TORONTO and NEW YORK, Feb. 6, 2012 /CNW/ - Micromem Technologies Inc.
[the "Company"] [OTC BB: MMTIF, CNSX: MRM], through its wholly owned
subsidiary Micromem Applied Sensor Technologies Inc., announces a
contract milestone with GSI Westwind has been met with the delivery of
the air bearing motor speed control circuit boards in early January.
These patent pending circuit boards were designed and manufactured by
Micromem and include the Company's patented Hall sensor chips.
The design takes advantage of the Company's industry leading, small
sensor footprint and nano second signal acquisition speeds. The
flexible arms of the circuit board allow the Company's sensors to be in
close proximity with the magnets in the client's motors, providing a
crisp, noise free signal back to the speed controller. A photo of the
production ready Micromem product is shown above. The Company's
magnetic sensors are shown on each of the three flexible circuit arms.
Prior to shipping the circuit boards to the client, they were fully
tested up to the maximum allowable speed based on the client supplied
drive unit. The resultant signal waveforms for all three switching
channels were clean and noise free.
GSI Westwind has been performing extensive tests on the Micromem boards
and a final report is anticipated by February 10, 2012. Micromem will
react to any feedback from the client and incorporate circuit
adjustments requested in follow up production orders.
Joseph Fuda, President of Micromem states "The Company is very proud of
this device and excellent results are expected".
About Micromem, MASTInc
MASTInc is a wholly owned U.S.-based subsidiary of Micromem Technologies
Inc., a publicly traded (OTC BB: MMTIF, CNSX: MRM) company. MASTInc
responsibly analyzes the specific industry sectors to create
intelligent game-changing applications that address unmet market needs.
By leveraging its expertise and experience with sophisticated magnetic
sensor applications, MASTInc successfully powers the development and
implementation of innovative solutions for healthcare/biomedical,
natural resource exploration, government, information technology,
manufacturing, and other industries. Visit www.micromeminc.com www.mastinc.com.
Safe Harbor Statement
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause the Company's actual
results to differ materially from those projected in such
forward-looking statements. In particular, factors that could cause
actual results to differ materially from those in forward looking
statements include: our inability to obtain additional financing on
acceptable terms; risk that our products and services will not gain
widespread market acceptance; continued consumer adoption of digital
technology; inability to compete with others who provide comparable
products; the failure of our technology; the infringement of our
technology with proprietary rights of third parties; inability to
respond to consumer and technological demands; inability to replace
significant customers; seasonal nature of our business; and other risks
detailed in our filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date made and are not
guarantees of future performance. We undertake no obligation to
publicly update or revise any forward-looking statements. When used in
this document, the words "believe," "expect," "anticipate," "estimate,"
"project," "plan," "should," "intend," "may," "will," "would,"
"potential," and similar expressions may be used to identify
The CNSX or any other securities regulatory authority has not reviewed
and does not accept responsibility for the adequacy or accuracy of this
press release that has been prepared by management.
NASD OTC-Bulletin Board - Symbol: MMTIF
CNSX - Symbol: MRM
Shares issued: 118,231,407
SEC File No: 0-26005
Image with caption: "Motor Control Circuit for high speed Air Bearing (Patent Pending) (CNW Group/Micromem Technologies Inc.)". Image available at: http://photos.newswire.ca/images/download/20120206_C9909_PHOTO_EN_9700.jpg
SOURCE Micromem Technologies Inc.
For further information:
Jason Baun, Chief Information Officer Tel. 416-364-2023