Thursday, July 26, 2012
Less than a year after spinning off from Waterloo Engineering, Innovative Processing Technologies (IPT) has been recognized by the Ontario government for its breakthrough Multiple Memory Material (MMM) technology, known for making smart materials smarter. IPT and a Waterloo Engineering team led by mechanical and mechatronics professor Norman Zhou have been awarded market readiness funding by the Ontario Centres of Excellence. Valued at $130,000, this fund will support development and qualification of prototypes specifically for automotive applications.