Ovonyx, Inc. Announces Agreement with Lockheed Martin To Commercialize Memory Technology
November 04, 1999 11:56
TROY, Mich., Nov. 4 /PRNewswire/ -- Ovonyx, Inc. announced today that it has entered into a royalty-bearing agreement with Lockheed Martin Space Electronics & Communications in Manassas, Va. to commercialize the Ovonyx non-volatile semiconductor memory technology to replace Flash, DRAM, FPGA and other electronic devices in radiation hardened space and military applications.
Ovonyx memory technology uses the reversible phase-change memory process originated by Energy Conversion Devices, Inc. ("ECD") (Nasdaq: ENER) -- the same process that has been commercialized worldwide in re-writeable CD and DVD optical memory disks -- to fabricate a new generation of high-performance, inherently radiation-hard, non-volatile semiconductor memory devices. The companies stated that development of radiation-hardened memory products will be jointly completed in Lockheed Martin's wafer Fab in Manassas, Va.
Ovonyx is a joint venture between ECD and Mr. Tyler Lowrey that was formed to commercialize the proprietary phase-change semiconductor memory technology. The Ovonyx non-volatile memory technology offers significantly faster write and erase speeds and higher cycling endurance than conventional Flash memory. It also has the advantage of a simple fabrication process which allows the design of semiconductor chips with embedded non-volatile memory using only a few additional mask steps.
Tyler Lowrey, President and CEO of Ovonyx, said, "This is the first step in our company's plan to introduce Ovonyx memory technology as a replacement for conventional Flash and DRAM memory -- both for commodity and embedded applications. I believe this collaboration with Lockheed Martin will prove to be a significant one for the future direction of the semiconductor industry. There are many other applications of this game-changing Ovonic Unified Memory which are being pursued for development and commercialization elsewhere."
"This new technology holds the promise of bringing significant benefits to our customers," said Ed Spall, Lockheed Martin's Advanced Digital Solutions Director of Technology New Business in Manassas, Va. "This agreement will allow us to develop new non-volatile products for both memory and logic applications."
Stanford R. Ovshinsky, President and CEO of ECD and Chairman of Ovonyx, stated, "I am pleased that the phase-change memory technology we invented is being commercialized jointly by a company with the technology and manufacturing strength of Lockheed Martin."
A leader in providing advanced electronic systems, information systems and technology products and services, Lockheed Martin Space Electronics & Communications in Manassas, Va. serves customers including U.S. defense and federal civilian agencies, as well as commercial and international customers. Lockheed Martin Space Electronics & Communications is a unit of Lockheed Martin (NYSE: LMT). Headquartered in Bethesda, Maryland, Lockheed Martin is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced-technology systems, products and services. The Corporation's core businesses are systems integration, space, aeronautics, and technology services.
ECD is a leader in the synthesis of new materials and the development of advanced production technology and innovative products. It has pioneered and developed enabling technologies leading to new products and production processes based on amorphous, disordered and related materials, with an emphasis on alternative energy and advanced information technologies. ECD's web site address is ovonic.com .
This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on assumptions which Ovonyx and ECD, as of the date of this release, believe to be reasonable and appropriate. Ovonyx and ECD caution, however, that the actual facts and conditions that may exist in the future could vary materially from the assumed facts and conditions upon which such forward-looking statements are based.
SOURCE Ovonyx, Inc.
/CONTACT: Tyler Lowrey of Ovonyx, Inc., 248-280-1900; or Ed Spall,
Director of Technology and Alliances of Lockheed Martin Corp., 703-367-2471/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 283250/
/Web site: ovonic.com
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