Competitive Technologies, Inc. has signed an agreement with Cutting Edge Technologies LLC (CET) to commercialize and grant licenses for CET's patented Accelerated Steel Cutting (ASC) technology. The ASC technology, with a specifically designed and modified track torch, uses high-pressure propane and oxygen to cut steel at a rate up to four times faster than current methods, increasing operating efficiency and lowering costs.

"The ASC technology presents a major global market opportunity especially in the $20 billion shipbuilding industry," said Suzanne N. B. Alent, CTT's VP Marketing and Business Development. "This technology allows CTT to capitalize on its strong global network in an industry that includes the countries of China, Japan and Korea, where CTT has significant alliances. We expect ASC to be a successful addition to our portfolio, with strong revenue opportunities going forward."

"With this license agreement, CET hopes to expand its strong customer base beyond domestic companies such as Georgia Pacific, Norfolk Southern, Steel America, Metro Machine and North Florida Shipyards," explained Aleks Kuzminska, CET's VP Marketing and Sales. "CET is confident that CTT will successfully commercialize the technology with foreign corporations, and that various multinational cryogenic suppliers will leap at a chance to obtain this vastly different ASC technology."

Using Illinois-based CET's patented oxyfuel steel cutting technology allows a worker to cut ½-inch mild steel at a rate of at least 11 feet per minute, allowing man-hours associated with steel cutting operations to be slashed by at least 75%. The method is safer than conventional methods and can easily be taught to unskilled workers. Rust, paint and coatings do not impact the process and a gloved hand rather than machine grinding can remove the minimal slag that is left behind, thus providing further cost savings for the users. The technology can be used in a rough or final cut mode.

"CTT's business strategy is to find technologies that fulfill the needs of its customers," said John B. Nano, CTT's President and CEO. "The ASC technology allows us to offer a new technology, and speeds up the time-to-market competitive advantage for our customers. This strategy has allowed us to bring CTT to profitability. We have an extensive portfolio of quality technologies and strong global alliances. This combination has created a recurring revenue stream for CTT, strengthening shareholder value."

Cutting Edge Technologies LLC is a limited liability company based in Peru, Ill., that provides contract metal cutting services and licenses the technology. Additionally, CET provides consulting expertise for improving manufacturing cutting processes and advanced training. Licensees who have implemented the patented technology gained a significant competitive advantage over their competition in heavy industries.