#28: 2023 End of Year Review
As we near the end of 2023, it’s been a huge year for The SMART Tire Company, Inc. Here’s a look back at some of our accomplishments from the past year, plus new updates on our funding, patent portfolio, sustainability, manufacturing and more...
Quick Recap
CES 2023 - Exhibitors in Las Vegas / STC won 2 CES Innovation Awards / #1 All-Time video on Digital Trends
Sea Otter 2023 - Exhibitors at largest cycling festival in the USA, where we met thousands of mountain bikers and future customers.
Abu Dhabi, UAE - Presented our tires at MOVE conference in Abu Dhabi / STC will be on display at museum in Dubai in 2024 (Museum of the Future)
Viva Technology 2023 - Exhibitors at largest technology innovation conference in Europe / President of France & Elon Musk were also in attendance
Goodwood Festival of Speed - Invited to exhibit in UK with ESA, luxury car brands, and Formula 1 teams / Debuted our airless scooter tire with ride demonstrations
Kickstarter Campaign - Pre-sales for METL bicycle tire / Project fully funded in just 15 minutes / Deliveries start in June 2024
Madrid, Spain - Invited as guests on #1 talk show in Spain for live demo to 4.5M viewers
Creative Destruction Lab - Selected to participate in CDL’s prestigious accelerator space program
Fortune 500 clients - - Space tire with 3 Fortune 500 aerospace companies (and more) as clients
Greentech Festival 2023 - Nominated as top 3 finalist for international Green Award
Veritasium - Featured alongside NASA in very popular science/engineering YouTube channel (14M subscribers)
TIME Magazine - STC airless tire selected as one of the world’s Best 200 Inventions of 2023
Space Tire Patent granted by USPTO
STC has a deep portfolio of patents pending for airless tire designs and innovations (IP moat). In November, we received notice of our first granted patent #US20230241919A1, which secures 15 different claims related to our breakthrough space tire technology. With this patent in place, we are uniquely positioned to supply the world’s ONLY advanced space tire technology to private companies and governments pursuing the space economy on the Moon, Mars and beyond!
EPA (Environmental Protection Agency) Grant
The SMART Tire Company was selected as one of only 23 companies nationwide to receive a Phase I SBIR grant from the Environmental Protection Agency for 2024. This prestigious honor includes $100k of non-dilutive funding to support further STC research into sustainable tire production and recycling of nitinol materials. Entitled, Recycle & Reuse for Superelastic SMA Tires via Intermediate Thermal Annealing.
With the potential for up to $600k in additional funding during Phase II, this is another major step towards becoming the tire industry’s leader in sustainability. /read press release/
SMART Tire Manufacturing
In recent weeks, we have been engaged in constructive discussions with a renowned manufacturing company about the possibility of a strategic partnership to produce our award-winning airless bicycle tire, which was also selected as one of TIME’s Best Inventions of 2023. This collaboration has the potential to not only elevate the quality and efficiency of our manufacturing process but also position SMART Tire as a leading player in the global market.
Made in the USA, Shipped Worldwide: Our commitment to quality remains unwavering, and we are excited about the prospect of working with a manufacturing partner that shares our dedication to excellence. By keeping production in the USA, we aim to support local economies while ensuring that our innovative airless bicycle tires continue to meet the highest standards with a focus on high performance and sustainability.
Enhanced Production Capacity: Partnering with an established manufacturing company opens up avenues for scalability. This means increased production capacity (they are capable of manufacturing 100,000 units a month, if needed), allowing us to meet growing demand and fulfill orders efficiently. As a result, we can better serve our customers and expand our global reach.
Technological Advancements: The potential partnership brings opportunities for integrating advanced manufacturing technologies into our production process in current and future tire categories (automotive, motorcycles, motorsports, etc.). This will not only streamline operations but also allow us to stay at the forefront of innovation in the fast-growing electric vehicle manufacturing industry.
While these discussions are still in progress, we wanted to keep our valued investors informed about the exciting developments on the horizon. We believe that this collaboration, if finalized, will mark a pivotal moment in The SMART Tire Company’s journey, unlocking new possibilities and propelling us toward even greater success in 2024.
Sea Otter Classic 2024
After a successful showing earlier this year, The SMART Tire Company will be returning to Monterey, CA, as exhibitors for the Sea Otter Classic 2024, April 18-21. This premier cycling event (largest in the nation) provides us with an incredible opportunity to showcase our groundbreaking tires, while getting direct feedback from the 150,000+ cycling enthusiasts and adjacent cycling brands that are in attendance.
In 2024, attendees will have the chance to experience firsthand the revolutionary technology behind our METL tires through our first-ever ride demos (road, gravel, e-scooter)! We believe that letting cyclists feel the differences AND similarities will speak volumes about the superior performance and durability of our airless tires. A real game-changer within the cycling industry.
But that’s not all - we will also be unveiling our much-anticipated airless MTB tire prototype. This marks a significant expansion of our product line, catering to the diverse needs of mountain bike riders everywhere. Yes, we heard you loud and clear at the Sea Otter Classic 2023! We love getting insightful feedback from avid riders and future customers. We’re always listening.
Happy Holidays!
As we gear up for these significant events and milestones in 2024, we want to thank our investors and supporters for being an essential part of the SMART Tire family. Your belief in our vision has been the driving force behind our progress, and we're excited to continue this journey with you. Have a wonderful time celebrating the rest of 2023 and know that we are working diligently to deliver on everything that we speak of.
Cheers,
The SMART Team
Reinventing the wheel.™ (yes, we own this trademark, too!)
invest.tires