Johnstown, PA, Oct. 13, 2022 (GLOBE NEWSWIRE) — Concurrent Technologies Corporation (CTC) has received funding from a grant from the State of Pennsylvania to develop key technologies. The $1.9 million grant from the Department of Community and Economic Development will provide funds to support three technical areas.
Through the grant, CTC will continue to develop and implement advanced manufacturing technologies to support next-generation small modular nuclear reactors and legacy systems associated with operating nuclear power plants. The grant will also enable CTC’s continued work to provide assistance to Pennsylvania small and medium-sized businesses in the development of processes and procedures associated with achieving and maintaining compliance with cybersecurity standards.
In a new initiative, CTC will work to demonstrate the feasibility of applying a patented high-temperature technology to extract rare earth elements (REEs) from coal-based sources.
REEs are critical to the production of national defense weapon systems, electronics, advanced engines, power generation equipment, automobiles and more. This technology, if successful in this application, could lead to the development of a domestic supply chain of REEs and create high-quality jobs in Pennsylvania as private investors would potentially fund manufacturing facilities that would utilize this process on a large scale. By creating a domestic supply of REEs, our nation would not be dependent on foreign suppliers of REEs, thereby enhancing the nation’s economic potential and enhancing its national security. In addition, this process would help eliminate some of the residue from the spent coal that can be environmentally hazardous.
“We are excited to be conducting this important and relevant research and development that could benefit our Commonwealth and nation if this technology solution proves feasible,” said Edward J. Sheehan, Jr., President and CEO of CTC. “CTC is based in Pennsylvania, where it…
