LONDON (Alliance News) - Spectra Systems Corp said Thursday that it has partnered with Cool Clean Technologies LLC for the development of a fully productised system that uses supercritical carbon dioxide to clean soiled banknotes.
Spectra has contracted Cool Clean for USD400,000, which will result in the delivery of the first system in November 2014, it said. It has specified unit costs for two types of systems, suited for 300 million and 600 million banknotes per year. The units are being designed for a ten-year life cycle with routine preventative maintenance.
"We are optimistic that the very positive results we have achieved with the various central bank cleaning tests, along with the operator-friendly system being developed to our specifications by Cool Clean Technologies, will position us to introduce the technology at a central bank facility in 2015," said Chief Executive Nabil Lawandy in a statement.
Shares in Spectra were trading up 3.5% at 30.00 pence Thursday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Spectra (unres) (SPSY)