downside of around 11% from current levels. The stock holds a 'Sell' rating based on recommendations from four the technical front, the stock's Relative Strength Index (RSI) stands at 53, indicating neutral momentum. (An RSI above 70 is considered overbought, while below 30 is oversold.) The MACD is at 78.7—above the center line, but below the signal stock is currently trading above all key moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day simple moving averages (SMAs), reinforcing the positive Energies has gained 12% over the past month and 38% in the last three months. Its current market capitalisation stands at Rs 83,793 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)