Nanotech Security Corp. today announced that it has received additional purchase orders for optical thin film security features for banknotes from three new international customers. These orders follow extensive pilot programs conducted by each customer, which included not only thorough laboratory quality control tests but also test deployments in the local economy.
One of these new customers recently placed a follow-on order, and the outlook for future orders is improving. This improved outlook and the growing pipeline of other commercial opportunities has prompted Nanotech to increase capacity at its recently acquired Thurso, Quebec facility by adding a second shift. Details of the new orders were not released but are in the low seven digits.
Nanotech CEO Doug Blakeway commented, “We are told that our thin film security features surpass our customer’s expectations and that the successful field trials have generated significant interest amongst banknote issuing authorities internationally.” He added, “We are pleased with the way the integration of our recent Fortress Optical Features acquisition is shaping up and are both anticipating and receiving significant new end-user and industry interest in our technology. This has been an encouraging start to 2015, which we feel will be a transition year.”
According to Secura Monde International (“SMI”), leading independent experts in the banknote industry, the colour-shift threads category has shown the fastest growth of adoption by banknote issuing authorities by number of denominations using this feature. Entering into 2015 there are 67 issuing authorities using colour shift threads in 178 denominations. SMI believes security threads will continue to be a highly important feature in banknote security due to the continued threat from counterfeiting.