Source - LSE Regulatory
RNS Number : 8720N
Spectra Systems Corporation
14 May 2018

Spectra Systems Corporation


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".


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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