REG - Spectra Systems Spectra Systems-SPSC - First Banknote Disinfection System Sold

Spectra SystemsAnnouncement

16/08/2022 07:01

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RNS Number : 0774W  Spectra Systems Corporation  16 August 2022

Spectra Systems Corporation

August 16, 2022

 

Spectra Systems Corporation ("Spectra")

First Banknote Disinfection System Sold for use by an Asian Central Bank

Spectra Systems Corporation, a leader in machine-readable high speed banknote
authentication, brand protection technologies and gaming security software is
pleased to announce that it yesterday received an order for a Banknote
Disinfection System (BDS) to be installed at an Asian central bank. The BDS
system contributes to the safety of central bank staff who handle banknotes
incoming from circulation, which may carry bacterial and viral pathogens.
Spectra's BDS units are capable of disinfecting banknotes of varying volumes
in one hour, even when strapped or in sealed bags, and range in price from
$150,000 to $800,000.

The Banknote Disinfection System is based on Spectra's patented technology
which utilizes an oxygen-free environment and heat to eliminate a broad
spectrum of pathogens from mould to SARS-2 on both paper and polymer banknotes
The removal of oxygen prevents oxidative damage of the substrate and the
costly security features from taking place.  The system is a plug and play
technology which does not require external gasses as it extracts oxygen from
the air and pumps pure nitrogen into the heating unit.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "The BDS system is yet
another example of our ability to provide cutting edge solutions to the
world's central bank customers when they need them and in record time.
Whilst this first sale is not expected to materially impact our performance
this year, we are optimistic that it  will open the door to additional sales
as central banks are seeing higher demands for cash with rising inflation
while processing staff continue to struggle with pathogens ranging from common
E. coli to Sars-2 and now monkeypox."

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

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 (Head of Corporate Finance)

 Allenby Capital Limited (Joint Broker)                   Tel: +44 (0)20 3328 5665

 Nick Naylor/James Reeve (Corporate Finance)

 Amrit Nahal (Sales and Corporate Broking)

 

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