Monday, February 6, 2012

Superconductor Technologies Spins Off Subsidiary

Austin-based Superconductor Technologies, the developer of superconducting materials which recently relocated its headquarters to Austin, said today that it has signed a product development agreement, to spin out its Reconfigurable Resonance (RCR) technology. The firm said it has formed a new subsidiary, Resonant Inc., which will be responsible for developing the technology for an un-named, mobile communications firm. The firm said the subsidiary is currently seeking financing, and that it expects to transfer its technology and personnel when that financing is obtained. Name of the mobile communications firm was not announced, and financial terms of the deal were not disclosed. Superconductor Technologies moved its headquarters from California in December.