Material Technologies, Inc. Acquires License for a Structural Damage Assessment System
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LOS ANGELES, May 2 / -- Material Technologies (OTC Bulletin Board: MTTG) ("MATECH") a company that engages in the research and development of technologies to monitor and measure metal fatigue, today announced that they have acquired Damage Assessment Technologies, Inc., a wholly owned subsidiary of UTEK, a specialty finance company focused on technology transfer, in a stock transaction.
Damage Assessment Technologies, Inc. holds an exclusive worldwide license for a structural damage assessment system, which was developed at the University of South Carolina. The system utilizes embedded ultra-sonic sensors connected to lightweight analyzers to perform active structural monitoring. The sensors provide data to analyzers, which is then compared to a database of past structural characteristic data to determine potential flaws in the structure.
"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 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 www.utekcorp.com.
Material Technologies, Inc.
1-310-208-5589
matech@matechcorp.com
www.matechcorp.com
Source: Material Technologies, Inc.
CONTACT:Material Technologies, Inc., +1-310-208-5589, matech@matechcorp.com
Web site: www.matechcorp.com/
http://www.utekcorp.com/
