Spectra gets first order for banknote disinfection system
By Josh White
Date: Tuesday 16 Aug 2022
(Sharecast News) - Authentication and security technology specialist Spectra Systems has received an order for a banknote disinfection system (BDS) to be installed at a central bank in Asia, it announced on Tuesday.
The AIM-traded firm said the system would contribute to the safety of central bank staff, who handle banknotes incoming from circulation which could carry bacterial and viral pathogens.
It said the units were capable of disinfecting banknotes of varying volumes in one hour, even when strapped or in sealed bags.
The system was based on its patented technology, which uses an oxygen-free environment and heat to eliminate a "broad spectrum" of pathogens from mould to SARS-2 on both paper and polymer banknotes.
Spectra explained that the removal of oxygen would prevent oxidative damage of the substrate, and the "costly" security features on the banknotes, from taking place.
The system was described as a "plug and play" technology, which did not require external gases as it extracts oxygen from the air and pumps pure nitrogen into the heating unit.
"The BDS system is yet another example of our ability to provide cutting edge solutions to the world's central bank customers when they need them and in record time," said chief executive officer Dr Nabil Lawandy.
"Whilst this first sale is not expected to materially impact our performance this year, we are optimistic that it will open the door to additional sales as central banks are seeing higher demands for cash with rising inflation while processing staff continue to struggle with pathogens ranging from common E. coli to SARS-2 and now monkeypox."
At 1412 BST, shares in Spectra Systems Corporation were down 1.91% at 133.4p.
Reporting by Josh White at Sharecast.com.
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