REG - Spectra Systems Spectra Systems. - G20 Central Bank begins Funding Sensor Development

Spectra SystemsAnnouncement

14/05/2018 07:05

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
 



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