Micromem Technologies is pleased to announce that it has successfully manufactured foundry grade fully functioning MRAM cells. This culminates an intensive three-year research and development proof of concept phase followed by a foundry phase focused on manufacturability and scalability of our MRAM product. The first phase of the foundry process will be completed in January 2008. Our development team at Strategic Solutions is to be applauded for working closely with the California -based foundry Global Communication Services (GCS) to meet the aggressive schedule that the Company initiated in the fall of 2007.

Reference is made to the September 17, 2007 press release wherein the Company described the Reticle Design and Test Plan. The initial foundry phase has generated an extensive amount of statistically validated MRAM performance data in accordance with the scheduled Test Plan. During January 2008 the Company will be analyzing this large data set. Initial data review indicates that the Test Plan was successful and the data set is rich with scalable data that indicates a clear path to an optimized MRAM cell design.

The Hall Sensor forms an integral component of the Micromem MRAM design. The Hall Sensor is used to measure the external field of a magnet whose magnetization can be reversed by generating a current in a coil.

Having exceeded the test requirements on the Hall Cross Sensor device, we have authorized the foundry to accelerate their efforts on the complete MRAM cell manufacturing. We will have an additional update on actual memory cell testing prior to December 25, 2007.

As a result of this positive test data we have defined the first MRAM array sizes that we are targeting. These have been defined in concert with some of our interested end users who will ultimately utilize our memory. Our initial target MRAM array sizes are 40 bits, 256 bit, 512 bits and 1024 bits. In addition to these high-speed memory size requirements, we have been requested to design to a 16K bit memory array of low speed embedded memory. This will be used for identification purposes only where radiation hardened is the key parameter and typically high speed memory read write time is not critical.

Micromem continues to meet and or exceed the foundry targets. Management is committed to our investors to provide timely and informative press releases as we march the company towards full commercialization.

 

Micromem Technologies Inc. (OTC BB: MMTIF) is pleased to announce that it has raised $400,000 by way of arms length private placements ranging from $0.45-$0.48 per share. The shares issued will be subject to Rule 144. These funds are in addition to the previously announced financing dated October 18, 2007. These funds will be used to further the company's effort to commercialize its patented MRAM technology for a wide variety of uses beyond RFID applications. No commission was paid on this financing.

With respect to the company's previously announced financing efforts, management will continue to pursue this opportunity.

Micromem is pleased to announce that as of September 20 2007 the MRAM wafers are in production in the global Communications Semiconductor, Inc. (GCS) foundry. On September 17, 2007 Strategic Solutions, a design partner of Micromem, released the approved reticle design to the foundry. The reticle design incorporates an extensive matrix of tests to be  performed on the Micromem MRAM bit structure as it is processed through the foundry. By October 29, 2007 the reticle test matrix will yield valuable information of the MRAM  scalability, power consumption, read write speed and cross talk separation. Micromem is also planning additional radiation hardening test that will validate and supplement similar testing previously communicated in our May 24, 2007 press release.

Steven Van Fleet, Micromem's Project Director for this foundry phase stated The entire team, Strategic Solutions, GCS and Micromem are extremely pleased with the foundry plan, schedule and reticle test plan. Gallium Arsenide (GaAs) is proving to have been a wise choice for our targeted applications. GaAs has two distinct advantages over silicon: speed and power. For the same power dissipation, a GaAs circuit is faster, at the same speed, the power in a GaAs circuit is usually lower. This is key to our targeted markets.

Micromem Technologies has received very encouraging feedback regarding its financing efforts in Europe. The company has been advised by the agent they have encountered no issues with  completing the financing. In a previously announced press release, it remains the company’s intention to raise US$8,500,000. The agent reserves the right to close in tranches.

A portion of  the funds have been earmarked to engage an identified U.S. based foundry that will enable the company to accomplish its commercialization plans. The purpose of the foundry is to design  and build a commercial MRAM device utilizing Microme m’s patented technology.

Micromem Technologies announced today that it has achieved success in tests of radiation hardness on its device components. Samples prepared by Dr. Harry Ruda at the University of Toronto were exposed to various levels of Cobalt 60 gamma radiation. This form of radiation is one of the toughest forms and even after exposure at the highest  levels of radiation the materials performed perfectly.

Samples of pHEMT (High Electron Mobility Transistor structures) GaAs were prepared to mimic the bit cell environment of the company’s Hall Sensing MRAM. The samples were then sent for exposure to Cobalt 60 gamma radiation in an industrial medical device sterilization chamber.

The samples were exposed to three different doses of radiation as follows (each dose is reported within +/- 5 kGy):
    Low level: Min. 26.371 kGy to max. 31.603 kGy
    Mid level: Min. 45.163 kGy to Max. 52.005 kGy
    High level: Min. 95.139 kGy to Max. 112.747 kGy

Researchers at the University of Toronto then tested the samples. The test concluded the device’s functioning and capabilities remained unaltered by even the highest level of radiation exposure. These initial results were taken at room temperature. The only effects of the radiation exposure that could be seen were at temperatures below -70ºC. During actual use the device would not be exposed to such extreme temperatures.

The measurements showed that the samples made highly sensitive Hall sensors and were able to function as a memory element after dosing with high levels of radiation.

The next steps have already begun which include making and testing fully integrated bit cells fabricated at the University of Toronto. The company plans to move forward with its testing by fabricating scaled samples inside a fabrication facility. These scaled prototypes will be tested for use as radiation hardened memo ry components for sale into the medical device industry, as well as aerospace, defense and pharmaceuticals.

Micromem today announced that it has retained the services of Strategic Solutions, a California-based engineering firm specializing in "lab-to-fab" transitions, to continue Micromem's pursuit of commercializing its HCS MRAM technology.

The engineers at Strategic Solutions will work directly with Micromem's Chief Technology Officer, Dr. Cynthia Kuper, to road map Micromem's HCS MRAM and to fabricate the memory.

This road map provides specific information on what types of memory products HCS MRAM can replace and estimates the specific price points for given applications. Strategic Solutions also provides detailed specifications on the functioning of HCS MRAM as it scales and delivers discrete project plans and milestones for each step in the productization process.