This is dated by a few days but sounds interesting...

With ABO, for which patent applications are pending, large volume of data and big images can be captured and stored using lower processing power. It can transmit the data and images from one place to another using lower bandwidth connectivity, particularly without any "loss" of data.
http://sify.com/finance/fullstory.php?id=13867013
Chennai scientist develops new tech for data transfer - Sify.com