FAIRFIELD, Conn., April 23, 2007 (PRIME NEWSWIRE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it has signed an exclusive worldwide agreement with Dr. Branimir (Barney) Simic-Glavaski to license and commercialize his patented Molecular Information/Large-Scale Memory Devices. The agreement provides for revenue sharing between CTT and Dr. Simic-Glavaski of royalty and licensing payments.
This remarkable technology portfolio, U.S. Patent Nos. 7,136,212, and 6,937,379 and related foreign patents, enable computers to function at a much greater speed and competence than is currently available through today's semi-conductor processing methods. The processing speeds can be up to 100 times than current conventional mainframe computers, and the processing power can be up to one million times greater than what is currently available. The Simic devices consume a very small amount of energy when information is manipulated or created, thus allowing them to efficiently and effectively generate and carry significantly greater amounts of information. Applications include any systems that require large-quantity processing of data, such as life science applications, financial services systems, telecommunications installations, and aeronautics and military uses.
"CTT believes that this innovative technology can accelerate the growth and potential of the microelectronics industry," said John B. Nano, CTT's Chairman, President and CEO. "There are endless possibilities to the advancements it can produce just in healthcare, environmental, and military applications, including analysis of genome studies, DNA molecule biosensoring and weather and greenhouse effects. This is an example of CTT finding a superb technology that fulfills unsatisfied technology needs and bringing it to market to create revenue and strengthen shareholder value."
The technology for the Simic devices allows the observable changes in electrical and optical characteristics caused by electrical and/or optical stimulation or destimulation of electrons of individual molecules. These molecules are adsorbed on a conductor or semi-conductor and are used to carry signals that in turn can be used to carry information. The ability of the information-carrying changes to be switched, amplified and modulated to alter the functional behavior of the molecular devices allows for its multiple capabilities.
"These devices operate in excess of one million billion FLOPS (Floating point Operations Per Second) or peta FLOPS, and generate extremely low levels of heat," commented Dr. Simic-Glavaski. "The performance and capabilities of the devices will challenge the current functional properties of many classic large-scale and super-computer devices."
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider 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, electronic, nano, and physical sciences developed by universities, companies and inventors. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders. Visit CTT's website: www.competitivetech.net
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