RCS - Spectra Systems - Certified Circular Polymer Banknote Substrate

Spectra SystemsAnnouncement

03/04/2024 07:15

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RNS Number : 0508J  Spectra Systems Corporation  03 April 2024

RNS Reach

 

April 3, 2024

 

Spectra Systems Corporation

 

("Spectra Systems" or the "Company")

 

Spectra Systems Commercializes the World's First Certified Circular Polymer
Banknote Substrate: Guaranteeing the world's central banks and the public that
their currency is part of an audited mass-balanced recycled plastics supply
chain.

 

Over the last several decades many central banks have utilized polymer
substrates rather than paper to manufacture their banknotes, a shift that
started in Australia in 1988.  Currently, over 60 countries utilize
polypropylene as a substrate, with roughly 30% of them using polymer across
all denominations.

 

In 2019, Spectra Systems (SPSY.L on London Stock Exchange) was the first to
introduce the world's first high-speed machine-readable polymer substrate with
covert signatures within the polymer to include the substrate in the security
chain of polymer banknotes (Currency News,17 (8),2019 and Currency News, 20
(9) 2022).

 

Spectra Systems is again changing the landscape of polymer banknotes by
announcing the world's first polymer banknote substrate that is part of a
mass-balanced recycling supply chain certified by the International
Sustainability and Carbon Certification (ISCC) PLUS process.  Spectra
Systems, through its security printing subsidiary, Cartor Security Printers in
the United Kingdom, has recently obtained ISCC PLUS certification.  The ISCC
PLUS certification allows Spectra Systems to maintain a fully audited
mass-balance supply chain using polymer sourced and produced by our exclusive
partners, Toray Plastics America to provide print-ready substrates for
banknote production.

 

Our commercially available FUSION(TM)Circular Polymer banknote substrate
ensures that for every kilogram of polymer utilized in the substrate, an equal
amount of polymer was recycled and repurposed as part of a sustainable supply
chain.

 

The use of Certified-Circular Polymer based on advanced recycling of plastics,
has many points of environmental impact.  These include:

 

·    Using plastic waste as an alternative to fossil fuels

·    Additional end of life options for plastic waste

·    Diversion of significant amounts of plastic waste from landfills or
incineration

·    Expanding the range of plastic waste that can be recycled

 

Spectra Systems will be presenting this newly commercialized substrate and its
impact on the industry and the environment at the upcoming Banknote 2024
conference in Fort Worth, Texas from May 13 to 16 2024.

 

Commenting, Dr. Nabil Lawandy, Chief Executive Officer, said:  "Spectra
Systems, as an engaged corporate citizen supporting a sustainable global
environment, is proud to bring this product to the banknote industry.  This
undertaking is yet another demonstration of how Spectra Systems is always
innovating and bringing new technology and capabilities to our customers to
meet their needs."

 

Enquiries:

 Spectra Systems Corporation                                               Tel: +1 (0)401 274 4700

 Dr. Nabil Lawandy, Chief Executive Officer

 WH Ireland Limited (Nominated Adviser and Joint Broker)                   Tel: +44 (0)20 7220 1650

 Chris Fielding / James Bavister / Andrew De Andrade (Corporate Finance)

 Fraser Marshall (Corporate Broking)

                                                                           Tel: +44 (0)20 3328 5665

 Allenby Capital Limited (Joint Broker)

 Nick Naylor/James Reeve (Corporate Finance)

 Amrit Nahal (Sales and Corporate Broking)

 

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