Los Angeles, CA - February 28, 2007
- PRNewswire-FirstCall via COMTEX/ -- Material Technologies,
Inc. (OTC BB; MTTG.OB - News)
("MATECH" or "the Company"), announced
that the Pennsylvania Department of Transportation (PennDOT),
following MATECH’s successful non-destructive testing
of three bridges in Pennsylvania at their request, has prepared
an on-call contract with MATECH for the entire state.
PennDOT had engaged MATECH to use its Electrochemical Fatigue
Sensor™ (EFS) for special inspections of the three bridges,
each of which were part of interstate highways in diverse areas
of the State.
At a meeting late last year with PennDOT to discuss the results
of these inspections, the officials were so impressed with the
work and the cost effectiveness of the results that they ordered
an on-call contract with MATECH for the entire state. With only
inspecting three bridges in the state, they believe MATECH has
already saved them on the order of $50,000, and most likely avoided
the closure of one of their main bridges (saving even more money
and potentially the lives of their citizens). Because the EFS
can find growing cracks and an indication of their rate of growth,
PennDOT told MATECH they can sleep better at night knowing if
a known crack is growing or not.
MATECH’s Electrochemical Fatigue Sensor (EFS) technology
can find growing cracks in the bridges, including cracks below
the surface, as small as 0.01 inches. This critical information
will allow the State’s bridge engineers to fix the specific
bridges in most need of repair. Using EFS, the engineers will
also be able to verify that repairs are effective in halting
further fatigue crack growth, by determining that previously
repaired fatigue cracks are no longer growing. Being able to
prioritize needed repairs, the State can realize significant
cost savings. It can also repair the most critical bridges sooner,
eliminating the need to restrict the weights of some trucks and
most important, minimizing adverse economic impacts.
MATECH has recently received a great deal of interest from federal
and state agencies, following the passage of the $286 billion
Federal Transportation Bill, which included funds to help states
evaluate nondestructive methods such as EFS to detect growing
fatigue cracks in steel bridges.
MATECH CEO Robert M. Bernstein commented: “We are extremely
pleased that ten years of diligent research has finally allowed
us to take the company to the next level, and we are confident
that this should be the first of many revenue streams to come.
The State of Pennsylvania alone has 3500 steel bridges, of which ½ must
be inspected every year. This could lead to a very substantial
annual contract in Pennsylvania.”
About Material Technologies, Inc. (MTTG.OB)
MATECH 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.
MATECH owns the only non-destructive testing technology able to find growing cracks as minute as 0.01 inches—critical information that allows structural engineers to isolate and repair the more than 100,000 steel bridges in the U.S. which have been classified as structurally deficient or functionally obsolete by the Federal Highway Administration. MATECH has exclusive rights to seven patents along with $8.3 million in already completed contracts from the US Government for research, testing and validation of its innovative solutions.
To hear more about MTNA from CEO/President Robert M. Bernstein go to:
http://www.publiccoreport.net/featured/MTNA/company.asp
Forward-Looking Statements:
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely" and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's recent Form 10-K and Form 10-Qs, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Contact:
Robert M. Bernstein
Material Technologies, Inc.
1.310.208.5589
matech@matechcorp.com |