LITTLE FALLS, N.J., May 18, 2009 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTCBB:XDSL), a New Jersey corporation (mPhase), 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 Technologies, Inc.
mPhase is a micro and nanotechnology development company focused on advanced power and sensing solutions. 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.
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