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Nanotech bags $5.0Mn purchase order to further development contract

Author : Pankaj Singh | Published Date : 2019-10-19 

Nanotech Security Corp. is one of the leading firms that develop colour-shifting materials and nano-optics structures which are used in brand enhancement applications and authentication across a broad range of markets such as tax stamps, banknotes, commercial branding and secure government documents. 

The company has made some significant developments with its KolourOptik® and KolourDepth technology platforms and is looking forward to further its innovation in this field.

Recently, Nanotech announced that it has obtained purchase orders worth $5.0 Million to take its confidential development contract ahead. According to reliable sources, Nanotech has produced its revenue from paid development contract which is focused towards designing an exclusive security attribute that would be integral for a future banknote based on KolourOptik® technology

However, as the project remains classified, no additional details such as project timing, financial terms or status can be revealed, but sources suggest that the project has helped Nanotech secure its contract services revenue for fiscal 2020 at similar level to that in 2019.

Speaking on the move, Troy Bullock, President and CEO, Nanotech, said that this award marks as a significant landmark for the company in developing a security feature for its client’s future banknotes. Bullock added that the overall project is developing and the company appreciates the trust its clients have shown in its technology.

For the record, KolourOptik is an advanced digital platform that delivers unparalleled security, allowing governments to safeguard their products with true depth, motion and colour. Nanotech also recently attained three nanotechnology patents.

Reportedly, two out of three patents are granted in Europe and the United States and is intended for nano-structure array diffractive optics used for animation and motion display. Meanwhile, the third patent is granted in Europe for an ionic polymer-metal composite tech based on capacitor.

Sources suggest that these patents would further strengthen Nanotech’s technologies based on diffractive, especially its ability to render multi-frame animations by employing nano-structured pixels as shown in the company’s LiveLogo™ security labels unveiled this year.

 Source Credit: https://www.globenewswire.com/news-release/2019/10/17/1931033/0/en/Nanotech-Wins-5-0-Million-Purchase-Order.html

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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