VerifyMe’s Security Ink Expands to 95% of the Label and Packaging Market
Rochester, NY (GLOBE NEWSWIRE) - VerifyMe, Inc. (OTCQB: VRME), a digital technology solutions provider specializing in counterfeit prevention, authentication, serialization, track and trace features for labels, packaging and products, announced today it has entered into a strategic partnership with INX International Ink Company, the third largest producer of inks in North America.
INX International is going to co-develop inkjet inks to be used for inkjet printing in combination with high speed, high volume label and packaging printing presses called “flexo” or “roll fed” printing presses. The specially formulated inks will enable these printing presses to print VerifyMe’s RainbowSecure™ invisible ink technology, which includes our variable VeriPAS Serialization, track and trace technology.
Currently, the VerifyMe’s RainbowSecure™ ink technology has only been available on the HP Indigo digital 6000 series press platforms. This development greatly expands (over 20 times) VerifyMe’s penetration into the global printing of labels and packaging. VerifyMe estimates that this strategic partnership with INX and their Ink Jet Ink development enables VerifyMe’s invisible ink technology to be implemented in approximately 95% of the remaining global label and packaging industry.
VerifyMe Chief Executive Officer Patrick White commented, “This is a significant milestone for our Company, as we expand the global availability of our RainbowSecure™ technology by over 20 times. This will allow us to compete for many of the very large print job opportunities that are printed by the high speed, high volume label and packaging printing industry.” White continued, “Our technology will soon be available on industry leading industrial ink jet heads used for variable printing in the high-speed label and packaging industry. With this new ink jet solution we will available to service virtually all of the global label and packaging manufacturers around the world. This is a key development to expand our revenue opportunities. Our first marketing launch will be at Label Expo Europe this September with the INX NW210 UV/LED Digital Press, utilizing some of the latest printhead technology.”
INX International’s President and Chief Executive Officer, John Hrdlick, commented, “We are excited to work with VerifyMe to bring their proprietary security, authentication and tracking technology to label and packing manufacturers around the world. We are strong believers in delivering what the customer wants, and there is a huge demand for brand protection and anti-counterfeiting. We look forward to working with VerifyMe’s team to bring their solutions to market.”
About INX International
INX International Ink Co. is the third largest producer of inks in North America, with full service subsidiaries in Europe and South America and is part of Sakata INX worldwide operations a $1.5 billion company established in 1896. INX offers a complete line of ink and coating solutions technology for commercial, packaging and digital applications. As a leading global manufacturer of inkjet inks, INX provides a full palette of digital ink systems, advanced technologies and integrated services. To stay in touch with the latest developments, follow INX on Facebook and Twitter and visit: https://inxinternational.com
About VerifyMe, Inc.
VerifyMe, Inc., is a technology solutions company that markets products supported by patents, patent applications and trade secrets which provides identifiers and serialization for authenticating, tracking and tracing functions for labels, packaging and products. The company also markets multi-factor biometric verification solutions to verify people. VerifyMe’s physical technology authenticates packaging, labels and documents with a suite of proprietary security inks and pigments, which work in conjunction with serialization and track-and-trace software. The company’s digital technologies authenticate people by performing strong, multi-factor biometric verification via its patented digital software platforms. To learn more, visit www.verifyme.com
Cautionary Note Regarding Forward-looking Statements
This release contains forward-looking statements regarding expansion of revenue opportunities, the use of our products in additional presses and locations, the results of ongoing tests, and roll-out of our products and authentication devices which involve uncertainty and risk. The words "believe," "may", “estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the company's ability to work with partners in selling its technologies to businesses, production difficulties, our inability to enter into contracts and deals with future partners, andissues which may affect the reluctance of large companies to change their purchasing of products, andacceptance of our technologies. , the efficiency of our authenticators in the field and our patents including potential litigation. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2018. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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SOURCE: VerifyMe, Inc.