FAIRFIELD, Conn., April 7, 2003 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it is licensing a new vehicle rollover warning technology to warn drivers when driving behavior or conditions place their vehicles at high risk of a rollover accident. CTT will be issuing licenses for the original equipment vehicle market and for vehicle rear-view mirror upgrades in the replacement market.
"Rollovers accounted for about 10,000 deaths, or 32%, of passenger-vehicle occupant fatalities in 2001 but rollover accidents were only 3% of 10.7 million passenger-vehicle crashes National Highway Traffic Safety 2001 figures show. Meanwhile, auto industry executives, federal regulators, and drivers worldwide are seeking ways to minimize rollover accidents and deaths," J. Scott Bechtel, VP Technology Commercialization of CTT, said. "We believe our technology, designed by Craig Carlson, will help reduce this staggering number of 10,000 fatalities annually."
The micro-electromechanical system (MEMS) vehicle rollover technology senses dangerous vehicle driving conditions in order to warn the driver of imminent rollover danger. In a true off-road driving environment, the system will also detect dangerous tilt and inclination levels to help drivers avoid crossing unsafe terrain. The low cost, yet sophisticated sensor and electronics fits inside the vehicle's rear-view mirror. The new technology works in all vehicles, including SUVs, motor homes, heavy trucks and off-road vehicles.
"This life-saving technology is another example of CTT's ability to find answers to the needs of the market. We access technologies from hundreds of universities, corporations, and independent researchers to find high-demand technology-driven solutions for industry and consumers. We know that vehicle rollover continues to be a major concern of the automotive industry, insurance industry, government safety regulators and Senate Bill 717. We selected Carlson's rollover warning technology because it was the most reliable, safest, and most cost effective solution available," said John B. Nano, President and CEO of CTT.
Additionally, CTT is commercializing Carlson's emergency-stop warning system that is built into the vehicle's rear center high mounted stop lamp (CHMSL). The emergency CHMSL system automatically senses rapid vehicle deceleration and signals the emergency braking condition to drivers following the stopping vehicle. Competitive Technologies is hoping the inexpensive new "ECHMSL" or "emergency CHMSL" will be required on all vehicles to dramatically reduce the number of rear-impact collisions.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is focused on the technology needs of its customers and transforming those requirements into commercially viable solutions. CTT is a global leader in identifying, developing and commercializing innovative technologies in life, digital, nano, and physical sciences developed by universities, companies and inventors. The company estimates the global market opportunity for technology transfer services at $150 billion annually. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders. Visit CTT's website: http://www.competitivetech.net
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties, including those set forth in Item 1 of the Company's most recent Form 10-K and in CTT's other filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.