Micromem Technologies looks to make a breakthrough in microelectronic memory devices. Micromem develops technology for a new type of non-volatile microchip called magnetic random-access memory, or MRAM. Non-volatile memories retain information even when they are cut off from electrical power. (The most widespread type of non-volatile memory is flash memory, which is used for many applications such as storing lists of phone numbers within cell phones.) Micromem is aiming its technology at several markets, including wireless phones, PDAs, and radio-frequency identification (RFID) equipment. The company has an exclusive license from the University of Toronto.