As we near the end of 2024, it’s been another growth 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 fundraising, product deliveries, sustainability efforts, new partnerships, and more...
Quick Recap
- Sea Otter Classic 2024 - Increased our exhibitor presence at the largest cycling festival in the USA (Monterey, CA), where we met with thousands of cyclist and future customers, including an opportunity to work with Google. Our METL waitlist is at almost 25,000 cyclists and growing. Demand remains high.
- EPA GrantWork - Completed our phase I research at the University of Akron on behalf of the EPA to further study the recyclability of NiTinol and shape memory alloys. We recorded valuable data that will greatly benefit the continued development of sustainable materials for our SMART tire products and the future of mobility.
- Materials Upgrade - We added an additional NiTinol manufacturer to our supply chain, providing higher grades of SMA (from wire to sheets), faster lead times for prototyping, and more cost-efficient manufacturing. This will also widen our international footprint.
- NASA Inspection & License Renewal - We passed all business and quality control inspections by NASA when they visited our lab in Akron, Ohio, over the summer. We will continue our exclusive license with NASA to further develop superelastic tire technologies for terrestrial and extraterrestrial work.
- Lunar Robotics Project - Demand for our space/rover tire technology continued as we completed phase I contracts with two, new Fortune 500 aerospace companies developing rovers for future lunar missions.
- Hyundai Motor Group - As winners of the Accelerate the Future Challenge, we were invited to Seoul, South Korea, to attend the prestigious Hyundai Open Innovation Lounge at Hyundai/Kia Motors Headquarters. We met with the CEO of both Hyundai and Kia and revealed our car tire concept (and other market prototypes) to various departments within the organization and received rave reviews.
Key Initiatives for 2025
While we continued to make strategic investments in R&D and infrastructure, we have remained committed to operational efficiency, ensuring that our investments position us for long-term, sustainable growth. The combination of our product innovation, strong partnerships, and growing market demand has positioned us to achieve continued financial success in the coming years.
As we move into 2025, we have several key initiatives that will continue to drive our future growth:
- First deliveries of our METL airless bicycle tire
- Pilot programs with mobility fleets for our scooter tire
- Rover tire design and development with top aerospace companies
- Streamlining our early-stage manufacturing (New York)
- Collaboration with Hyundai and Kia Motors
- Phase II car tire development with top tier tire manufacturer
- New hires within our Engineering and Operations departments
- Fundraising via private equity for go-to-market preparation and scalable manufacturing
CES 2025 Exhibition with Hyundai
The SMART Tire Company is excited to announce its return as an exhibitor at CES 2025 in Las Vegas (Jan 7-10), showcasing our groundbreaking innovations in airless tire technology. This year, we are thrilled to be partnering with Hyundai, a global leader in automotive technology, for a collaboration that promises to redefine the future of mobility.
As a second-time exhibitor at CES, The SMART Tire Company will unveil our latest automotive developments in tire technology powered by shape memory alloys. Together with Hyundai, we will demonstrate how our innovative tires are set to transform transportation, from electric vehicles to autonomous mobility solutions. If you’re in Vegas, stop by The Venetian Expo - Hall G and say hello!
Conclusion
We look forward to our biggest year-to-date in 2025! Exciting times ahead! We thank you for your continued support and patience as we work towards realizing our vision of a smarter, more sustainable future for the tire industry. We are optimistic about the opportunities ahead and look forward to keeping you updated on our progress.
Happy New Year!! 🍾
The SMART Team
