Nanotech Wins $690,000 Purchase Order
VANCOUVER, British Columbia, April 07, 2021 (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 purchase orders to advance its development contract with a confidential central bank to the next stage.
Over the past five years, Nanotech has generated revenue from a paid development contract to design a unique security feature for a future banknote based on the Company’s nano-optic technology. Nanotech’s confidential customer has issued a new purchase order valued at $690,000 to continue the advancement of the innovative security feature. Earlier this year, the Company received purchase orders totaling $6.7 million for fiscal 2021. With this award, Nanotech has secured contract services revenue of $7.4 million for fiscal 2021, 21% higher than 2020, with an opportunity for an additional $720,000 later this summer. 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.
“The customer’s confidence in our technology and their decision to increase investments this year is validation of the project’s success,” said Troy Bullock, President and CEO. “The project continues to progress well overall and we are working closely with our customer to deliver a feature that meets their unique requirements.”
FORWARD LOOKING STATEMENTS
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.
|Nanotech Security Corp.:||US Investor Relations:||Canada Investor Relations:|
|Kelley Ryshak||Matthew Selinger||Sean Peasgood|
|[email protected]||[email protected]||[email protected]|
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