Waterloo spin-off wins recognition for smarter alloy technology
Innovative Processing Technologies’ Multiple Memory Material tech receives commercialization funding boost.
Waterloo, On. – Waterloo University spinoff, Smarter Alloys (formerly Innovative Processing Technologies, has been recognized for its Multiple Memory Material (MMM) technology. The company’s technology allows typical memory alloys, which change shape at a specific temperature, to memorize multiple shapes at different temperatures.
IPT and a Waterloo Engineering team, led by professor Norman Zhou, have been awarded $130,000 by the Ontario Centres of Excellence (OCE) to develop prototypes for automotive applications. OCE also awarded, the company’s co-founder and Waterloo mechanical engineering alumnus, Ibraheem Khan, a $50,000 one-year fellowship to help commercialize OCE-funded research.
According to Smarter Alloys, its memory material technology promises to enhance applications of shape memory alloys for microelectromechanical systems (MEMS), medical devices, valves, automotive applications, among others.
The company has developed approximately a dozen prototypes using the MMM technology. Much of the work has taken place on the Waterloo campus by the company, which employs five people from Waterloo Engineering, including graduate students.
Located in the Toronto-based MaRS Discovery District, the company is currently working with a number of clients in the automotive and aerospace sectors.