Carpenter Technology Corp. and Manhattan Scientifics Inc. announced a joint technology agreement involving a new class of high-strength metals with broad applications in aerospace, energy, defense, transportation and medical products. Manhattan Scientifics holds the exclusive U.S. license for a family of patents to produce super-strong metals developed at the Los Alamos National Laboratory and in Russia. Carpenter will develop, manufacture and market the new generation of advanced metals.
According to Manhattan Scientifics, the initial technology-transfer payments along with eventual royalties from Carpenter will provide the company with sustained revenue, positive cash flow and profitability beginning this year. Wyomissing, Pa.-based Carpenter produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products.