Elemental Technologies Secures Strategic Partnership and Development agreement with In-Q-Tel
Agreement Brings Massively Parallel Video Processing Technology to the U.S. Intelligence Community
Portland, Ore. — February 2, 2009 — Elemental Technologies, the leading provider of massively parallel processing (MPP) solutions, today announced a strategic partnership and technology development agreement with In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the mission of the CIA and the broader U.S. Intelligence Community.
Elemental pioneered the use of parallel processing technology for video with its core technology, the RapiHD Video Platform. RapiHD leverages off-the-shelf graphics processing units (GPUs) to bring unprecedented levels of speed and quality to video processing applications. Elemental's consumer product, the Badaboom Media Converter, allows videophiles everywhere to quickly convert video from one format to another for easy viewing on portable devices. For creative professionals performing high-end, non-linear video editing, Elemental offers the RapiHD Accelerator for Adobe Premiere Pro. The core technology on which Badaboom and the RapiHD Accelerator are built has broad applications for furthering the missions of the U.S. Intelligence Community.
"We are excited to join In-Q-Tel's portfolio of innovative technology companies," said Sam Blackman, chief executive officer of Elemental Technologies. "This partnership allows Elemental to serve markets in critical need of high-performance video solutions while continuing to push the limits of massively parallel processing."
"Elemental Technologies enables massively parallel graphics processors to be exploited in new ways, creating truly impressive results." said Troy M. Pearsall, executive vice president of architecture and engineering at In-Q-Tel. "The company's innovative platform offers tremendous promise in the development of leading-edge video processing solutions using low-cost, off-the-shelf GPU hardware."
About Elemental Technologies
Elemental Technologies is the leading provider of massively parallel processing (MPP) solutions for video applications. Using off-the-shelf, programmable graphics processing units (GPUs), Elemental's RapiHD Video Platform is ideally suited for a variety of video applications including consumer media processing, professional video editing, and Internet video processing. Elemental's Badaboom Media Converter is a faster-than-realtime, high-definition video conversion application that enables users to convert video to play on a variety of mobile devices. Founded in 2006, Elemental Technologies is headquartered in Portland, Oregon. To learn more about Elemental, visit www.elementaltechnologies.com.
In-Q-Tel is the strategic, not-for-profit investment firm that works to identify, adapt, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent organization, In-Q-Tel's mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community. In-Q-Tel concentrates on several broad commercial technology areas, including application software and analytics; bio, chemical, and nanotechnology communications and infrastructure; digital identity and security; and embedded systems and power. To date, In-Q-Tel has engaged with more than 125 companies and delivered more than 140 technology solutions to the Intelligence Community. To learn more about In-Q-Tel, visit www.iqt.org.
# # #