Waterloo, Ontario (PRWEB) September 03, 2016
The Government of Canada has announced that Smarter Alloys™ will receive up to $1.1 million to develop advanced alloys for the automotive industry under the Automotive Supplier Innovation Program (ASIP).
The funding allows Smarter Alloys™ to apply its revolutionary Multiple Memory Material™ technology to produce smart and adaptive automotive parts. The Waterloo-based company’s proprietary innovation uses high-powered lasers to program metals at the atomic level, enabling them to shift from one defined shape to another. Components created from these “smart” alloys will offer auto-parts manufacturers lightweight and reliable alternatives to the bulky systems used today.
“With Multiple Memory Material™, we can replace heavy, complex electromagnetic actuators with a single wire that functions more reliably, more efficiently and more effectively,” said Smarter Alloys™ CEO Ibraheem Khan.
“These projects illustrate how Canada’s automotive suppliers are at the forefront of designing and building the super-efficient cars of the future — cars that are more energy-efficient and better for the environment,” said the Honourable Navdeep Bains, Canada’s Minister of Innovation, Science and Economic Development.
ASIP is designed to help businesses develop and commercialize groundbreaking technologies. “We’re proud the federal government sees the potential in our technology,” said Khan. “We’re looking forward to helping build the cars of the future.”
About Smarter Alloys™
Smarter Alloys™ is at the forefront of the smart materials revolution. Our unique ability to program shape memory behaviour makes it possible to create complex machine-like function in simple devices. Thanks to Multiple Memory Material™ technology, we are transforming the design and utility of shape memory alloys used in automotive, medical, dental, aerospace and consumer industries. Founded in 2010 and based in Waterloo, Ontario, Smarter Alloys™ is a privately controlled Canadian corporation. For more information, visit http://www.smarteralloys.com.