Precision Dynamics, a maker of health-care and identification products like radio-frequency identification wristbands, and venture capital Convergent Ventures have formed ORFID Corp. The joint venture will develop polymer RFID chips, as opposed to conventional silicon-based RFID chips.
ORFID's polymer chips could cost less and be more flexible because they're made of carbon, rather than silicon, atoms. The company is expected to make both active and passive chips. Health-care businesses could use the technology to monitor patients, track assets, and inventory pharmaceuticals and medical equipment. ORFID also will sell to chip, paper, chemical, and computer companies.
The technology was developed in part by Dr. Yang Yang, professor of materials science and engineering in the School of Engineering and Applied Science at the University of California, Los Angeles.
ORFID's board includes Kenneth Aldrich, a managing director for Convergent Ventures Funds I and II; Gary Hutchinson, president, CEO, and director at Precision Dynamics; and Robert Kraemer, a board member and corporate secretary at Precision Dynamics.