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Forbes Honors VEXTEC as America’s Most Promising Company.

Firm is selected from thousands of US-based companies for the quality of its management, technology, and opportunity.

Brentwood, TN, September 16, 2009 – After months of sifting through the financials, business and technology descriptions for thousands of companies from all over the country, the results are finally in: Forbes magazine has named VEXTEC America’s Most Promising Company.

"VEXTEC's technology promises to hasten the pace of innovation," said Brett Nelson, Forbes Entrepreneurs Editor. "This young company represents the very spirit of entrepreneurship in America."

The hunt for America’s Most Promising Companies was announced in Forbes, and Forbes.com last spring. Forbes’ conducted the survey in partnership with The Venture Alliance, a boutique investment adviser to early stage companies. The survey’s announcement prompted thousands of companies in every conceivable stage and from every different business segment imaginable to submit to the intense scrutiny of TVA selection criteria.

As the survey progressed from questionnaires to detailed interviews, VEXTEC’s value proposition became clear. After 10 years in development, VEXTEC’s pioneering work in the fields of material science and probabilistic modeling has yielded the only accurate and efficient computational framework for simulating and then predicting the behavior of manufactured products — their performance, their durability, when, why and how they’re going to fail, and what it’s going to cost when they do. The technology, which VEXTEC calls Virtual Life Management, can make these predictions for one product, the whole product line, or even a entire fleet of products.

VEXTEC’s VLM technology has the potential to make a profound impact in the aerospace, automotive, heavy equipment, oil & gas and medical device markets, with a broad-based superset of applications. The technology has the power to replace the trial and error of product design, bring newfound consistency to manufacturing and quality management, provide a platform for predictive maintenance, and drive warranty costs to zero. In terms of its financial impact, VEXTEC’s addressable market is huge. Last year alone, American manufacturers spent nearly $30 billion on warranty payments to cover the costs of premature product failures, and more than twice that amount on the various characterization, modeling, testing and research functions involved in product development.

According to Elliott Reiff, co-founder and Chief Operating Officer of The Venture Alliance (www.tvausa.com), “During the survey, thousands of companies started the process and VEXTEC clearly stood out because of its technology, overall quality of the management team, and the huge market opportunity that exists for them.”

Loren Nasser, VEXTEC CEO and co-founder, insisted it was just a matter of time. “We always knew we had a jewel here and now the planned acceleration of our growth has been validated by this selection. We’re honored we’ve been chosen from so many fine companies, and particularly that Forbes and TVA have selected us to head this prestigious list.”

While the survey was announced only last spring, the genesis for the concept began with Forbes’ partnership with The Venture Alliance, which provided Forbes with the most comprehensive business assessment tool ever created.
According to the Forbes.com site, TVA had “developed a scoring algorithm based on a vast range of variables that determine a company's potential--and, ultimately, its worth to investors—including: financial projections, current capitalization, market position, market opportunity, intellectual property, management team and others.”

In describing TVA’s process, Reiff said, “TVA has a unique scoring method that creates a level playing field for rating early stage companies. The idea was to employ a multi-staged, detailed process which yielded the most credible list possible.”

Coincident with the announcement of the survey, Forbes.com also launched a new related editorial section within the Entrepreneurs channel, called Promising Companies, available at: www.forbes.com/promising. HP, the world’s largest technology company, is the official technology supplier and the sponsor of America’s Most Promising Companies survey.

About VEXTEC

VEXTEC is the only company in the world that can accurately and efficiently predict the performance, durability and true lifetime cost of a single component or an entire fleet—before they’re ever built. Founded in 2000, VEXTEC has pioneered and patented innovations in material science and probability theory to form the foundation of its Virtual Life Management (VLM) technology. Manufacturing companies from such diverse industries as aerospace, heavy equipment, automotive, electronics and medical implants can all benefit from VEXTEC’s unique ability to predict product life cycles and failure, and most importantly, their financial consequences. To learn more, visit www.vextec.com.

VEXTEC Contact

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