Smarter Alloys is a division of Innovative Processing Technologies (IPT), a company setup to commercialize a revolutionary discovery made at the University of Waterloo that makes smart materials much smarter. Our patent-pending process involves the application of a high density power source, such as a laser, to create localized differences in the microstructure of a monolithic part. When applied to Shape Memory Alloys (SMA's), for example, our process imparts multiple functionality to a monolithic part previously only capable of a single function or movement. SMAs are widely used in medical, aerospace, automotive, micro electro-mechanical systems (MEMS), and microelectronics industries. SMA's processed by Smarter Alloys can be programmed to perform the multiple functions currently performed by multiple single-function parts in a component or device, such as an actuator. By reducing the number of parts in a component or device, Smarter Alloys can help manufacturers substantially reduce the cost, weight and size of their products.