October 7, 2008: Micromem Applied Sensor Technologies Inc. (MAST), a wholly owned US subsidiary of Micromem Technologies, has established a corporate office in New York City, part of the parent company’s strategic plan to focus on magnetic sensor opportunities independent of the magnetic random access memory (MRAM) market.
Micromem Technologies has transitioned from research and development to business development with a focus on applying its highly sensitive and accurate magnetic sensors to serve unmet needs and applications heretofore not possible with currently available competing technologies.
MAST’s MRAM sensor properties were discovered through research and development at Micromem Technologies; MAST has since developed GC-0301 for commercialization in the US. With over 200 V/T, GC-0301 is the most sensitive hall sensor on the market across a large environmental operating temperature range without the need for external amplification. The company is prioritizing its targets to focus on aerospace/defense and consumer applications.
“Opening a New York office brings us closer to our US-based clients,” said Micromem CEO Joe Fuda, in a statement. “More important, our sensor is relevant to a number of critical government and military applications, many of which may become protected under International Traffic in Arms Regulations (ITAR), a policy that requires a US presence and management team. Launching MAST in New York sends a clear message to the market that we are here to stay and are serious about solving difficult application problems for unmet needs.”
Steven Van Fleet, president of MAST, commented: “In the aerospace/defense sector, our business development team has signed an agreement with BAE Systems, one of the largest defense companies in the world, to develop nano-sensor technology for use in military, law enforcement, and homeland security applications. The goal of the agreement is to further develop the design and manufacturability of our technology. MAST intends to use BAE’s foundry, a Department of Defense trusted facility, for the manufacturing of all government and defense related solutions. MAST has also signed an agreement with Global Communications Semiconductors (GCS), a specialty compound semiconductor foundry based in Los Angeles, and intends to use GCS for the manufacturing of all consumer products.”