Anderal Technologies Wins Second Place in Shell Oil’s “Future Energy” Event in New York City
FOR IMMEDIATE RELEASE:
HERMITAGE, PA – Anderal Technologies, a startup tech company, recently presented its Electrically Assisted Manufacturing (EAM) technology before a sell-out crowd of 250 paid attendees in New York City. The “Future Energy” event, sponsored by Shell Oil, was a call for new energy related technologies and start-ups to compete in a business idea competition in front of angel investors, venture capital groups, and technology firms. Shell received 169 applications and accepted 8 to make presentations at the Microsoft office in New York on June 13. Anderal Technologies, a Ben Franklin Technology Partners supported venture and an eCenter@LindenPointe incubator tenant client, was chosen as one of those elite eight.
As part of the competition, Anderal Technologies responded to questions from a panel of four, representing Shell Oil, New York Angels, GE Ventures, and New Venture Partners. Following the presentations, the panel and the attendees voted via phone link culminating in awarding the top three finishers with prizes and awards. Anderal Technologies earned a coveted Second Place for its EAM technology.
Responding to the Second Place Award, Ronald Anderson, President of Anderal Technologies, stated, “It truly qualifies as one of the most humbling experiences of my life”. He further added, “Dr. John Roth, the inventor of the technology and Professor at Penn State University deserves all the credit as the technology and its adaptation is fully credited to Dr. Roth”. EAM is considered to be a disruptive innovative technology in the world of metal forming that has recently come out of the R&D labs of Penn State – Behrend in Erie, PA. To date, patents on the technology have been issued with Penn State, Northwestern University and Ford Global Technologies sharing positions on the patents. Dr. Lane Mears, Clemson University, and the Clemson University Center for Automotive Research, who is also associated with Anderal Technologies, has a patent pending in application of EAM technology.
Yvonne English, Executive Director of the eCenter@LindenPointe, commented on Anderal’s win by stating, “Anderal Technologies is commercializing a technology that has the potential to be a game changer in multiple industries. Their success at this high-level competition only goes to support that assertion.”
Anderal Technologies has recently benefited from the support of Ben Franklin Technology Partners on a Research and Development project focused on Dual Phase Steel, DP1500 and DP2000. A Korean company, MsAutotech, and the University of Ulsan, both of South Korea, have collaborated with Anderal and Penn State to research the utilization of EAM on these new ultra-high strength automotive steels.
For the near future, Anderal is looking to R&D the EAM technology on rolling of aluminum, with plans to pursue this R&D between July and December of 2013. Additionally, further work on developing key application opportunities and partners will be a focus of the young venture.
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