Johnstown, PA, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Concurrent Technologies Corporation (CTC) has received funding from a Pennsylvania state grant for the development of key technologies. The $1.9 million Department of Community and Economic Development grant will provide funding to support three technical areas.
Through the grant, CTC will continue to develop and implement advanced manufacturing technologies in support of next-generation small modular nuclear reactors and legacy systems associated with operational nuclear power plants. The grant also will enable CTC’s continued work to provide small- to medium-sized Pennsylvania businesses with assistance in developing processes and procedures associated with achieving and maintaining compliance with cybersecurity standards.
In a new initiative, CTC will work to prove the feasibility of applying a patented high-temperature technology to extract rare earth elements (REEs) from coal-based sources.
REEs are critical to the production of national defense weapons systems, electronics, advanced motors, power generation equipment, automobiles and more. This technology, if successful in this application, could lead to the development of a domestic supply chain of REEs and create quality jobs in Pennsylvania, as private investors would potentially fund production facilities that would utilize this process on a large scale. In creating a domestic supply of REEs, our nation would not be reliant upon foreign providers of REEs, thereby strengthening the nation’s economic potential and enhancing its national security. In addition, this process would aid in eliminating some of the spent coal residuals which can be environmentally hazardous.
“We are pleased to conduct this important and relevant research and development that could create rewards for our Commonwealth and the nation if this technology solution is proven to be feasible,” said Edward J. Sheehan, Jr., CTC President and CEO. “CTC is based in Pennsylvania, where spent coal resources are abundant for this technology. We have already been collaborating with some of the larger power plants in western Pennsylvania who possess some of the spent coal byproducts. And our experienced and knowledgeable engineers are leading the effort to leverage patented technology to extract a very valuable constituent from otherwise unusable industrial byproducts.”
Pennsylvania Senator Wayne Langerholc, Jr., (R-35), added, “I am pleased to help secure funds for a technology leader such as CTC to develop what could be a significant benefit to our state economy and our nation’s military readiness and national security. CTC’s 35-year track record of success and strong leadership in technology transition, along with this region’s natural resources, create the perfect opportunity to develop this innovative capability.”
Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied scientific research and development professional services organization. CTC collaborates with its technology transition affiliate, Enterprise Ventures Corporation, to provide transformative, full lifecycle solutions through research, development, test, and evaluation work. To best serve our clients’ needs, we offer the complete ability to fully design, develop, test, prototype and build. We deliver robust, technical, and innovative solutions that safeguard our national security, retain U.S. technological advantage, and ensure the primacy of American manufacturing. For more information about CTC, visit www.ctc.com.
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Mary Bevan Concurrent Technologies Corporation 814-269-2490 bevanm@ctc.com
