mPhase Technologies, Inc.
(OTCBB:XDSL), a micro and nanotechnology development company focused on
advanced power and sensing solutions, today announced that it's thrilled Lucent
Government Systems (LGS) and Alcatel-Lucent Bell Labs have successfully demonstrated
a prototype Microcompass Magnetometer to the U.S. Army.
In March 2005, mPhase entered into a joint development agreement with Alcatel-Lucent
Bell Labs to develop magnetometer technology for military and commercial applications.
Under the terms of the agreement, mPhase would be due royalties if the magnetometer
is successfully commercialized.
Ronald Durando, the CEO of mPhase said, "We are excited that the original
funding mPhase provided to the technical team for work started under the joint
development agreement, with the then Lucent Bell Labs, has allowed the program
to move from the research phase, to a developed prototype that appears to have
successfully met the needs of the Army.".
mPhase designs and develops proprietary technology by manipulating matter at
the scale of atoms and molecules, controlling properties at the micro- and nanometer
levels, and packaging solutions into products that provide value to customers.
The SmartBattery(tm) one of the projects that mPhase is developing, offers a
revolutionary approach to energy storage and power management.