Competitive Technologies Licenses Laser Diode Technology to Matsushita
Increasing Demand for High Performance Laser Diodes Expected to Significantly Increase CTT s Retained Royalties
Fairfield, Conn. Competitive Technologies, Inc. (AMEX: CTT), today announced it has successfully negotiated and executed a non-exclusive license to Semiconductor Company, Matsushita Electronics Corporation to use CTT s high power laser diode technology. Semiconductor Company, Matsushita Electronics Corporation is better known in the United States by its brand name Panasonic(R).
CTT s technology provides the ability to increase the performance and durability of high-powered lasers used in high power optical storage devices, such as DVD drives, and thus solves the common problem of low reliability during long-term operation.
Frank McPike, President of CTT stated, "We are pleased to add Semiconductor Company, Matsushita Electronics Corporation to our list of licensees for the laser diode technology. CTT continues its aggressive program to license companies requiring high power durable lasers as storage requirements increase in a wide variety of devices. We expect this technology to provide significant revenue growth over the next few years."
Market growth for DVD-RAM drives, worldwide is expected to grow from 200,000 units in 1998 to 9 million units in the year 2000. Drives for DVD-RAM have begun making their appearances at retail outlets for as little as $500. These drives can record and re-record, or rewrite data onto DVD drives.
Background
The laser diode technology invented in the 1980s at the University of Illinois at Urbana-Champaign, known as impurity induced layer disordering, or disordering, was invented and developed in the laboratory of Professor Nick Holonyak. Professor Holonyak is a recipient of the highly prestigious Japan Prize, awarded by the science and technology foundation of Japan to scientists and researchers who make original and outstanding contributions to science and technology.
Disordering technology involves the introduction of disordering substances into layers of a III-V (e.g. gallium arsenide) semiconductor structure to convert the layers into an "alloy" having important electronic properties.
The aggressive licensing program for the technology will allow the burgeoning laser diode industry to benefit from the efficient manufacturing of laser diodes exhibiting enhanced performance and durability for use in DVD players and other optical storage equipment. CTT s high power laser diode technology is covered by a portfolio of patents, the last of which will expire in 2004.
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies specialized expertise and experience make it a valuable partner for companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients include: SONY, Lucent Technologies, Matsushita Electric Industrial and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
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 related to market acceptance of and competition for the Company s licensed technologies and other risks and uncertainties inherent in CTT s business, including those set forth in Item 1 of the Company s Form 10-K for the year ended July 31, 1999 and other factors that may be described in CTT s 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.
Contact:
Strategic IR, Inc.
Johnnie D. Johnson; Tel: 212/754-6565;
jdjohnson@strategic-ir.com
or
University of Illinois at Urbana-Champaign
Jeffry Unger; Tel: 217/333-6248;
bjovak@uiuc.edu
www.uiuc.edu
or
Competitive Technologies, Inc.
John W. Fitzpatrick; Tel: 203/255-6044; CTT@CompetitiveTech.net
www.CompetitiveTech.net
Johnnie D. Johnson; Tel: 212/754-6565;
jdjohnson@strategic-ir.com
or
University of Illinois at Urbana-Champaign
Jeffry Unger; Tel: 217/333-6248;
bjovak@uiuc.edu
www.uiuc.edu
or
Competitive Technologies, Inc.
John W. Fitzpatrick; Tel: 203/255-6044; CTT@CompetitiveTech.net
www.CompetitiveTech.net
E-mail: CTT@CompetitiveTech.net
Web site: http://www.CompetitiveTech.net
