FAIRFIELD, Conn., Sept. 25, 2007 (PRIME NEWSWIRE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that an agreement has been signed with ADI Corporation for exclusive worldwide rights to license and commercialize their patented technology for a Radio Alert Emergency Warning System. The technology is a dual-mode transmitter capable of short-range interruption of commercial radio broadcasting received by vehicles. The transmitter reaches vehicle drivers with a message broadcast over their operating radio to alert them of an oncoming train or emergency vehicle, or of an emergency vehicle in place before them on the road. The agreement provides for royalty and license fee sharing between ADI and CTT.
"We believe that this technology can play an important part in today's emergency and security sensitive environment," said Ted Kutrumbos, CTT's Business Development Executive. "With the multitude of railroad crossings throughout the country and the world, and the onset of high-speed trains, it is important to promptly and successfully alert drivers of an approaching train. The same is true for alerting drivers of a first-responder vehicle traveling to, or which has already arrived at an emergency. In the case of either railroads or emergency vehicles, a message overrides regular radio broadcasting, AM or FM, being listened to by the driver, and replaces it with a specific emergency message. We have all seen an ambulance or fire truck attempting to get through a line of traffic. This technology allows the emergency vehicle to activate its warning system and broadcast a message to the drivers. The vehicle drivers will not be able to disregard the emergency alert that might otherwise be masked by their car radio. We believe that the life-saving ramifications of this technology are immeasurable."
The agreement with ADI is for the patented invention of George E. Derome, under U.S. patent nos. 7,164,892, 7,110,731 and 7,107,023. Mr. Derome, a retired Massachusetts State Trooper, was seriously injured in an incident where he had responded to an accident. The idea for this technology was formed at that time. The warning system would have allowed Mr. Derome's first-responder emergency vehicle to broadcast a message alerting all approaching vehicles of the accident ahead.
"This is another example of a CTT technology fulfilling market needs," said John B. Nano, CTT's Chairman, President and CEO. "In addition to this new technology, we are aggressively marketing our recently acquired pain management technology and stress reduction technology, as well as our other technologies, including our HB LEDs, bone biomaterial, cholesterol trapping and regeneration, and Lupus diagnostic and monitoring, to drive revenue growth, improve profitability and create shareholder value. Our technology portfolio may be viewed on our website."
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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