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Spectra gets two patents for 'TruBrand' in China
18th Nov 2020 15:56
(Sharecast News) - Banknote authentication and security technology company Spectra Systems has "significantly strengthened" its patent position, it announced on Wednesday, through the issue of a patent for its 'TruBrand' technology in China.
The AIM-traded firm described the technology as "the only materials-based smartphone authentication technology of its kind", adding that it was being "aggressively promoted" for use with tobacco products in China.
It achieved early-stage annual sales volumes of 12 million packs for the 2020 calendar year.
The patent protection would be for 20 years from the filing date in July 2016.
"The issuance of a patent for our TruBrand technology in China is a significant milestone for the company," said chief executive officer Dr Nabil Lawandy.
"With over 200 billion cigarette packs sold in China annually and an investment of over two years in marketing this product, we are extremely pleased to have our intellectual property protected by the Chinese government."
At 1433 GMT, shares in Spectra Systems were up 0.54% at 185p.
The AIM-traded firm described the technology as "the only materials-based smartphone authentication technology of its kind", adding that it was being "aggressively promoted" for use with tobacco products in China.
It achieved early-stage annual sales volumes of 12 million packs for the 2020 calendar year.
The patent protection would be for 20 years from the filing date in July 2016.
"The issuance of a patent for our TruBrand technology in China is a significant milestone for the company," said chief executive officer Dr Nabil Lawandy.
"With over 200 billion cigarette packs sold in China annually and an investment of over two years in marketing this product, we are extremely pleased to have our intellectual property protected by the Chinese government."
At 1433 GMT, shares in Spectra Systems were up 0.54% at 185p.