Nov 19 2015
Nanotech Security Corp., and HUECK FOLIEN GmbH of Baumgartenberg, Austria today announced the signing of a Memorandum of Understanding which contemplates an operational agreement to collaborate in the production of a colour shifting security feature in optical thin film. The OTF product is anticipated to initially be used in banknotes as threads and then expand into other markets in the future.
The proposed agreement reflects a mutual commitment for extensive co-development work at both companies on equipment and technology over the past year. Working closely together, the alliance will focus on maximizing global opportunities utilizing Nanotech's colour shifting thin film technologies combined with Hueck Folien's large volume production and worldwide distribution channels.
"Hueck Folien has a tremendous reputation and global presence in technical films and high-security features," said Nanotech Chief Executive Officer, Doug Blakeway. "The combination of our next generation technology with Hueck Folien's industry leading production facility and its reputation as a respected and established supplier, make this a perfect fit to provide a new security feature to the banknote industry. We are excited about the significant growth potential in our new alliance."
Both Nanotech and Hueck Folien are respected and established suppliers of security features for banknotes and this collaboration ideally positions both companies to participate in this industry as partners. Financial details of the collaboration were not announced.
Martin Bergsmann, Hueck Folien Chief Executive stated, "Optical thin film is considered to be among the most innovative and disruptive technologies within the security sector. Our collaboration with Nanotech gives us the opportunity to offer leading edge technologies that deliver the next generation of security into a range of growing and attractive market sectors."
About HUECK FOLIEN
Founded in 1970, Hueck Folien GmbH is an independent family-owned company and a worldwide recognized technology leader in the field of high-security features for banknotes and documents as well as first class coatings for optically demanding, functional films. Important brand names of Hueck Folien in these markets are Invigram®, HIPERPRIME®, Viscora®, ColorSwitch®, Safe2® and PictureThread®. Hueck Folien stands for innovative tailor-made product solutions produced on industrial scale with high quality and reliable service.
About Nanotech Security
Through its security and surveillance divisions, Nanotech Security Corp. has been a leading innovator in the design and production of advanced security products and surveillance solutions for a number of years. Nanotech's KolourOptik™ and Plasmogram™ products are nanotechnology based product platforms originally inspired by the unique optical properties of the iridescent wings of the Blue Morpho butterfly. Our security products produce intense, high definition optically-variable images and colour-shift optical thin films. Activated by a simple tilt or rotation, with higher resolutions than the best LED-displays, they are ideal for authentication of currency, passports, and identification cards in addition to distinguishing branded goods from counterfeits. Our surveillance division designs and manufactures sophisticated surveillance and intelligence gathering communications and forensic equipment for the law enforcement and intelligence community as well as runs a state of the art training academy where we provide technical surveillance training to the law enforcement community.
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.
Source: http://www.nanosecurity.ca/