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Ovonyx Snapshot
Ovonyx has developed designs for a new type of technology used in nonvolatile memory chips. The technology is known as Ovonic Unified Memory, or phase-change memory, and it is meant to supplant flash memory devices in consumer electronics. The company has licensing and development agreements with several chip makers, including BAE Systems, Elpida Memory, Hynix Semiconductor, Nanochip, Samsung Electronics, and STMicroelectronics. Ovonyx was founded in 1999 by CEO Tyler Lowrey and Ward Parkinson. Energy Conversion Devices (ECD), which originally developed the memory technology, owns about 40% of Ovonyx. Lowrey, Intel, and other investors own the rest of the company.
