VerifyMe and INX International Expand Partnership and Execute a Supply AgreementFebruary 17, 2021
VerifyMe, Inc. a provider of comprehensive brand protection and customer engagement solutions that combine product smart phone authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, is pleased to announce that after working together for the past 18 months, it has executed a supply agreement with INX International Ink Company (“INX”).
INX will supply VerifyMe with conventional and inkjet inks that incorporate VerifyMe’s RainbowSecureTM marking technology for resale by VerifyMe to customers. The inks are developed and ready for market for metal can decorating, dry offset printing, gravure shrink sleeves, and flexographic fabric printing.
The inks developed, and expected to be developed, under the supply agreement are applicable to a broad range of uses, including aluminum beverage cans and bottles, labels and packaging for cannabis, personal protective equipment, aerospace parts, motor vehicle parts, weapons and ammunition, silicon chips, and medical equipment.
VerifyMe and INX tested its jointly developed new ink technology with a major beverage brand owner experiencing counterfeit and brand protection issues and seeking a deterrent. INX matched the ink used on the beverage cap incorporating VerifyMe’s marking technology and the beverage cap was successfully tested for protection against counterfeiting demonstrating proof of concept.
VerifyMe and INX continue to finalize an ink solution for direct to product marking utilizing continuous inkjet. It is advancing in development and expected to be available in the second quarter of 2021, and is expected to open up additional markets.
VerifyMe Chief Executive Officer Patrick White, commented, “After deciding to co-develop inkjet inks with INX International Ink Company back in May 2019, it is extremely rewarding to see our collaborative work address a counterfeiting problem for a large beverage brand owner. Our strategic partnership enables VerifyMe’s invisible ink technology to be implemented in approximately 95% of the global label and packaging industry. We look forward to continuing to work with INX’s team to make our solutions available to customers worldwide in need for brand protection and to combat counterfeits.”
Previously in May 2019, VerifyMe entered into a strategic partnership with INX International Ink Company, the third largest producer of inks in North America.