Los Angeles, CA - June 27, 2007
-- Material Technologies, Inc.
(OTC BB; MTTG.OB - News)
("MATECH") announced that the Utah Department of
Transportation (UDOT) is in discussions concerning possible
use of its patented Electrochemical Fatigue Sensor (EFS) technology
to inspect bridges in the state. An EFS inspection was performed
on a key bridge in the state last fall.
Of the state’s 840 steel bridges, 105 are considered structurally
deficient and another 90 functionally obsolete. (Data as of year
end 2006.) Each of these bridges must, by federal law, be inspected
every two years, but if there are apparent problems the inspections
may be more frequent. The potential annual revenue only from
these structurally deficient and obsolete bridges from EFS inspections,
at an average cost of $15,000 per inspection, competitive with
other inspection technologies, could be about $1.46 million.
The potential annual revenue from all the state’s steel
bridges is $6.3 million.
The inspections are mostly visual, done by inspectors using
binoculars. This is not an adequate means of inspection, since
90 percent or more of the cracks that are growing are completely
missed with visual inspection alone, according to the Federal
Highway Administration. For comparison the fifty states of the
US as a whole have 190,000 metal bridges, with 39,000 structurally
deficient and 35,000 functionally obsolete.
MATECH’s EFS measures the activity of growing cracks in
metal bridges under ordinary traffic conditions, similar to the
way an EKG monitors the heart. It has proven a very reliable
way to determine whether an observed crack in a metal structure
is growing or not. A growing crack is an indicator of fatigue
damage, and calls for a means of halting the growth by a repair
or bridge member replacement or adding local support. A non-growing
crack can be safely ignored.
Robert M. Bernstein, MATECH’s CEO says “MATECH has
performed close to twenty field tests on actual highway and railroad
bridges around the country, and we have every confidence that
our EFS can save many repair and rehabilitation dollars by its
timely use, as well as avoiding lane and bridge closures which
can have a devastating effect on local commerce, not to mention
avoiding potential tragedies of bridge failures.”
These potential EFS inspections will be used to demonstrate
to UDOT officials the efficacy of using this technology on fatigue
sensitive steel bridges to determine the status of known structural
cracks, and to allow an estimate to be made of potential savings
by using EFS to prioritize needed repairs. Its history and reliability
in detecting growing cracks are well established.
About Material Technologies, Inc. (MTTG.OB)
MATECH is an engineering, research and development company specializing
in technologies to monitor metal fatigue in real time. The company's
leading edge metal fatigue detection and monitoring solutions
can accurately test the integrity of metal structures and equipment
including bridges, railroads, airplanes, ships, cranes, power
plants, mining equipment, and heavy iron.
MATECH owns the only
nondestructive testing technology able to find growing cracks
as minute as 0.01 in.-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 MTTG 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 |