Spectra Systems Corporation G20 Central Bank begins Funding Sensor Development (8720N)
May 14 2018 - 2:00AM
UK Regulatory
TIDMSPSY TIDMSPSC
RNS Number : 8720N
Spectra Systems Corporation
14 May 2018
Spectra Systems Corporation
("Spectra")
G20 Central Bank begins Funding Sensor Development
Spectra Systems Corporation, a leader in machine-readable high
speed banknote authentication and brand protection technologies,
announces that it was engaged on Friday to commence Phase I of a
four-phase funded sensor development with a G20 central bank for
use with polymer banknotes. The successful completion of all phases
is expected to result in a long-term Sensor and Materials Supply
Agreement commencing around 2022.
Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are
excited that one of our polymer security features is on track for
adoption by a G20 central bank. Once completed, this will be a
decade or longer direct sale rather than a license and supply
arrangement through a partner. We expect that this will firmly
establish our capabilities and products for use in the growing
polymer banknote segment of the market".
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274
4700
WH Ireland Limited
Chris Fielding (Head of Corporate Finance) Tel: +44 (0) 20 7220
1650
This information is provided by RNS
The company news service from the London Stock Exchange
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