21 Jun SRPM founded on CATI-patented technologies
Third CATI company in 12 months
STURTEVANT, Wis. – A third company has formed based on technology licensed from the Center for Advanced Technology and Innovation, Inc., or CATI. SRPM has secured a license agreement with CATI on its flexible, raised-pavement marking system, according to its executive vice president, Mike Bates.
Raised pavement markers are installed on most state and interstate highways to designate lane divisions, which assists during nighttime and harsh weather driving conditions. SRPM will be using the patented technology for installation in state and interstate highway construction and maintenance projects.
Bates stated the technology has numerous value-added characteristics, including its weight, snowplow-friendly features and ease of replacement during road reconstruction.
Matthew Wagner, CATI director, said the original technology was acquired by CATI from a private engineering firm in southeastern Wisconsin.
“We saw value in what was a dormant product that really only needed a management structure around it in order to get into the marketplace,” Wagner said.
The terms of the license agreement were not disclosed.
SRPM is the third company to be founded on CATI technologies in the past year, Wagner said. The others businesses are Yokit and RmSys.
CATI was formed in June 2001 as a partnership of academic, economic development and workforce development agencies. The organization acquires patents donated by private industry and matches them with entrepreneurs in an effort to spawn new companies.