ORLANDO, FL, April 13 /CNW/ - Lockheed Martin (NYSE: LMT) will host 23
small business nanotechnology enterprises on Friday, April 13, to showcase a
wide range of nanotechnology products as well as encourage networking on this
"While nanotechnology implies processing materials or making devices at
the molecular level, this area of science is truly in its infancy," said Dr.
Les Kramer, director and chief technologist at Lockheed Martin Missiles and
Fire Control. "There is tremendous potential in nanotechnology and related
disciplines to have a very positive impact on our future. For example, weapons
will become smaller, lighter, and smarter. Electronics will shrink in size,
but have greater capabilities and memory. Sensors will see farther, with
With Micromem's first patent issued in 1994 and claiming priority dating
back to 1992, Micromem's research team has demonstrated the ability to design
and fabricate a Hall Cross Sensor magnetic memory. Micromem is confident that
its developed technology will be a viable MRAM device for aerospace and
defense applications. Micromem is pleased with the opportunity to collaborate
with Lockheed Martin product designers and manufacturing engineers to assist
Micromem focus its years of research and development towards a commercial
The small businesses will have the opportunity to share their development
and production experience with Lockheed Martin designers and manufacturing
engineers with the intent to encourage collaboration and foster partnerships
where innovations and technologies align with each others products and
solutions. Many of the small businesses are working on research and
development programs with funding from Department of Defense Small Business
Innovation Research (SBIR) grants, enabling them to develop next-generation
"Lockheed Martin has long been recognized as one of the nation's leaders
in the area of small business utilization," said Cathy Usztan-Bedford,
director of Supplier Diversity for Lockheed Martin Missiles and Fire Control.
"The company continues to embrace the development and growth of small
businesses. Technology is our future, and involving the small business
community early in the development process will ensure opportunities for
partnering and mutually beneficial discovery and advancement."
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About Micromem Technologies Inc.
Micromem Technologies, Inc. (www.micromeminc.com) is focused on the
development of magnetic random access memory (MRAM) technology. We believe
that once fully developed, this technology will be suitable for various
applications including, without limitation, Radio Frequency Identification
(RFID). It is anticipated that RFID will be Micromem's first market objective.
Micromem's primary technology was developed pursuant to an exclusive world
wide commercial license issued by the University of Toronto ("UT"). Pursuant
to the terms of the license, Micromem can buy out the balance of its financial
obligations with respect to the patents and technology licensed by UT for a
fixed fee. The MRAM development work was undertaken in accordance with
research collaboration agreements among Micromem, the University of Toronto,
Dr. Harry Ruda and OCE Inc., a not-for-profit corporation supported through
the Ontario Ministry of Economic Development and Trade's (MEDT) Ontario
Centres of Excellence program.
Statements in this news release that are not historical facts, including
statements about plans and expectations regarding products and opportunities,
demand and acceptance of new or existing products, capital resources and
future financial results are forward-looking. Forward-looking statements
involve risks and uncertainties, which may cause Micromem's actual results in
future periods to differ materially from those expressed or suggested herein.
These uncertainties and risks include, without limitation, the inherent
uncertainty of research, product development and commercialization, the impact
of competitive products and patents, our ability to fund our current and
future business strategies and respond to the effect of economic and business
conditions generally as well as other risks and uncertainties detailed from
time to time in Micromem's filings with the Securities & Exchange Commission.
There can be no guarantee that Micromem will be able to enter into any
commercial arrangements on terms that are favorable to it, or at all. For more
information, please refer to Micromem's Annual Report on Form 20-F and its
Form 6-Ks as filed with the U.S. Securities and Exchange Commission. Micromem
is under no obligation (and expressly disclaims any obligation) to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise.
For further information:
For further information: Jason Baun, Chief Information Officer,