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PRESS RELEASE |
NVE Awarded Grant for High Throughput Salmonella Detector
EDEN PRAIRIE, Minn.September 22, 2016NVE Corporation (Nasdaq: NVEC)
has been awarded a grant by the United States Department of Agriculture (USDA)
National Institute of Food and Agriculture (NIFA) titled, High Throughput
Salmonella Detector.
The two-year project will focus on detecting live Salmonella organisms
in industry-relevant large sample volumes faster, and with significantly higher
sensitivity than state-of-the-art methods.
The grant is for approximately $600,000.
A link to the project summary can be found on the In the News page
of the companys Website (www.nve.com).
NVE is a leader in the practical commercialization of spintronics, a nanotechnology
that relies on electron spin rather than electron charge to acquire, store and
transmit information. The company manufactures high-performance spintronic products
including sensors and couplers that are used to acquire and transmit data. NVE
has also licensed its spintronic magnetoresistive random access memory technology,
commonly known as MRAM.
Statements used in this bulletin 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
related to future contract research and development revenue, risks related to
the reduction, delay, or elimination government funding, risks associated with
a failure to meet stringent technical requirements, as well as the risk factors
listed from time to time in our filings with the SEC, including our Annual Report
on Form 10-K and other reports filed with the SEC. The company undertakes no obligation
to update forward-looking statements in this press release.
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