Radar Iron is traded on the Australian Stock Exchange and one of the terms of the deal is that Radar Iron will change its name to Weebit Nano Ltd. once the takeover is completed. The deal also includes the raising of A$5 million (about $3.8 million) and is expected to close early in 1Q16 with Radar Iron relisting on the ASX on April 13 with a new ticker name Weebit.
Weebit, founded in 2014, has an R&D agreement with Rice University (Houston, Texas) and has licensed 7 patents on the silicon oxide memory technology being researched there by Professor James Tour.
According to a statement issued by Radar Iron in November 2015, Weebit will be able to show a commercially viable product within 18 months, in other words by mid-2017. In addition, iDavid (Dadi) Perlmutter, a former general manager of the Intel Architecture Group and CEO candidate at Intel, has joined the Radar Iron board of directors.
Professor Tour is well known in the semiconductor materials research sector and has developed multiple memory systems. However, the ability to form a variable resistance memory in nanoporous silicon dioxide has the advantage that it uses the most commonplace insulator material used in integrated circuit manufacturing. Professor Tour has been retained as Chief Scientific Advisor to Weebit Nano.
Professor Tour's work in silicon dioxide dates back to before 2010 when the possibility of forming conductive filaments across insulating silicon dioxide was shown in Tour's lab (see Rice's silicon memristor aims to beat HP ). That work was enhanced in 2014 when it was shown that nanoporous silicon dioxide reduced the forming voltage to less than two volts and eliminated the need for additional material layers to create a "device edge"
Weebit is pitching the technology as a flash memory "killer" that will have the ability to outperform the incumbent non-volatile memory and scale beyond it in terms of physical dimensions.
Weebit said it