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Manhattan Scientifics Signs Development Agreement with General Cable
Manhattan Scientifics Signs Development Agreement with General Cable.
About this update from Manhattan Scientifics, Inc.
[{"type":"text","content":"\n \n Manhattan Scientifics, Inc. (OTCQB:MHTX) announced today that it has \n signed a $500,000 Joint Development Agreement with General Cable (NYSE: \n BGC).\n \n \n The agreement calls for the design and development of nano-structured \n aluminum for wire and cable applications with a strong focus on overhead \n conductor for the transmission of power.\n \n \n Currently, approximately 7% of energy is lost between a generation \n source and customer meter in the U.S. The cost of the energy losses is \n estimated at approximately $25 billion per year. Transmission and \n distribution overhead conductor line losses are the dominant source of \n these energy losses. Nano-structured aluminum has the potential to offer \n superior balance of strength and conductivity, which can be leveraged to \n significantly improve the efficiency of electrical power transmission \n and distribution. It can also improve safety and reliability of the \n transmission grid, as the nano-structured aluminum based conductors are \n expected to be resistant to high temperatures and sag.\n \n \n Manhattan Scientifics’ CEO Manny Tsoupanarias, said, “We are very \n pleased to announce this agreement with General Cable and our goal is to \n take a completely new approach in order to create a lighter, more \n efficient aluminum conductor and, in the process, lead to a successful \n future licensing arrangement with General Cable.”\n \n \n Dr. Srini Siripurapu, Vice President of R&D at General Cable, said, “We \n are committed to being the industry leader in innovation for overhead \n conductors for transmission and distribution. This partnership \n strengthens our focus on nano-structured aluminum, an important \n technology platform that creates differentiated solutions for the \n Utility industry.”\n \n \n About Manhattan Scientifics, Inc.\n \n \n Manhattan Scientifics Inc. (www.mhtx.com) \n is located in New Mexico, New York and Montreal. It is focused on \n technology transfer and commercialization of transformative technologies \n in the nano medicine space.\n \n \n Forward-looking statement\n \n \n This press release contains forward-looking statements, which are \n subject to a number of risks, assumptions and uncertainties that could \n cause the Company's actual results to differ materially from those \n projected in...