16th Aug 2022 13:31
Spectra Systems Corp - Rhode Island, US-based authentication technology provider - Sells first banknote disinfection system to an Asian central bank. Says that the system will contribute to the safety of the bank's staff who handle banknotes, which may carry bacterial and viral pathogens. Adds that the units, which range in price from EUR150,000 to EUR800,000, are capable of disinfecting banknotes of varying volumes.
"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 company explains
Chief Executive Officer Nabil Lawandy says: "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."
Current stock price: 135.90 pence
12-month change: down 11%
By Sophie Rose; [email protected]
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