FAIRFIELD and AVON, Conn., Nov. 26, 2007 (PRIME NEWSWIRE) -- Competitive Technologies, Inc. (AMEX:CTT) and Articulated Technologies, LLC today announced that they have signed an agreement for CTT to license and commercialize Articulated's patented organic light emitting diode (OLED) technology for adaptation to solar power. The agreement provides for revenue sharing between CTT and Articulated of royalty and licensing payments.
"CTT is positioning itself at the forefront of the paradigm shift in both energy and healthcare," said John B. Nano, CTT's Chairman, President and CEO. "The current environment of record-high costs in both energy and healthcare has driven CTT's strategy of exploiting the resulting dynamic opportunities. We are capitalizing on our contacts and broadening our base of innovative technologies that fulfill these opportunities. Articulated's portfolio of approximately 40 issued and pending patents fulfills those needs for alternative energy. The U.S. Department of Energy estimates that the Sun delivers more energy in one hour than the Earth's inhabitants use in one year. This portfolio of technologies allows us to put that energy to cost-effective and environmentally-friendly use."
John Daniels, Founder and Chairman of Articulated, said, "We believe this relationship allows us to move forward with the development and commercialization of our break-through technologies for use in solar panel applications."
In addition to the solar panel technology, Articulated is the innovative leader in logical, yet truly disruptive, technologies for roll-to-roll LED solid state lighting, OLED manufacturing, and device structures of thin film, flexible, light emissive materials in ILED (Inorganic Light Emitting Diodes) and OLED applications. These applications include lighting, signage, displays, and backlighting, and medical, automotive, architectural and safety products. Articulated also holds IP on new methods of packaging microelectronics and semiconductors, and on printed electronics.
Paul Levitsky, President and CEO of Articulated, said, "We are looking forward to working with CTT to bring our patented technologies to market and create revenue opportunities for both companies. The technology satisfies an important growing development in today's society for cost-effective clean energy."
Mr. Nano added, "This new solar panel adaptable technology, together with the group of LED technologies currently in our portfolio, further strengthens our ability to fulfill the demand for energy efficient technologies. We are also aggressively marketing technologies that embrace today's shift in the healthcare market, integrating the traditional and holistic methods of treating illness and pain. In addition to the MC Square stress reduction device (www.relaxmc.com), we are marketing our pain management therapy, UAD tubular-connection, bone biomaterial, and Lupus diagnostic and monitoring to drive revenue growth, improve profitability and create shareholder value. Our full technology portfolio may be viewed on our website."
About Articulated Technologies, LLC
Articulated Technologies, LLC, based in Avon, CT, is a dynamic, growing company focused on the development of logical, yet truly disruptive, new manufacturing technologies and methods, and device structures that span a diverse set of OLED solar, OLED and LED lighting, displays, printed electronics, backlighting, and LED solid state lighting solutions. Visit Articulated's website: www.articulux.com
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
Statements about our future expectations are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. When used herein, the words "may," "will," "should," "anticipate," "believe," "appear," "intend," "plan," "expect," "estimate," "approximate," and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business, including those set forth in Item 1A under the caption "Risk Factors," in our most recent Annual Report on Form 10-K for the year ended July 31, 2007, being filed with the SEC on October 29, 2007, and other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.