Advanced Automotive Technology Lab Agreement Signed Between RIT and Local Industry Leader Torvec
August 06 2009 - 8:00AM
Marketwired
Rochester Institute of Technology and Torvec, Inc. (OTCBB: TOVC), a
publically held automotive technology company, signed a memo of
understanding to create the Safety and Efficiency in Automobiles
Laboratory on the RIT campus. The new lab will focus on developing
advanced automotive and related energy technologies as well as open
up new employment opportunities in the manufacture and production
of high-tech automotive equipment.
"Torvec has the potential to revolutionize the automotive
industry, and I look forward to partnering with Torvec to help make
that happen," says William Destler, RIT president. Personnel from
Torvec and faculty and students from RIT will develop programs and
lead automotive projects related to emission reduction and
fuel-efficient equipment toward the manufacturing of production
models. Torvec will also establish cooperative educational and
employment opportunities for RIT students in the fields of advanced
automotive and energy technologies.
"RIT brings the expertise, facilities and equipment to deliver
state-of-the-art results for all of the programs envisioned for
SEAL," says James Gleasman, chief executive officer, Torvec, Inc.
The company, established in 1996, has more than 300 world wide
patents and inventions such as the IsoTorque® differential which
helps automobile traction, handling and safety, its Infinitely
Variable Transmission which saves up to 25% fuel savings and
reduction in emissions, as well as its CV joint, hydraulic
pump/motor and Full Terrain Vehicle technologies, all of which are
revolutionary in their segment.
As stated in the agreement, the parties have agreed to:
1. Provide RIT faculty, staff and students with access to Torvec
advanced automotive and related energy technologies and know-how
and provide Torvec personnel with access to RIT personnel,
facilities and laboratories;
2. Engage each other's personnel, resources and facilities to
refine and evaluate advanced automotive technologies and related
energy technologies, including Torvec's, with a view to enhance the
design-specific aspects of such technologies for manufacturing and
mass production;
3. Establish educational and training programs for RIT
personnel, including where appropriate, creating and designing
cooperative educational and employment opportunities for RIT
students in the fields of advanced automotive and related energy
technologies;
4. Engage additional domestic and international automotive and
related energy companies in the purposes and programs of SEAL;
5. Engage in mutual efforts to obtain governmental and
nongovernmental funding for the purposes and programs of SEAL.
The agreement between RIT and Torvec also opens the door to
additional governmental and private sector funding for the programs
within SEAL that advance the automotive industry and manufacturing
opportunities in Rochester.
"SEAL will explore the synergies that can be created by the
mutual cooperation of RIT and Torvec toward the ongoing refinement
of advanced automotive and related energy technologies," says
Andrew Gleasman, technology manager at Torvec, Inc. Through the
relationship, the college and Torvec will engage additional
domestic and international automotive and energy companies to
enhance the programs developed through SEAL.
Torvec is a publically traded company that develops advanced
automotive and related energy technologies that increase
transportation safety, mobility, fuel efficiency and reduce
pollutants. Torvec's chief products and intellectual property
include its Full Terrain Vehicle (FTV®), infinitely variable
transmission, IsoTorque® differential, constant velocity joint,
hydraulic pump and motor and hydrogen powered steam turbine.
Rochester Institute of Technology is internationally recognized
for academic leadership in computing, engineering, imaging
technology, and fine and applied arts, in addition to unparalleled
support services for students with hearing loss. Nearly 16,500
full- and part-time students are enrolled in more than 200
career-oriented and professional programs at RIT, and its
cooperative education program is one of the oldest and largest in
the nation.
For two decades, U.S. News & World Report has ranked RIT
among the nation's leading comprehensive universities. RIT is
featured in The Princeton Review's 2009 edition of The Best 368
Colleges and in Barron's Best Buys in Education. The Chronicle of
Higher Education recognizes RIT as a "Great College to Work
For."
Contact: Keith Gleasman CTO 585-254-1100
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