Micromem Technologies Inc. announced it has been advised that the algorithms for the analytics will be complete in time for installation on the 2 Initial Units that were previously announced. The University and WING have selected project leads and teams for the analytic solutions, ARTRA technology and powerline monitoring (PLM) work. The Company expects the work plan and the milestone requirements for the lab units, followed by field trials schedules, will be completed during this month, along with the full timetable for an anticipated successful deployment of the technology.

The analytics opportunity includes a variation of algorithms that are being developed for use in the electrical industry and is not limited to the ARTRA technology hardware. Micromem is preparing a draft of the proforma on the analytics component of the project. The final proforma will require approval by all the final project subscribers.

The Company will issue separate releases with further information on the full timetable, proforma details, and an update on the Transelectrica proposal and project.