January 2009

FUTREX Seeks Interest In Cooperative Research




Friday, January 30, 2009


North Charleston—The Board of Directors of FUTREX Inc. announces that the company is seeking qualified expressions of interest in innovative approaches for the final development and commercialization of its System 21 rail transit technology.  Examples of creative approaches might include public-private partnerships, non-profit or foundation sponsorships, and cooperative agreements with universities or research consortia.


FUTREX, founded in 1986, is a transportation technology company that has been devoted to the development of its System 21 monobeam technology, an innovative design that has significant cost, environmental and operating advantages over transit technologies currently in use.  Since relocating from Fairfax, Virginia to Charleston, South Carolina in 1995, the company has utilized a blend of public and private financing to successfully complete two phases of System 21’s development, including an operating quarter-scale model.  The company and its consortium of leading transportation firms have developed detailed plans for the final phase of development prior to commercialization—full-scale design, engineering and integration of System 21’s key components.


The company has arrived at this strategic decision after exhausting its resources for the continued private development of its System 21 technology, and in view of worldwide financial markets for the foreseeable future.  Notwithstanding the global financial climate, FUTREX believes that the increasing impact of urban growth and congestion and rising oil prices, and the renewed policy commitments of governments around the world to more effectively address these critical issues, make the development of affordable, practical transit alternatives like System 21 even more imperative.  “The soundness, potential and successful development of the System 21 technology to date are key factors in our conclusion that this breakthrough technology must be fully developed so that it is available to communities around the world as a more efficient transit solution,” the Board said in its statement.


FUTREX is seeking interest from foundations, non-profit organizations, universities or other institutions that might wish to assume a leadership and stewardship role in the final development and introduction of System 21 as a world-class transit solution. The company is eager to discuss any cooperative arrangement with qualified institutions that could assemble the capabilities and resources to ensure successful development of the System 21 monobeam technology.


To express interest or obtain more information, contact FUTREX at info@futrexinc.com.




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