June 18, 2004
New Subsidiary of X-Change Corporation to Focus on Developing RFID Technology in Oil and Gas Industry
The new subsidary along with X-Change's AirGATE Technologies will develop RFID technology primarily in oil and gas exploration, drilling, and production.
According to Yahoo! Finance:
"We have noticed unique RFID applications beginning to emerge in the petroleum industry, outside of the obvious asset tracking," stated Michael Sheriff, CEO of the X-Change Corporation. "For example, down-hole pressure and temperature recording, device triggering and instrument monitoring are areas of exploration and production that call for remote data transmissions that could be delivered by a specialized RFID application. [...]"
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