Los Angeles, CA-- July 11, 2006—Material Technologies, Inc. (OTC BB; MTNA.OB - News) ("MATECH") recognizes the severe storms that caused major damage to infrastructure in several Northeastern states last month highlight transportation authorities’ need for technology solutions to accurately measure the integrity of bridges. MATECH’s innovative metal fatigue detection tools are capable of assisting state Departments of Transportation to assess damage to critical metal structures, prioritize repairs, and optimize use of available funds for maintenance and reconstruction. MATECH is executing marketing campaigns targeting bridge engineers at state DOTs to underscore the benefits of using its patented Electrochemical Fatigue Sensor™ (EFS) to detect and measure growing cracks in bridge infrastructure.
In the last week of June some of the worst rain and flooding in decades hit the Northeastern United States, causing major damage to infrastructure and loss of life across Pennsylvania, Delaware, New York, New Jersey, Maryland, Virginia and Washington DC. Officials closed 10 bridges connecting New Jersey and Pennsylvania because of high water. Northeast of Binghamton, NY, a raging Carrs Creek cut through an Interstate 88 bridge, opening up a jagged gap that killed two drivers. Amtrak railroad service in much of the western part of New York remained shut down during the storms. The federal government declared eight New York counties disaster areas; Chenango County gave an early estimate of $32 million in damage to infrastructure alone.
MATECH CEO Robert M. Bernstein commented: “Our patented EFS tool can detect, measure and monitor growing cracks in metal bridges, sign structures and railroad assets. MATECH’s technology offers transportation authorities a highly accurate, non-destructive testing method to help determine whether critical structures are sound and which repairs are most urgent. Our hearts go out to those displaced and injured by these severe storms, and we are proud to be able to provide technology that can be used to ensure the safety of our nation’s infrastructure.”
The Transportation Equity Act set aside funds for states to test devices capable of finding growing cracks in bridges as small as 0.01 inches in length and under the surface. MATECH’s EFS is the only non-destructive testing device able to find growing cracks that small. This information enables bridge engineers to detect and measure fatigue cracks, prioritize repairs, verify that fixes are effective in halting fatigue damage, and preserve structural integrity.
To date MATECH has received serious interest from several DOTs including Pennsylvania and Massachusetts. In June the company was contacted by additional state transportation agencies requesting information about EFS and is arranging meetings with key decision makers. Based on their positive feedback MATECH is accelerating its sales and marketing efforts, executing campaigns targeting bridge engineers at state DOTs who it believes are most in need of effective tools for metal fatigue detection.
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 |
