Two New Xerox Products Leverage Thinfilm's Printed Memory Technology to Combat Counterfeiting of Pharmaceuticals and Governmental Tax Stamps
OSLO, Norway, September 14, 2015 - Thin Film Electronics ASA ("Thinfilm") (OSE: THIN.OL; OTCQX: TFECY), a global leader in printed electronics and smart systems, today announced that Xerox (NYSE: XRX), the global business services, digital printing, and document management company, will launch two new products that feature Thinfilm Memory(TM) - Xerox® Printed Memory and Xerox® Printed Memory with Cryptographic Security. The Xerox Printed Memory solutions are geared toward supply-chain security applications and provide anti-counterfeiting capabilities for pharmaceutical products, governmental tax stamps and refill authentication.
Traditional anti-counterfeiting methods such as invisible ink, holograms and RFID tags can be easily copied and hacked, and are often expensive to implement. By integrating Thinfilm Memory with advanced security printing and digital cryptography, the solutions are inexpensive and difficult to counterfeit as every stamp is uniquely encrypted and can only be created by authorized personnel. In addition, key features of the solution will work offline, enabling secure validation of an object or process without being bound to the Internet.
Rewritable data within each tag can identify if a medication refill has been authorized, a shipping tax has been paid, or whether a package passed through an authorized distributor. Using a smartphone-based reader, printed memory tax stamps can be used for tracking and tracing the location of packages, authentication and verification of a product's information.
"Keeping ahead of counterfeiters is a complex challenge that requires an unprecedented level of security in a growing global market," said Davor Sutija, Thinfilm's chief executive officer. "We are pleased to provide Xerox and its customers with another layer of defense to combat counterfeiting across multiple industries. Xerox has a history of innovation in this market, and its advanced solution expands the use of printed memory technologies for security and authentication."
Tax or revenue stamps are issued on behalf of international, national or local governments, their licensees or agents, and indicate that a tax or duty has been paid. Tax stamp security and authentication systems enable governments to protect revenues generated by tax stamps, estimated to be in the billions of dollars..
"We see a significant opportunity for printed, flexible electronics to make an impact across a range of industries," said Steve Simpson, vice president, responsible for Xerox printed labels. "By building upon Thinfilm's printed memory technology, we were able to develop an innovative, anti-counterfeiting solution and launch the next phase of the project, which will bring the solution to the market."
In December 2014, Xerox licensed Thinfilm's proprietary printed memory, the only printed, rewritable memory commercially available today. Under this licensing agreement, Xerox plans to produce this innovative security platform in high-volumes at its plant in Webster, New York.
About Thin Film Electronics ASA
Thinfilm is a leader in the development and commercialization of printed electronics and smart systems. The first to commercialize printed, rewritable memory, the Company is creating printed systems that include memory, sensing, display, and wireless communication (NFC), all at a low cost unmatched by traditional electronic technologies. Thinfilm's roadmap integrates technology from a strong and growing ecosystem of partners to enable the Internet of Everything by bringing intelligence to disposable goods.
Thin Film Electronics ASA ("Thinfilm") is a publicly listed Norwegian company with headquarters in Oslo, Norway; product development and production in Linköping, Sweden; product development, production, and business development in San Jose, California, USA; and sales offices in the United States, Japan, Hong Kong and Singapore. www.thinfilm.no
# # #
For more information on Thinfilm please contact:
Bill Cummings Jennifer Smith
Thin Film Electronics ASA Blanc & Otus for Thin Film Electronics ASA
VP, Marketing & Communications +1 415 856 5152
+1 408-503-7312 jsmith@blancandotus.com
bill.cummings@thinfilm.no www.blancandotus.com