JOHNSTOWN, Pa., March 7, 2012 /PRNewswire/ -- Concurrent Technologies Corporation (CTC) and Renewable Manufacturing Gateway (RMG) have formed, via a Memorandum of Understanding (MOU), a strategic alliance focusing on recruiting new companies to locate manufacturing operations in Western Pennsylvania. The combined strengths of the two not-for-profit organizations offer a unique blend of business and technical capabilities that can mold new businesses into manufacturing centers of excellence within the Western Pennsylvania region and contribute to the success of new businesses.
CTC's engineers, scientists, and subject matter experts will provide research, development, demonstration and prototyping capabilities, as well as facilities and equipment that are needed to guarantee cost-effective manufacturing, enabling the new businesses to achieve success. RMG will assist new businesses in attaining necessary working capital, creating financial models, and developing investment opportunities, deploying its financial experts to augment the staffs of the new businesses.
"After carefully examining the regional capabilities that RMG could access for research, development and demonstration related support, we recognized that CTC has the experience, relationships, facilities and business alignment we were seeking," said Enzo Zoratto, RMG's Chief Operating Officer. "Together our companies will offer clients the full range of technical, financial and management services to help them commercialize their technologies and migrate to full-scale and sustainable operations. The recent MOU signed between CTC and the U.S. Department of Energy's National Energy Technology Laboratory further illustrates CTC's proven technical capabilities and reputation of being an unbiased supporter and technology transfer agent for small businesses and new industry endeavors."
"This is an alliance that will have a significant impact on fostering an environment for, and providing opportunities for, more manufacturing entities to move into and be successful in the Western Pennsylvania region," said Frank Cooper, CTC's Senior Vice President and Chief Technical Officer. "The CTC/RMG alliance brings an integrated business model to this region by establishing a single organization that provides the full spectrum of technology proof-of-concept, strategic business development and capital introduction services for all stages of research, development and commercialization."
Markets targeted by the CTC/RMG strategic alliance include natural gas, water, solar, wind, alternative fuels, and environmental enhanced materials. Diverse technologies are anticipated to be developed by the alliance, including wind turbines, renewable hybrid systems, bio-fuels and fuel additives.
About Concurrent Technologies Corporation
Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied scientific research and development professional services organization providing innovative management and technology-based solutions to government and industry. As a nonprofit 501(c)(3) organization, CTC's primary purpose and programs are to undertake applied scientific research and development activities that serve the public interest. For more information, visit www.ctc.com.
About Renewable Manufacturing Gateway
Renewable Manufacturing Gateway (RMG) is a nonprofit organization whose mission is the creation of manufacturing and other well-paying jobs within 100 miles from Pittsburgh, PA in the Renewable Energy and Clean Technology industries. RMG identifies existing or new companies within or outside the region, determines if such companies are appropriate for managerial and financial support, and executes discrete investment strategies that result in the growth of the companies and creation of quality jobs in the region. For more information, visit www.renewmfg.org/.
SOURCE Concurrent Technologies Corporation