Southport, Connecticut (PRWEB) May 19, 2014
Vener8 Technologies, a technology holding company, today announced General Electric Company through its GE Ventures Licensing operation as its first corporate partner. In addition, Vener8 announced the launch of KemSENSE Inc. as its first subsidiary.
Vener8 is working with GE Ventures Licensing to identify, license, and commercialize proprietary technologies as stand-alone businesses. To this end, Vener8’s KemSENSE subsidiary has licensed the rights to commercialize GE’s radio-frequency (RF) sensing technology.
“GE has been one of the world’s great innovation engines for more than 100 years. We’re honored to combine our knowledge of platform technologies and execution capability with GE’s technologies.” said Anton Simunovic, Chairman and CEO of Vener8.
“The Vener8 team has a proven track record of successfully investing in and operating technology businesses. We look forward to supporting Vener8’s efforts to commercialize game changing technology.” stated Michael Petracci, President of GE Ventures Licensing.
Developed over the past decade, GE’s RF sensing technology applies proprietary sensing materials, algorithms and hardware to off-the-shelf, disposable RFID tags to enable the detection of a wide-range of chemical, physical and biological properties at the parts per billion and even parts per trillion range.
Today, KemSENSE is working closely with industry to turn billions of passive RFID tags into “smart” chemical sensing networks in the areas of food safety, medical packaging, agriculture, anti-counterfeiting and pharmaceuticals. This battery-free, disposable, wireless sensing technology can provide data on multiple physical and chemical properties, through plastic, glass, wood, soil and other interferences, in real-time.
About Vener8 Technologies
Vener8 is a technology holding company that commercializes proven technologies from leading corporate partners. By focusing on the intersection of platform technologies in large markets facing technical challenges, with entrepreneurial teams of vision, execution, and sales capability, Vener8 is building businesses that matter.