A Reno company that's developed antenna solutions for wireless applications landed a sale that its chief executive officer says marks an important milestone for Pinyon Technologies.
The company was selected to provide its patented AirWire Antenna technology to Quantum Applied Science & Research of San Diego. Quantum will use the antenna in a wireless electrocardiogram monitoring system.
Financial details weren't disclosed.
Debashis Bagchi, Pinyon Technologies' CEO, said the sale marks the company's transition into full-blown sales efforts after about six years of research and development.
"We have taken those risks out of the company," Bagchi said.
Pinyon posted earlier sales to suppliers including Texas Instruments and Siemens for use in Bluetooth, WiFi and RFID applications. The deal with Quantum marks its entry into the medical field, said Gerardo Gonzalez, managing director of sales for Pinyon.
The company also is talking with about 30 other potential customers, said Bagchi, who is confident that some of the negotiations soon will bring signed contracts. The company looks for licensing deals with technology companies as well as manufacturing products on its own for delivery to end users.
As revenues from the Quantum contract and other deals begins to flow in coming months, Pinyon expects to begin adding a small number of engineering and marketing personnel to the staff of its office in Reno's Meadowood neighborhood.
The wireless antenna developed by Pinyon and purchased by Quantum is about 2 inches by 1.5 inches and as thin as a computer board. Quantum said it outperformed a six-inch-long traditional rubber-coated antenna.
Private held Pinyon has funded its recent development in part with $1.2 million invested in the company in late 2007 by a group that include George Lauro, founding partner of Alteon Capital Partners, a Silicon Valley venture capital and advisory firm.
