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Micromem Announces Collaboration with the University of Toronto, DRDC and NSERC on Biochemical Weapons Detection Technology

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Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) has announced a new collaboration with the University of Toronto, Defense Research and Development Canada (DRDC), and the Natural Sciences and Engineering Research Council of Canada (NSERC) to develop advanced biochemical sensors technology. The project, which began in 2023 at the University of Toronto, has already made significant progress in developing artificial intelligence and machine learning capabilities.

The company will receive an exclusive worldwide license to all intellectual property and patents created through the project, which targets both military and commercial applications. NSERC is providing partial funding for the initiative. The project team is led by Doctor Harry Ruda, who previously collaborated with Micromem on a white paper report for Chevron. This new venture expands Micromem's technological capabilities, particularly in detecting environmental contaminants across military and commercial sectors.

Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ha annunciato una nuova collaborazione con l'Università di Toronto, la Defense Research and Development Canada (DRDC) e il Natural Sciences and Engineering Research Council of Canada (NSERC) per sviluppare tecnologie avanzate di sensori biochimici. Il progetto, avviato nel 2023 presso l'Università di Toronto, ha già fatto significativi progressi nello sviluppo delle capacità di intelligenza artificiale e apprendimento automatico.

L'azienda otterrà una licenza esclusiva a livello mondiale su tutta la proprietà intellettuale e i brevetti creati attraverso il progetto, rivolto sia a applicazioni militari che commerciali. Il NSERC sta fornendo un finanziamento parziale per l'iniziativa. Il team del progetto è guidato dal Dottor Harry Ruda, che in precedenza ha collaborato con Micromem su un rapporto white paper per Chevron. Questa nuova iniziativa amplia le capacità tecnologiche di Micromem, in particolare nella rilevazione di contaminanti ambientali nei settori militari e commerciali.

Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ha anunciado una nueva colaboración con la Universidad de Toronto, la Defense Research and Development Canada (DRDC) y el Natural Sciences and Engineering Research Council of Canada (NSERC) para desarrollar tecnología avanzada de sensores bioquímicos. El proyecto, que comenzó en 2023 en la Universidad de Toronto, ya ha logrado avances significativos en el desarrollo de capacidades de inteligencia artificial y aprendizaje automático.

La empresa recibirá una licencia mundial exclusiva para toda la propiedad intelectual y las patentes creadas a través del proyecto, que se dirige tanto a aplicaciones militares como comerciales. NSERC está proporcionando financiación parcial para la iniciativa. El equipo del proyecto está liderado por el Doctor Harry Ruda, quien anteriormente colaboró con Micromem en un informe white paper para Chevron. Esta nueva empresa expande las capacidades tecnológicas de Micromem, particularmente en la detección de contaminantes ambientales en los sectores militar y comercial.

Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF)는 토론토 대학교, 캐나다 국방 연구 개발 기구 (DRDC) 및 캐나다 자연 과학 및 공학 연구위원회 (NSERC)와 협력하여 고급 생화학 센서 기술을 개발할 것이라고 발표했습니다. 이 프로젝트는 2023년 토론토 대학교에서 시작되었으며, 인공지능 및 머신러닝 기능 개발에 중요한 진전을 이루었습니다.

회사는 프로젝트를 통해 생성된 모든 지적 재산권 및 특허에 대한 세계적인 독점 라이센스를 받게 되며, 이는 군사 및 상업적 응용 분야를 모두 목표로 하고 있습니다. NSERC는 이니셔티브에 대한 일부 자금을 지원하고 있습니다. 프로젝트 팀은 이전에 Chevron을 위한 백서 보고서를 Micromem과 공동 작업했던 해리 루다 박사가 이끌고 있습니다. 이 새로운 사업은 Micromem의 기술 능력을 확장하여 군사 및 상업 분야에서 환경 오염 물질을 감지하는 데 중점을 두고 있습니다.

Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) a annoncé une nouvelle collaboration avec l'Université de Toronto, la Defense Research and Development Canada (DRDC) et le Natural Sciences and Engineering Research Council of Canada (NSERC) pour développer des technologies avancées de capteurs biochimiques. Le projet, qui a débuté en 2023 à l'Université de Toronto, a déjà réalisé des progrès significatifs dans le développement des capacités d'intelligence artificielle et d'apprentissage automatique.

L'entreprise recevra une licence exclusive mondiale pour toute la propriété intellectuelle et les brevets créés dans le cadre du projet, qui vise à la fois des applications militaires et commerciales. Le NSERC fournit un financement partiel pour l'initiative. L'équipe du projet est dirigée par le Dr Harry Ruda, qui a précédemment collaboré avec Micromem sur un rapport white paper pour Chevron. Ce nouveau projet élargit les capacités technologiques de Micromem, en particulier dans la détection de contaminants environnementaux dans les secteurs militaire et commercial.

Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) hat eine neue Zusammenarbeit mit der Universität Toronto, der Defense Research and Development Canada (DRDC) und dem Natural Sciences and Engineering Research Council of Canada (NSERC) angekündigt, um fortschrittliche biochemische Sensortechnologie zu entwickeln. Das Projekt, das 2023 an der Universität Toronto begann, hat bereits bedeutende Fortschritte in der Entwicklung von Künstlicher Intelligenz und maschinellen Lernfähigkeiten erzielt.

Das Unternehmen wird eine exklusive weltweite Lizenz für alle geistigen Eigentumsrechte und Patente erhalten, die im Rahmen des Projekts geschaffen werden, welches sowohl militärische als auch kommerzielle Anwendungen anvisiert. NSERC stellt teilweise Mittel für die Initiative zur Verfügung. Das Projektteam wird von Dr. Harry Ruda geleitet, der zuvor mit Micromem an einem Whitepaper-Bericht für Chevron gearbeitet hat. Diese neue Initiative erweitert die technologischen Fähigkeiten von Micromem, insbesondere in der Erkennung von Umweltverschmutzungen in militärischen und kommerziellen Sektoren.

Positive
  • Secured exclusive worldwide license for all IP and patents from the project
  • Partial funding provided by NSERC
  • Project expands company's technological capabilities into military and commercial sectors
  • Development includes AI and machine learning capabilities
Negative
  • None.

Toronto, Ontario and New York, New York--(Newsfile Corp. - February 10, 2025) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ("Micromem" or the "Company") is pleased to announce its new collaboration with the University of Toronto, Defense Research and Development Canada ("DRDC") and the Natural Sciences and Engineering Research Council of Canada ("NSERC"). The primary objectives and goals of this collaboration ("the Project") are to develop cutting-edge technology for military and industrial applications, specifically in the field of state-of-the-art biochemical sensors ("the Technology"). This program was initiated in 2023 at the University of Toronto and has, to date, made significant strides in advancing the Technology. NSERC is providing a portion of the funding for the Project.

Micromem will have an exclusive worldwide license to the intellectual property and any patents created through the Project, which is expected to have application for both military and commercial use. Notable progress to date includes the development of artificial intelligence and machine learning capabilities.

Micromem engaged the University of Toronto to help develop the 'white paper' report that Micromem recently delivered to Chevron, as previously announced. Micromem will be working on this Project, with the same team at the University of Toronto, led by Doctor Harry Ruda.

This initiative represents a significant new opportunity for Micromem, in addition to our current initiatives. It expands our technological capabilities and provides new opportunities in military and in commercial sectors for the detection of environmental contaminants.

Doctor Ruda comments on the participation of Micromem as follows: "Having worked with Micromem previously, we are pleased to welcome Micromem as a key partner in this Project and look forward to the team developing and commercialising new sensing technologies".

About Micromem.
Micromem Technologies Inc. and its subsidiaries, a publicly traded (OTCQB: MMTIF) (CSE: MRM), company analyzes specific industry sectors to create intelligent game-changing applications that address unmet market needs. By leveraging its expertise and experience with sophisticated sensor applications, the Company successfully powers the development and implementation of innovative solutions for oil & gas, utilities, automotive, healthcare, government, information technology, manufacturing and other industries. Visit www.micromeminc.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 forward-looking statements.

The CSE 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.

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Listing: OTCQB - Symbol: MMTIF
CSE - Symbol: MRM
Shares issued: 584,366,086
SEC File No: 0-26005

Investor Contact: info@micromeminc.com; Tel. 416-364-2023 Subscribe to receive News Releases by Email on our website's home page. www.micromeminc.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240206

FAQ

What is the purpose of Micromem's (MMTIF) collaboration with University of Toronto and DRDC?

The collaboration aims to develop cutting-edge biochemical sensors technology for military and industrial applications, with a focus on environmental contaminant detection.

When did MMTIF's biochemical sensors project begin at the University of Toronto?

The project was initiated in 2023 at the University of Toronto.

Who is funding MMTIF's biochemical weapons detection technology project?

The Natural Sciences and Engineering Research Council of Canada (NSERC) is providing partial funding for the project.

What intellectual property rights does MMTIF have in the biochemical sensors project?

Micromem will have an exclusive worldwide license to all intellectual property and patents created through the project.

What technologies are being developed in MMTIF's biochemical detection project?

The project includes the development of artificial intelligence and machine learning capabilities for biochemical sensors technology.

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