Apr 21 2014
Micromem Technologies Inc. (the "Company") through its wholly owned subsidiary Micromem Applied Sensor Technologies Inc. (MAST), provides the following update on the Company's projects that are currently described on the presentation posted on our website.
The Company has ongoing Intellectual Property filings on these projects and cannot discuss further technical details at this time. All of the projects listed below are contracted by Global Fortune 500 companies and in every case are breaking new ground in building smart systems for their specific industry requirements. Our solutions have been selected over other companies' proposals and are being funded by leaders in their respective fields. As a result of the accomplishments on these programs several of these clients are now assessing other projects in conjunction with MAST.
Nanoparticle Concentration Sensor Platform:
The pre- production platform has been delivered to the client. Production costing per unit is complete and will be delivered to client in April 2014, with delivery and production schedules for client approval.
Enhanced Oil/Gas Recovery using MAST Nanoparticles:
Lab testing of particles has so far yielded successful results and has demonstrated particle function capabilities. All required parameters have been met and preparation for field testing is now beginning.
Cement Integrity Sensor:
Demonstration of design proposal met client requirement, proceeding to next stage of development which includes client funding.
Fracking Sensor:
Demonstration of design proposal met client requirements, proceeding to next stage of development which includes client funding.
Corrosion under Insulation Sensor:
Demonstration of design proposal met client requirements, proceeding to next stage of development, which includes client funding.
Integrated Analytical Lab on Chip in Automotive Oil Pan Plug:
Initial costing by suppliers meets target pricing for client. Various Tier 1 and Tier 2 suppliers were evaluated by MAST and client; final selection of all suppliers expected in Q2 2014.
Power Transformer Oil Degradation Sensor:
First phase completed and met client approval, project proceeding as scheduled. In addition to use by the client, both parties have agreed to form a joint LLC to market and deploy technology to other utilities.
Analysis of Wear Materials in Lubricating Fluids:
Demonstration of miniaturized laser induced Spectroscopy proved concept to client satisfaction. Royalty agreement has been reached.
Source: http://www.micromeminc.com/