Palm Springs Based American Leak Detection & UTEK Corporation Sign Technology Acquisition Alliance
Palm Springs, California (July 12, 2007) - American Leak Detection, Inc. an environmental services franchise specializing in the non-invasive detection of leaks, and UTEK Corporation (AMEX & LSE-AIM: UTK), a specialty finance company focused on technology transfer, today announced the signing of a technology acquisition alliance.
'We are pleased to execute this technology acquisition alliance with UTEK," said Stan Berenbaum, Chief Executive Officer of American Leak Detection, Inc. "We always seek to offer our customers a new range of environmental products and services."
This alliance enables American Leak Detection to gain a broad reach of intellectual properties and advanced technologies from around the world that can assist their innovative work in non-invasive leak detection.
"We are excited to work with American Leak Detection, Inc. in the identification of technology transfer opportunities that align with its strategic vision," commented William R. Porter, Chief Technology Transfer Officer at UTEK Corporation.
Through its technology acquisition alliances, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers.
About American Leak Detection, Inc.
American Leak Detection specializes in the accurate, non-invasive detection of all types of leaks including hidden water and sewer leaks. From swimming pool cracks to concealed plumbing systems, the smallest leak is located with the most advanced, sophisticated electronic devices - without bashing holes in walls or digging up the deck and yard. Founded 32 years ago, they now operate a network of well trained Original Leak Specialists on six continents.
About UTEK Corporation
UTEK® is a specialty finance company focused on technology transfer. UTEK's services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B®. In addition, UTEK offers companies the tools to search and analyze university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom and Israel.
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