Archive for January, 2010
Bedford, MA, December 15, 2009-
The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) announced today that it has selected a project proposed by a joint venture led by wTe Corporation for funding under the NlST Technology Innovation Program (TIP). The new $11.5 million research project will develop advanced sensor technologies to recycle aerospace metals such as titanium and nickel-cobalt superalloys. Scott Mellen, wTels President and CEO, said that, “wTe and our partners are very pleased to be selected on such an important strategic project targeted at developing technologies that are essential to the long-term manufacturing competitiveness of the United States.” The project was a response to TIP’S solicitation to address a Critical National Need: “Accelerating the lntegration of Materials Advances into Manufacturing Processes.”
wTe Corporation, together with its two joint venture partners, National Recovery Technologies, Inc. and Energy Research Company will develop, scale-up and integrate transformational technologies for high-speed scrap sortation of mixed machining chips and small solids by alloy type, and for real-time, molten metal analysis of high-temperature alloys. The project, titled “Building U.S. Strategic Metals Competitiveness Through lntegration of Advanced Sensor Technologies,” will apply Spectramet and Melt Cognition technologies (proprietary advanced compositional sensor technologies). The Spectramet Technologies accurately identify and automatically sort aerospace metals such as titanium and nickel/cobalt superalloys at ultra-high speeds so they can be recycled more cost effectively. The Melt Cognition Technologies enhance capacity for existing melting furnaces by measuring composition in real time at high temperatures.
Dr. David Spencer, wTe’s Chief Technical Officer, added that “the project will reduce the amount of recycled aerospace metal that is downgraded to inferior product applications so that this very valuable scrap metal can be recycled into its highest value, namely so it can be used again as clean alloy feedstock for making new aerospace parts.” As a result of this project, Spencer suggests that there will be less United States dependence on supplies of strategic virgin metals recovered at primary refineries from ore (most of which are purchased abroad), there will be substantial energy savings from use of scrap rather than ore and virgin metals, and there will be greatly reduced emissions because secondary smelting consumes much less energy than primary production followed by remelting.
It is critical that the United States remain competitive in manufacturing of advanced aerospace materials because these materials are necessary for national defense (fighter jets, armored vehicles and tanks), jet engine manufacturing and for the aircraft industry in general. Moreover, aerospace products have consistently produced large trade surpluses for the United States since the 1990s.
wTe Corporation is a technology-driven recycling company located in Bedford, MA. The Company operates downstream plastics and metals recycling and refining operations in several locations in North America. Spectrameta LLC, a joint venture with National Recovery Technologies, Inc., Nashville, TN, targets high speed sorting of various high value non-ferrous metals using a revolutionary approach. Melt Cognition” LLC, a joint venture with Energy Research Company, Staten Island, NY and Materials Strategies, Inc., Worcester, MA, promotes development and sale of optoelectronic equipment for continuously measuring liquid metal composition and controlling melt chemistry on-line.
The NlST Technology Innovation Program supports innovative, high-risk research in new technologies that address critical national needs. The merit-based, competitive program provides costshared funding for research projects by single small-sized or medium-sized businesses or by joint ventures that also may include institutions of higher education, nonprofit research organizations and national laboratories.
Contact: Scott Mellen, CEO and President
(781)275-6400 x 107
wTe Corporation Wins $11.5 Million Project Through NlST TIP Program
The U.S. Department of Commerce's National Institute of Standards and Technology (NIST) announced today that it has selected a project proposed by a joint venture led by wTe Corporation for funding under the NlST Technology Innovation Program (TIP). »
AspenTech Software and Services Implementation Also Helps Korea’s Largest Chemical Company Achieve Operational Excellence Goals
BURLINGTON, Mass. – January 5, 2010
Aspen Technology, Inc. (OTC: AZPN.PK) today announced that LG Chem’s deployment of aspenONE Advanced Process Control has resulted in $4 million of annual operational savings, while also helping the chemical
company achieve its operational excellence goals.
