Carpenter Technology, Manhattan Scientifics Partner to Commercialize Metal Alloys
09/22/2009 - Carpenter Technology and Manhattan Scientifics announce a joint technology agreement involving a new class of high-strength metals with applications in medical, aerospace, transportation, energy, defense, and consumer products.
Carpenter Technology Corp. and Manhattan Scientifics Inc. announced a joint technology agreement involving a new class of high-strength metals with applications in medical, aerospace, transportation, energy, defense, and consumer products.
Manhattan Scientifics holds the exclusive U.S. license for a number of patents to produce “super-strong” metals developed at the Los Alamos National Laboratory and in Russia. Carpenter will develop, manufacture, and market the new generation of advanced metals.
“Carpenter continues to forge ahead as the leading developer of stainless steels and specialty alloys,” said Anne L. Stevens, Carpenter’s Chairman and CEO. “Our relationship with Manhattan Scientifics will ultimately give us new, cutting-edge manufacturing techniques that we can apply to many of our alloys to service an increasing global need for high-strength materials.”
“Carpenter Technology Corp. is exactly the kind of industrial manufacturing partner that can bring our new class of metals to the broad market,” said Manhattan Scientifics’ CEO Manny Tsoupanarias. “The initial technology transfer payments along with eventual royalties from Carpenter will provide Manhattan Scientifics quick and sustained revenue, positive cash flow, and profitability beginning this year. This is a major breakthrough for our 8600 shareholders.”
Carpenter Technology Corp., based in Wyomissing, Pa., produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products.
Manhattan Scientifics’ business model capitalizes on inventions and technology from which profits may be earned primarily through licensing. Operations include identifying, developing, patenting, supporting, and marketing technical innovations by harvesting top technology talent to bring advanced technology to market.
