Dotz Nano to crack down on fakes at Tokyo Olympic games; gains 34pc
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Microscopic, anti-counterfeiting tags from Dotz Nano are bound for the 2020 Tokyo Olympics, as part of the company’s first major order.
Dotz Nano will bank $135,000 for an order of blue and green Graphene Quantum Dotz (GQDs) to be used for anti-counterfeit printing dyes.
Dotz Nano (ASX:DTZ) shares closed up 34 per cent after the announcement on Tuesday.
Chief executive Moti Gross said the first major order to Asia would pave the way for greater recognition of the technology.
“The GQDs bound for the anti-counterfeiting markets are aimed at being used in printing dyes to several companies involved in current anti-counterfeiting mechanisms, several of which, in my opinion, are aimed at the upcoming 2020 Tokyo Olympics,” he said.
“Dotz believes this will make future sales much easier as commercial risks are now significantly reduced.”
In the past quarter Dotz has expanded into new markets such as petrol tagging.
The Israeli company — which touts itself as ‘the next big small thing’ — burned through about $1.1 million last quarter, leaving $1.2 million in the bank.