HydroFlo acquires Safety Scan Technology from UTEK
HydroFlo Inc., an international provider of proprietary technology and equipment used for the treatment and testing of water and wastewater, and UTEK Corp., an innovative technology transfer company, announced today that HydroFlo has acquired Safety Scan Technology Inc. (SSTI), a wholly owned UTEK subsidiary, in a stock transaction...
RALEIGH, NC, LOS ALAMOS, NM, & PLANT CITY, FL, Dec. 21, 2004 (BUSINESS WIRE) -- HydroFlo Inc., an international provider of proprietary technology and equipment used for the treatment and testing of water and wastewater, and UTEK Corp., an innovative technology transfer company, announced today that HydroFlo has acquired Safety Scan Technology Inc. (SSTI), a wholly owned UTEK subsidiary, in a stock transaction.
SSTI holds an exclusive license to a patented technology that can be used for the analysis of water to rapidly detect the presence of potentially harmful compounds using ultrasonic interferometry. Developed by researchers at the Los Alamos National Laboratory, the lightweight and portable system utilizes resonance of high frequency sound waves to detect compounds of interest. For example, even a sealed container of water may have its contents rapidly analyzed for potentially hazardous contaminants. The technology is capable of identifying a broad spectrum of substances and has been field-tested for a variety of other applications.
According to Dennis Mast, Chairman and CEO of HydroFlo, Inc., "We believe that this proprietary technology will be beneficial to help cost-effectively evaluate the safety of the water supply. Further, we think that this acquisition is compatible with our goal of providing new technology to ensure cleaner and safer water for public, industrial and residential water systems."
"We are very enthusiastic about working with HydroFlo, Inc. as they develop and commercialize our Swept Frequency Acoustic Interferometry (SFAI) technology for water testing applications. We believe that our unique method for scanning for possible contaminants found in drinking water is an excellent opportunity to address a major health concern," said Laura Barber, Technology Licensing Executive at the Los Alamos National Laboratory.
About HydroFlo Inc.
HydroFlo Inc. (www.hydroflo.us) is a business development company based in Raleigh, N.C. Its core focus is to seek out synergistic acquisitions that will provide capital appreciation and income from its portfolio companies. It also provides a full range of related services to companies and municipalities to treat water and wastewater.
About Los Alamos National Laboratory
Los Alamos National Laboratory (www.lanl.gov/partnerships/) is operated by the University of California (UC) for the Department of Energy (DOE). The lab's Technology Transfer Division develops partnerships and collaborations with industry, academia, and other research institutions in furtherance of programmatic goals, while benefiting the nation's industrial and academic sectors.
About UTEK Corp.
UTEK (www.utekcorp.com) is a leading, market-driven technology transfer company that enables companies to rapidly acquire innovative technologies from universities and research laboratories. It transfers proprietary technologies with potential commercial applications to companies seeking product differentiation resulting in a strategic marketplace advantage.