CONCORD, Mass., Feb. 23 /PRNewswire/ -- Starmet Corporation
(Nasdaq: STMT) a Concord, Massachusetts based manufacturer of specialized
metal products, today announced that it was recently selected by the
Department of Energy (DOE), Office of Industrial Technologies' (OIT)
Inventions and Innovation (I&I) Program to receive one of 24 grants awarded
from the I&I 1999 competitive solicitation. The grant for the project
"Germanium Compounds as Highly Selective Fluorination Catalysts" will be used
to demonstrate the concept for a new, highly selective catalyst for the
fluorination of hydrocarbons. This catalyst should meet the needs of the
fluorocarbon industry for process simplification, for reduction in capital
costs, and for the elimination of energy intensive processing steps and
separation processes.
Starmet's project was chosen from a field of 342 proposals on the basis of
recommendations by a panel of experts drawn from industry, academia, and
government. This notification along with three recently awarded Small
Business Innovation Research contracts from the Department of Energy and the
National Science Foundation further validates the future commercial potential
of the Company's novel fluorination technologies.
Special Note Regarding Forward-looking Statements:
Statements contained herein that are not statements of historical fact are
"forward-looking statements". Forward-looking statements include statements
concerning the relative economic benefits of this technology, competing
processes, intended market applications and scale-up with potential partners.
Such forward-looking statements are based on a number of assumptions and
involve a number of risks and uncertainties, and, accordingly, actual results
could differ materially from those projected in the forward-looking
statements. Factors that may cause such differences include, but are not
limited to: the acceptance of the Company's products and services; and the
presence of competitors with greater technical, marketing and financial
resources.
SOURCE Starmet Corporation
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Related links:
http://www.starmet.com
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http://www.prnewswire.com/comp/632850.html or fax,
800-758-5804, ext. 632850
CONTACT:
Gary Mattheson, Chief Financial Officer of
Starmet Corporation, 978-369-5410
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