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.

Singulus has established a fully-owned subsidiary for the growth market magnetic storage, MRAM and semi-conductor technology. The new 100 % subsidiary of the Singulus Technologies AG is called 'Singulus Nano Deposition Technologies GmbH' and located in Kahl. Managing Directors are the present division manager, Dr. Wolfram Maass, as well as the CEO of the parent company, Stefan A. Baustert.

All of SINGULUS' activities for this particularly sophisticated target market have already been combined under the name of 'Nano Deposition Technologies'. Following the break-through of the newly offered machine concept, the next logical strategic step was the focusing. With the Singulus Nano Deposition Technologies GmbH Singulus intends to benefit even more from the growing volumes in these specialized markets.

Agilent Technologies today announced new hardware and software capabilities for its B1500A Semiconductor Device Analyzer and EasyEXPERT software test shell, which reduce the time required for the testing and characterization of advanced non-volatile memory (NVM) cells and other next-generation semiconductor devices.

The Agilent B1500A meets the industry’s need for an instrument-based solution that supports modern NVM technology requirements, including MRAM, PRAM, RRAM, NAND and NOR Flash, such as support for voltages greater than 20 V and precise control over the pulse level, and leading and trailing edges. The B1500A with EasyEXPERT and the HV-SPGU is designed to allow users to complete endurance testing of NVM cells up to 10 times faster than with previous solutions.

Revenues during the second quarter of fiscal 2007 were $5.1 million, a decrease of 20% from $6.4 million reported in the same period last year, and a decrease of 22% sequentially from the $6.6 million recorded for the first quarter of fiscal 2007.

Quarterly shipments included an advanced etch system for the manufacturing of MRAM devices to the well-funded European start-up, Crocus Technologies SA of Grenoble, France, along with several 900 and 980 series etch tools to companies in Japan, Europe and the United States.

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.

Singulus has received a follow-up contract for a TIMARIS system. The customer that had placed an order with Singulus Technologies for a TIMARIS system for Thin Film Read/Write Heads on December 28, 2005, has now ordered an additional machine, the analyst reports. Including the two orders from the completed second quarter, a total of five sets of TIMARIS machines are scheduled for delivery, the analyst says.
The new order indicates that customers are very happy with the quality of the equipment, the analyst says. Apart from the production of MRAM memory components, the TIMARIS machines may be used in the segment of harddisks, the analyst mentions

Read more here

Tegal Corporation today announced that Crocus Technology SA, a startup company specializing in magnetic random access memory (MRAM), has placed an order for a Tegal 6500series critical plasma etch system outfitted with Spectra(TM) process modules. Crocus Technology SA of Grenoble, France recently received $17M in funding to commercialize MRAM technology and is in the process of starting a prototype and pilot plant for MRAM production.

The Tegal 6500 series tool features the Spectra ICP plasma source optimized for the etching of magnetic thin films for GMR/TMR magnetic head and MRAM memory device technology. The Spectra reactor is an extension of Tegal's patented dual frequency technology for the patterning of difficult-to-etch metal and metal oxide films based on inductively coupled plasma (ICP) technology. The Tegal 6550 als oincorporates a dual-chamber platform with patented rinse-strip-rinse process capability that is proven to eliminate corrosion in thin magnetic materials. Tegal's approach to magnetic thin film etching includes its proprietary "Stop-on-Dielectric" process capability.