YPB Group Limited (“YPB” or “the Company”) is pleased to announce that it has received a purchase order for the amount of $150,000 USD (circa $208,000 AUD) as a licence fee for an order of its proprietary VariSec Foil technology which will be applied to 11 million units of one of the world’s most issued passports.
As per announcement released 31 July 2015, YPB has a Memorandum of Co-operation in effect until June 2019, with Foilmakers Australia Pty Ltd to manufacture and sell YPB’s proprietary VariSec foil under licence.
YPB Chairman and CEO, John Houston said,
“Just as each country progressively moved to e-Passports, we strongly believe that we are similarly starting to see a universal move toward our world-leading proprietary VariSec Foil as the world’s largest passport issuers are beginning to adopt the technology in their next generation of passports. Our chosen route to market of IP licencing ensures ease of scaling as the volumes continue to grow.”
In accordance with ASX GN8 for LRs 3.1-3.1B the Company also advises that there are no further material conditions or information in relation to the fulfilment of the purchase order.
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YPB’s VariSec Foil technology has been applied to over 250 million e-Passports since its development. With an estimated 125 million new e-Passports being issued annually (International Civil Aviation Organisation estimate) by 93 countries and an additional 21 countries expected to issue e-Passports in the coming year there is a significant opportunity for YPB.
YPB’s VariSec technology is believed to be the only security foil in the global ePassport marketplace. The Foil provides an important extra level security for certainty of authenticity of passports and can be applied to many other vital government documents.