SatCon Subsidiary Film Microelectronics, Inc Introduces New Product for the Smart Card Industry
Tuesday, June 29, 1999 08:02 AM
CAMBRIDGE, Mass.--(BUSINESS WIRE)--June 29, 1999--SatCon Technology Corporation(R) (Nasdaq NM:SATC), today announced that its subsidiary Film Microelectronics, Inc., (FMI), has developed a low-cost version of a Radio Frequency Identification (RFID) card, the next generation of smart card.
Using proprietary thin film technology and a patent pending interconnect concept, FMI will be able to sell the 125kHz category card for about 25% less than current methods. FMI is presently negotiating with several manufacturers to enter into manufacturing agreements....
We're very excited at FMI," said Gary Colello, FMI's General Manager. "This product could represent $5 million in annual sales in a year and growing. These RFID tags have many applications and the lower cost of this new design will make them more affordable. That is the key to expanding their use. With over 1 billion cards shipped per year*, we are positioning FMI to be a choice supplier of RFID components to this rapidly growing market. (*Source Smart Card Industry Association at
www.scia.org).....
More revenue, sounds good to me.
Jim
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