Los Angeles, CA-- June 20, 2006—Material Technologies, Inc. (OTC BB; MTNA.OB - News) ("MATECH") announced that the Departments of Transportation of several more states have expressed interest in its metal fatigue detection technology this month. MATECH is in the process of setting up meetings with the agencies to discuss the advantages of using its breakthrough Electrochemical Fatigue Sensor™ (EFS) to assess the structural integrity of their bridges.
Recently MATECH has completed reviews of three bridges at the request of Pennsylvania's DOT, and Massachusetts has submitted information on seventeen bridges throughout the state where fatigue damage is a primary concern. This month MATECH has been contacted by additional state transportation agencies to inquire about the EFS’s unique ability to detect minute, growing cracks in steel bridge infrastructure as well as in other metal structures which are subjected to cyclic loadings.
“Our proven metal fatigue detection solutions can find, measure and monitor tiny cracks in structural components with industry-leading accuracy. This data is critical to federal and state transportation agencies tasked with maintaining bridge safety,” said MATECH CEO Robert M. Bernstein. “As our sales and marketing efforts generate positive momentum, more potential customers are expressing interest. We are extremely pleased with the inquiries we have received so far and excited at the prospect of developing them.”
The $286 billion Federal Transportation Bill allocated $5 million to help states evaluate nondestructive methods such as EFS to test growing fatigue cracks in steel bridges. The Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU, enacted August 10, 2005) provides for increased transportation infrastructure investment and strengthened transportation safety programs.
The U.S. Department of Transportation's Fiscal Year 2007 Budget Request continues the funding for bridge safety, requesting $65.6 billion in budgetary resources to support major investments in transportation nationwide including $4.2 billion for bridge replacement, rehabilitation and preventive maintenance.
About Material Technologies, Inc. (MTNA.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 |
