They now have "signed memorandums of understanding"

A memorandum of understanding (MOU or MoU) is a formal agreement between two or more parties. Companies and organizations can use MOUs to establish official partnerships. MOUs are not legally binding but they carry a degree of seriousness and mutual respect, stronger than a gentlemen's agreement.

Sounds very promising.

Dr. T moving to a consultant/director's role may suggest the initial rounds of his development and testing are sound. He is there to ensure the technology remains on track and guide its development and progress into the future. To "accelerate development of new technology and product applications" Sounds like he will be concentrating on the next generation progression.

This news release is extremely positive.