Micromem Technologies Inc. (MMTIF)

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Powerful statement by MMTIF Today:

Micromem: Update

GlobeNewswire•April 5, 2017Comment
TORONTO and NEW YORK, April 05, 2017 (GLOBE NEWSWIRE) -- Micromem Technologies Inc. (“Micromem”) (“the Company”) (CSE:MRM) (MMTIF) through its wholly owned subsidiary Micromem Applied Sensor Technologies Inc. (MAST), is pleased to announce that it has successfully completed the partitioning alcohol detectability phase with our in-situ interwell tracer detection platform. Our client and joint product development partner, a major oil and gas company, accepted the detection accuracy and repeatability of the system. The client has advised they are proceeding.

This product will be the first of its kind allowing for automated sampling. Accuracy is measured in parts per trillion tracer concentration live at the well head 24 hours a day, 7 days a week, with no manual labor involved.

In conjunction with our partner we have designed a system that is specific to the industry and will meet the needs of the oil and gas business for decades to come. This technology is a prime example of Micromem’s ongoing commitment to the Internet of Things and using technology to make infrastructure smart.