- A Nanotech customer has issued a new purchase order valued at C$690,000
- Nanotech has secured contract services revenue of $7.4 million for fiscal 2021
- Nanotech’s products include security labels, stripes, patches, and colour-shifting foils for currency authentication and brand protection
- Nanotech (NTS) opened trading at $0.59 per share
Nanotech Security Corp (NTS) 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 C$690,000 to continue the advancement of the innovative security feature.
Earlier this year, Nanotech received purchase orders totalling $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.”
Nanotech’s products include secure and memorable security labels, stripes, patches, and colour-shifting foils for currency authentication and brand protection.
Nanotech (NTS) opened trading at $0.59 per share.