The EU launched a new Spintronics research project called MOSAIC (MicrOwave Spintronics as an AlternatIve Path to Components and Systems for Telecommunications, Storage and Security Applications), which aims to explore a new generation of microwave components and systems based on spintronics.
The basic idea is to exploit the concept of transfer of spin angular momentum from conduction electrons to the local magnetization in a magnetic nano-object. This is a very efficient mechanism for driving very large amplitude magnetization oscillations and thus generating microwave voltage signals in the frequency range from 0.2 GHz up to 65 GHz. The project will not just research these technologies further, but it will also, by developing appropriate microwave systems, demonstrate that spintronics microwave components present an alternative path for telecommunications, data storage and automation, security and control applications.
By the way - just to confuse matters, it seems that there was another MOSAIC project back in 2011, and this has nothing to do with the new MOSAIC project.