Material Technologies, Inc. Acquires License for a Pulsed Eddy Current Instrument
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LOS ANGELES, July 9 / -- Material Technologies, Inc., a company that engages in the research and development of technologies to monitor and measure metal fatigue, today announced that it has acquired in a stock transaction Non-Destructive Assessment Technologies, Inc., a wholly owned subsidiary of UTEK, a specialty finance company focused on technology transfer.
Non-Destructive Assessment Technologies, Inc. holds a license for a portable device that provides a visual display of sites where metal has been lost due to corrosion in metallic layered structures. The technology provides data that gives both layer thickness and flaw detection information. The technology was developed at Iowa State University.
"Material Technologies, Inc. is focused on monitoring and measuring metal fatigue cracks in metal components across a wide variety of structures and equipment. We are enthusiastic about adding this technology to our product line," said Robert M. Bernstein, Chief Executive Officer of Material Technologies, Inc.
About Material Technologies, Inc.
Material Technologies, Inc. is an engineering, research and development company specializing in technologies to measure microscopic fractures and flaws in metal structures and monitor metal fatigue in real time. The company's leading edge metal fatigue detection, measurement and monitoring solutions can accurately test the integrity of metal structures and equipment including bridges, railroads, airplanes, ships, cranes, power plants, mining equipment, piping systems and heavy iron. For more information about Material Technologies, Inc, please visit its website at http://www.matechcorp.com/.
About UTEK Corporation
UTEK® is a specialty finance company focused on technology transfer. UTEK's services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B®. In addition, UTEK offers companies the tools to search, analyze, and manage university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom, and Israel. For more information about UTEK, please visit its website at http://www.utekcorp.com/.
FCMN Contact: matech@att.net
Source: Material Technologies, Inc.
CONTACT: Material Technologies, Inc., +1-310-208-5589, matech@matechcorp.com
Web site: http://www.matechcorp.com/
http://www.utekcorp.com/
