| July
13, 2004
FOR IMMEDIATE RELEASE
CiDRA Selected to receive 2004 R&D
100 Award
Wallingford, CT - July 13, 2004
CiDRA Corporation ("CiDRA")
today announced that it has been selected
to receive the 2004 R&D 100 Award
from R&D Magazine. The SONARtrac™
Process Monitoring System was selected
by an independent judging panel and
the editors of R&D Magazine as
one of the most technologically significant
products introduced into the marketplace
over the past year.
For 42 years, the prestigious R&D
100 Awards have been helping companies
provide the important initial push
a new product needs to compete successfully
in the marketplace. The winning of
an R&D 100 Award provides a mark
of excellence known to industry, government,
and academia as proof that the product
is one of the most innovative ideas
of the year.
"Let me personally congratulate
your project team on the design, development,
test and production of this remarkable
product. This year's program was especially
competitive and CiDRA should be proud
of this accomplishment," said
Tim Studt, Editor in Chief, with R&D
Magazine.
CiDRA's SONARtrac flow technology
is a new class of industrial flowmeter,
utilizing measurement principles that
are distinct from all other available
flowmeter technologies. By installing
on the existing process lines, SONARtrac
clamp-on flow monitoring systems eliminate
the process disruptions associated
with installing other types of flowmeters.
This passive, sonar-based technology
enables measurements of single phase
and multiphase flows as well as slurries,
with the same level of accuracy and
performance.
Please watch for the September 2004
edition of R&D Magazine for all
the details on the R&D 100 Awards,
while additional information on this
award and R&D Magazine are available
at http://www.rdmag.com.
For additional information on CiDRA's
products and services, please visit
www.cidra.com.
About Axiom Venture Partners
L.P.
Axiom Venture Partners provides capital
and strategic assistance to rapidly
growing high technology companies.
Axiom's professionals bring substantial
investing experience and industry
expertise to the venture capital process.
With over $200M in capital under management,
the firm seeks to consider investment
proposals in two main industry areas.
The first is high technology, which
includes communications, software,
Internet infrastructure, and information
technology. Biotechnology constitutes
the second area. Through its office
in Connecticut, Axiom invests actively
throughout the United States in early
or late stage companies. For more
information, visit www.axiomventures.com
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