Digimarc Corporation (NASDAQ: DMRC) today announced a major new contract to protect the authenticity of precious metals and building materials and guard the integrity of a national deposit-return system for recycling.
The 5-year contract with an international solutions provider is worth more than $32 million, with the potential to grow significantly based on other optional programs in 2024 and beyond. Under the deal, the Digimarc Illuminate platform will protect the authenticity of gold, silver, platinum, and other precious metals as well as key building materials used in commercial construction.
The contract also marks Digimarc’s entry into a new market adjacency by guarding the integrity of a national deposit-return system (DRS), combining Digimarc’s excellence and expertise in both anti-counterfeiting and recycling to support increased circularity of food and beverage containers.
“This exciting opportunity reflects the reputation for security, scalability, and trustworthiness we have earned through our work with the world’s central banks, combined with the proven power of our technology to fight counterfeits and improve recycling in the commercial world,” said Riley McCormack, CEO at Digimarc. “Moreover, these programs embody who we are and our commitment to changing the world by promoting a prosperous, safer, and more sustainable planet. This contract expands Digimarc’s reach in the security printing world, opening a large and exciting new market segment for our Illuminate platform -- one that reinforces our history, technology, and mission.”
A leading provider of product digitization solutions, Digimarc for decades has delivered technologies deterring counterfeiting of currency for a global group of central banks, a relationship which was recently extended through the end of this decade. In the commercial realm, Digimarc has earned a reputation as a trusted partner by providing product authenticity solutions for the pharmaceutical, tobacco, and other industries.
Digimarc is also recognized for contributing to recycling programs in Europe, France, and Canada. Digimarc Recycle improves plastics recycling at scale, overcoming the limitations of today’s optical sorting technologies to drive a step-change improvement in the quality and quantity of recyclate. With this announcement, Digimarc proudly expands its involvement in the global recycling effort by protecting the integrity of a national DRS program.
“Our commitment to product authenticity and environmental sustainability has never been stronger, and we’re thrilled that our new customer shares the same enthusiasm for leveraging our world-leading product digitization platform to ensure the integrity of every transaction,” McCormack added.
Digimarc Corporation (NASDAQ: DMRC) is a global leader in product digitization. A pioneer in digital watermarks, Digimarc connects every physical and digital item to a digital twin that enables products to inform, instruct, and act. Trusted to deter counterfeiting of global currency for more than 20 years, Digimarc is also recognized for ensuring product authenticity, improving plastics recycling, and more with a commitment to promoting a prosperous, safer, and more sustainable world.
Cut out counterfeit attempts? Reid Fruits and Laava show it’s possible
Over three years, Reid Fruits drastically reduced the number of counterfeit attempts on their premium Tasmanian cherries, sold in Asian export markets where the brand was in high demand and had a strong reputation that was at risk from inferior products sold under fake Reid Fruits branding.
In the 2019-20 season, in a bid to fight the fakes, Reid Fruits introduced Laava Smart Fingerprints® on its cherry boxes bound for 20 export markets. The result: only 10 counterfeit attempts, all of which were automatically stopped by the Laava platform.