Concurrent Technologies Corporation Developing Process to

Johnstown, PA, Oct. 13, 2022 (GLOBE NEWSWIRE) — Concurrent Technologies Corporation (CTC) has received funding from a Pennsylvania state grant for the development of key technologies. The $1.9 million Department of Community and Economic Development grant will provide funding to support three technical areas. 

Through the grant, CTC will continue to develop and implement advanced manufacturing technologies in support of next-generation small modular nuclear reactors and legacy systems associated with operational nuclear power plants. The grant also will enable CTC’s continued work to provide small- to medium-sized Pennsylvania businesses with assistance in developing processes and procedures associated with achieving and maintaining compliance with cybersecurity standards.

In a new initiative, CTC will work to prove 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 weapons systems, electronics, advanced motors, 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 quality jobs in Pennsylvania, as private investors would potentially fund production facilities that would utilize this process on a large scale. In creating a domestic supply of REEs, our nation would not be reliant upon foreign providers of REEs, thereby strengthening the nation’s economic potential and enhancing its national security. In addition, this process would aid in eliminating some of the spent coal residuals which can be environmentally hazardous.

“We are pleased to conduct this important and relevant research and development that could create rewards for our Commonwealth and the nation if this technology solution is proven to be feasible,” said Edward J. Sheehan, Jr., CTC President and CEO. “CTC is based in…