Haydale Graphene Industries PLC (LON:HAYD) has filed a new patent application in the UK for its PATit anti-counterfeiting technology, which uses proprietary software codes and a specialty graphene-based, transparent conductive ink.
The advanced materials group said it wants to target the anti-counterfeiting market as it is expected to double over the next four years to be worth more than US$200bn by 2021.
Haydale added that the filing of the application is an important in allowing it to begin discussions on potential commercial applications of the technology.
The combination of the firm’s ink and software allows an anti-counterfeiting machine to ‘read’ the ink when printed onto a product’s packaging or label in order to prove its authenticity.
Because the ink is transparent, Haydale expects the technology will be a hit with clients as it won’t alter their products’ packaging design, while verification can be carried out by using a smartphone or tablet.
Fag packets and food wrappers
"This filing allows us to start commercial discussions with potential customers for our speciality graphene-based inks developed by our Thailand operation,” said chief executive Ray Gibbs.
“The Asia-Pacific region is forecast to be the fastest growing region for anti-counterfeiting packaging and we are ideally placed to maximise on this exciting and growing market opportunity.
“We are exploring areas of interest from governments and producers seeking to protect brands and reduce the growing incidence of counterfeit goods.
Gibbs added: “The immediate targets for licensing of our technology will be in markets such as tobacco, pharmaceuticals, and food and beverage."
Haydale shares edged 1.5% higher to 119.8p at the open.