NVE Corporation Provides MRAM Update
EDEN PRAIRIE, Minn.--March 19, 2004--NVE Corporation (NasdaqSC: NVEC) is providing
the following update on the status of its MRAM partnerships.
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Cypress Semiconductor has made working MRAM using NVE intellectual property.
Ralph Schmitt, Cypress Semiconductor's Executive Vice President of Sales and Marketing,
said "we feel very confident that we are close to having a production-ready product."
Under a technology exchange agreement, NVE has rights to Cypress Semiconductor's
MRAM designs, rights to modify such designs, and rights to have MRAM manufactured
at Cypress Semiconductor's foundry.
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Motorola, Inc. has said it expects to begin MRAM production by late 2004.
NVE believes that the MRAMs Motorola has described publicly contain NVE's intellectual
property. NVE expects to receive royalties if Motorola's production devices contain
NVE's intellectual property.
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NVE plans to further monetize its MRAM intellectual property with additional
license agreements. |
For more information, NVE maintains Frequently Asked Questions in the investor
section of its web site (www.nve.com).
MRAM is a revolutionary memory fabricated using nanotechnology which uses electron
spin to encode data. MRAM has been called the "holy grail" of memory because it
has the potential to combine the speed of SRAM, the density of DRAM, and the non-volatility
of flash.
NVE is a leader in the practical commercialization of spintronics, a nanotechnology
which many experts believe represents the next generation of microelectronics.
NVE licenses its MRAM intellectual property and sells spintronic products including
sensors and couplers to revolutionize data sensing and transmission.
Statements used in this press release that relate to future plans, events,
financial results or performance are forward-looking statements that are subject
to certain risks and uncertainties including, among others, such factors as uncertainties
relating to MRAM production by our licensees, our dependence on Cypress for potential
supply of MRAM devices, risks relating to making commercially viable MRAMs, as
well as the risk factors listed from time to time in the company's filings with
the SEC, including our Annual Report on Form 10-KSB and other reports filed with
the SEC. |
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