Mr. CS Chung, Vice President of LG Chem, Ltd
“AspenTech helped us successfully implement aspenONE APC and achieve our operational excellence goals within a limited budget and timeline. We achieved savings of approximately $4 million US annually through better throughput, energy savings and yield improvement.”
IJ Park, Country Manager, AspenTech Korea
“LG Chem’s selection of AspenTech reinforces our relationship as a trusted technology partner. The completion of this project is a major milestone, but it represents just the beginning of the type of results LG Chem will realize.”
Henry Lau, Senior Vice President & Managing Director for APAC, AspenTech
“We are very proud that LG Chem was able to achieve a return on investment within their desired timeframe. This is a strong demonstration of AspenTech’s superior technology and know-how, as well as outstanding project execution by our experienced professional services team. I am confident that the close collaboration between AspenTech and LG Chem project and senior management teams will result in additional successful projects that deliver value and impact to LG Chem’s bottom line.”
Links to more information:
About LG Chem
LG Chem is Korea’s first and largest vertically integrated chemical company. Founded in 1947, LG Chem has emerged as Korea’s #1 chemical maker over the past six decades by consistently innovating to deliver the petrochemicals and information and electronic materials that improve the quality of life for people everywhere. To find more information on LG Chem, visit www.lgchem.com.
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, pharmaceuticals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers
are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world’s leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com.
Aspen Technology (Asia) Inc.
Sarah Suh (Ms)
Field Marketing Manager, Korea
+82 2 3779 5812 (Office)
+82 11 9116 0049 (Mobile)
Aspen Technology, Inc. (HQ)
LG Chem Saves $4M Annually Using AspenTech’s aspenONE Advanced Process Control Solution
Aspen Technology, Inc. (OTC: AZPN.PK) today announced that LG Chem’s deployment of aspenONE Advanced Process Control has resulted in $4 million of annual operational savings, while also helping the chemical company achieve its operational excellence goals. »
Mass. Capital is pleased to recognize its portfolio company, Exergen, whose temporal thermometer was recently selected as one of 24 “Smartest Products of the Decade” by Inc. magazine, which stated “These products revolutionized the way we spend our time — technologically, culturally, and beyond.” The Exergen TemporalScanner, a breakthrough innovation in medical thermometry, takes accurate temperature measurements with a gentle forehead scan.
“It is quite an honor to be included in a short list with iPod, Netflix, Blackberry, Google, Jet Blue, and other well known highly successful innovations,” said Exergen Corporation founder and CEO Francesco Pompei, Ph.D. “To be recognized with such an honor is a testament to the TemporalScanner’s accuracy and gentleness, to all the hard work of everyone who contributed to its success, and especially to our millions of customers who offered us the opportunity to succeed. “We have been fortunate to be recognized with a number of accolades for the TemporalScanner that were earned over years of hard work. These include the New England Innovation Award in 2002, the Greater Boston Chamber of Commerce Award in 2006, and this year’s Most Valuable Product Award by a nursing organization.”
Exergen markets two models of the TemporalScanner thermometer: a professional model for doctors’ offices and hospitals, and a consumer model sold in major retailers including Wal-Mart, Target, Walgreen’s, Costco, Sam’s Club, Babies “R” Us, Toys “R” Us, and BJ’s. More than 600 million temperatures are taken each year with the TemporalScanner. Used in two-thirds of hospitals and half of pediatricians’ offices in the country as well as in millions of homes, it is also the only thermometer manufactured in the United States. Exergen Corporation is recognized worldwide as an innovator and leading manufacturer of patented infrared thermometers, scanners, sensors and controls. The company holds more than 100 U.S. and international patents for non-invasive thermoregulatory devices. Its products are used in a wide variety of industrial and medical applications for both professionals and consumers. For additional information, visit www.exergen.com.
January 2010 Newsletter
Mass. Capital is pleased to recognize its portfolio company, Exergen, whose temporal thermometer was recently selected as one of 24 “Smartest Products of the Decade” by Inc. magazine, which stated “These products revolutionized the way we spend our time -- technologically, culturally, and beyond.” »