Summary
NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store, and transmit information in the United States and internationally. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches. The company also offers spintronic couplers for industrial Internet of Things market. In addition, it undertakes contracts for research and development, and licensing of spintronic magnetoresistive random access memory technology. NVE Corporation was founded in 1989 and is headquartered in Eden Prairie, Minnesota.
History
NVE Corporation was founded as Newvector Inc. in 1989 by its current President, CEO, and Chairman, Daniel A. Baker, Ph.D. In 1990, the company reorganized and changed its name to NVE Corporation. In 1998, the company went public on the NASDAQ stock exchange. It began building its Sensor Products Division in 2002 and introduced its first MRAM product line in 2003. NVE continues to refine and expand its products and has achieved numerous awards for its technological innovation.
Mission
NVE Corporation is committed to developing and delivering advanced spintronic products and technologies to improve the performance of our customers' products and services.
Vision
NVE Corporation's vision is to be the global leader in spintronics innovation, providing our customers with advanced products and solutions that help them succeed.
Key Team
Mr. John K. Myers (VP of New Bus. Devel.)
Mr. Jay L. Brown (VP)
Recognition and Awards
NVE Corporation has won numerous awards, including an R&D 100 Award in 2013 for its sensor technology, the Minnesota High Tech Association's Tekne Award for technical innovation in 2017, and the NASA Spinoff Award in 2018. The company has also been placed on both the MIT Technology Review's list of '50 Smartest Companies' and the Inc. 5000 list of the fastest-growing private companies in the US for several years in a row.
References
United States 