Micromem Technologies Inc's Comment on Sales, Marketing and Customers
The company has undertaken development projects with several strategic partners, including Chevron (2013–2019), Repsol (2018–2019), Castrol (2014–2018), Saudi Aramco (2012–2013), Northeast Utilities (2013–2015), GM/Flextronics (2012–2015), and others (2011–2014). The Chevron project became self-funding after 2016. The Castrol project was suspended in 2018 due to lack of additional funding. The Saudi Aramco contract was completed in 2014. The Northeast Utilities contract was terminated in 2015 because of funding issues. The GM/Flextronics project, which involved prototype development, was suspended by 2016–2017. The company remained pre-revenue as of October 31, 2025, with no development expenses incurred between 2021 and 2025. In October 2023, the company received its first purchase order from Romgaz and completed the initial ARTRA unit; however, further work on this unit was discontinued in 2025. The company is also collaborating with the University of Toronto, submitting a white paper report to Chevron in January 2025.
Customers and markets identified in company filings include Castrol, Chevron, GM/Flextronics, Northeast Utilities, Repsol, Romgaz, Saudi Aramco, and the University of Toronto.
Micromem Technologies Inc’s Comment on Sales, Marketing and Customers
The company has undertaken development projects with several strategic partners, including Chevron (2013–2019), Repsol (2018–2019), Castrol (2014–2018), Saudi Aramco (2012–2013), Northeast Utilities (2013–2015), GM/Flextronics (2012–2015), and others (2011–2014). The Chevron project became self-funding after 2016. The Castrol project was suspended in 2018 due to lack of additional funding. The Saudi Aramco contract was completed in 2014. The Northeast Utilities contract was terminated in 2015 because of funding issues. The GM/Flextronics project, which involved prototype development, was suspended by 2016–2017. The company remained pre-revenue as of October 31, 2025, with no development expenses incurred between 2021 and 2025. In October 2023, the company received its first purchase order from Romgaz and completed the initial ARTRA unit; however, further work on this unit was discontinued in 2025. The company is also collaborating with the University of Toronto, submitting a white paper report to Chevron in January 2025.
Customers and markets identified in company filings include Castrol, Chevron, GM/Flextronics, Northeast Utilities, Repsol, Romgaz, Saudi Aramco, and the University of Toronto.
Sources:
Micromem Technologies Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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