The company had been reviewing technologies involving rare earths for several years and said this one stood out for its cutting edge science and large global markets.
The technology consists of tiny cube-shaped memory cells with potential to enable massive amounts of data to be stored on smaller, faster memory chips.
The technology is a new type of resistive random access memory that uses tiny nanocubes made from cerium oxides. The technology works by applying jolts of voltage to the nanocube memory cells, changing their state between resistive and conductive to create and store data.
The aim is to design the memory technology for manufacturers to incorporate into their own devices.
Development will be conducted by Australian Advanced Materials, 100% owned by Strategic Elements.
The nanocube memory cells developed by UNSW are 10,000x smaller than a human hair.
AAM is aiming to produce a prototype with a layer of nanocubes within the next six months.
UNSW testing has proven that data can be reliably stored in and retrieved from the nanocube memory cells. Accurately repeating this over 200,000 times in testing also proved exceptional reliability.
UNSW have been working on the technology for over two years. Strategic is looking to commence prototype development as soon as possible and expect this to take six months.
The Company said it has received a number of shareholder queries on the memory technology being developed under licence from UNSW.
It was also extremely pleased with work to date and said additional patent coverage is currently being secured. This is expected to be completed within the next two weeks.
At which time a further update will be provided.
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