18 August, 2003
category: RFID
Backers of RFID chips banking on Alien concept
“The funding brings Alien’s total venture funding to $128 million to date. Much of that has been used to build the existing Morgan Hill plant, which will make about 1 billion RFID chips this year, says Alien CEO Stavro E. Prodromou. The company also recently got some $35 million in loans and grants from municipalities connected with its plans to build a new factory in North Dakota which will have capacity to churn out 20 billion tags annually. That gives the company some $73 million to execute on its ambitious business plan.”