FAIRFIELD, Conn., April 24, 2003 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today a commercialization program designed to license its patented new brake light emergency-stop warning system. CTT is issuing licenses to original equipment manufacturers and to aftermarket firms for the new electronic vehicle safety device.
J. Scott Bechtel, CTT's VP Technology Commercialization, said, "In 2001, 2.4 million rear-impact crashes, 22% of 10.7 million passenger-vehicle crashes, accounted for about 1,300 passenger-vehicle occupant fatalities. Additionally, the 2.4 million rear-impact crashes caused billions of dollars in property damage and personal injury losses."
The emergency-stop warning system is completely self-contained within the existing center high mounted stop lamp (CHMSL) currently required on all cars. This new system senses an emergency stop vs. normal braking by measuring the g-forces on the vehicle during braking. When these forces exceed an emergency threshold, the system signals the emergency braking condition using alternating left-right flashing lights located at the outer ends of the CHMSL. As required by US Department of Transportation regulations, the center portion of the CHMSL remains illuminated during the entire braking cycle as it does for normal braking.
The system will work equally well whether the emergency-stop takes place on a steep hill or a level surface. The CTT technology, designed by Craig Carlson, holds a unique advantage over related technologies because its accelerometer and processor measure vehicle inclination and automatically recalibrate to account for hills or slopes. Carlson's patented system is the only emergency-stop brake light offering this unique error-correcting sensor.
"Life-saving technologies are another example of CTT finding answers to the needs of the market," according to John B. Nano, CTT's President and CEO. "Clearly, rear-impact collision reduction is an example of the type of problem that can be mitigated using simple inexpensive technology. There is an urgent need for these kinds of technologies and they serve very large markets. CTT selects the best solutions for commercialization from hundreds of technology sources including leading universities, corporations, and independent researchers."
CTT also offers licenses for a vehicle rollover technology that senses dangerous driving conditions or excessive vehicle incline and warns the driver of imminent danger. The low cost sophisticated sensor and electronics technology fits inside the vehicle's rear-view mirror. The new technology is applicable to all vehicles, including SUVs, motor homes, heavy trucks and off-road vehicles.
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.