Vancouver, BC (GLOBE NEWSWIRE) - Nanotech Security Corp. (TSXV: NTS) (OTCQX: NTSFF) (“Nanotech” or the “Company”), a leader in the development of secure and visually memorable nano-optic security features used in the government and banknote and brand protection markets, announces it has been awarded the remaining fiscal 2021 purchase orders in its development contract with a confidential central bank.
Nanotech’s confidential customer has issued new purchase orders totaling $690,000 to continue the advancement of the innovative security feature. Over the past five years, Nanotech has generated revenue from a paid development contract to design a unique nano-optic security feature for a future banknote. With this award, Nanotech expects contract services revenue from this central bank to exceed $7.8 million for fiscal 2021, representing a 27% increase over 2020 (subject to foreign exchange fluctuations). Due to the confidential nature of the project, no further details of the project status, timing, or financial terms can be disclosed at this time.
“We are thrilled with the continued confidence this important customer has shown in our technology,” said Troy Bullock, President and CEO. “With our 2021 awards finalized, we are now working with this central bank to accelerate the project, including finalizing our next multi-year contract and purchase orders for next year.”
This news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to anticipated developments in our operations in future periods and events or conditions that may occur in the future. When used in this news release, the words such as “plan”, “expects”, “pursue”, “will”, and similar expressions or statements generally identify forward-looking statements. These statements reflect our current expectations. In light of the risks and uncertainties, there can be no assurance that the forward-looking statements contained in this news release will be realized.
With billions of security features in circulation, Nanotech’s products include secure and memorable security labels, stripes, patches, and colour-shifting foils for currency authentication and brand protection.
KolourOptik® is a patented visual technology that is exclusive to the government and banknote market and combines sub-wavelength nanostructures and microstructures to create modern overt security features with a unique and customizable optical effect. KolourOptik pure plasmonic colour pixels produce full colour, 3D depth, and movement used in security stripes and threads that are nearly impossible to replicate.
LiveOptik™ is a patented visual technology that utilizes innovative nano-optics one tenth the size of traditional holographic structures to create next generation overt security features customized to our customers’ unique requirements. LiveOptik delivers multi-colour, 3D depth, movement, and image switches for secure brand protection stripes, threads, and labels that are nearly impossible to replicate.
Additional information about Nanotech can be found at the Company’s website www.nanosecurity.ca, the Canadian disclosure filings website www.sedar.com or the OTCMarkets disclosure filings website www.otcmarkets.com.
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