Mobile sensor platform and OpenSense tags combine to enable location reporting and tamper detection for high-value goods within the supply chain
OSLO, Norway, July 18, 2017 - Thin Film Electronics ASA ("Thinfilm") (OSE: THIN; OTCQX: TFECY), a global leader in NFC (near field communication) mobile marketing and smart product solutions, today announced a partnership with Cratus Technology, Inc. Through the collaboration, Cratus will integrate Thinfilm`s technology into mobile sensor platforms, enabling location sensing and tamper-evidence monitoring of high-value goods through the simple tap of a smartphone or commercial reader.
Cratus` newly launched mobile sensor-platform for high-value shipments was designed to record ambient environment data including temperature, pressure, shock, orientation, and humidity. Serving as a silent sentinel on a package`s journey through the supply chain, the sensor platform was designed to capture adverse events and record them for dispute resolution and general supply chain monitoring. In addition to GPS tracking and multiple methods of communication options including Bluetooth, cellular, WiFi and LPWAN, Cratus wanted to add location tracking capabilities and next-generation tamper detection functionality to its sensor platform and turned to Thinfilm`s OpenSense technology to enhance the security, flexibility and user experience in its offering.
According to a research report by Kroll, a leading security risk management firm, during 2016 29% of businesses suffered from thefts of physical assets or stock, while 26% of businesses suffered from vendor, supplier, or procurement fraud. These losses typically occurred within an unmonitored, unsecured supply chain. Adding discrete, flexible sensors such as Thinfilm`s OpenSense(TM) tags into packaging can help reduce these losses once the product leaves the shipping dock. The OpenSense solution combines IoT (Internet of Things) technology and a cloud-based management portal that enables a unique approach to digital authentication and engagement in the physical world. The tags, which are easily integrated into a range of packaging form factors, generate valuable data to help supply chain managers track, trace, and secure valuable shipments.
"We chose Thinfilm`s NFC solution based on its unique ability to indicate both the sealed and tampered states of a shipping box or product enclosure. Our customers can now use the Cratus sensor platform with Thinfilm`s OpenSense tags to reliably track and determine the integrity of a shipment throughout its journey along the supply chain," said Zeki Gunay, CEO of Cratus Technology. "Thinfilm`s technology not only gives us a way to extend the applications of our products and promote their reusability, but also provides an added layer of package security, which delivers significant value to the customer."
"Our collaboration with Cratus demonstrates Thinfilm`s continued growth in the business-to-business market, and we`re excited to add our OpenSense tags to the Cratus platform," said Davor Sutija, CEO of Thinfilm. "We look forward to working closely with Cratus in delivering leading-edge supply chain solutions that effectively reduce the fraud, waste, and loss that often occurs through product tampering and diversion."
About Thin Film Electronics ASA
Thinfilm is a global leader in NFC mobile marketing and smart-packaging solutions using printed electronics technology. The Company creates printed tags, labels, and systems that include memory, sensors, displays, and wireless communication - all at a cost-per-function unmatched by conventional electronic technologies.
Thinfilm offers end-to-end mobile marketing solutions that feature hardware, label/packaging integration services, and comprehensive cloud-based management, reporting and analytics. Collectively, these components deliver a powerful 1-to-1 digital marketing platform through which brands of all sizes can connect directly with consumers, all with the simple tap of a smartphone. The resulting disintermediation of search engines, online marketplaces, and social platforms empowers brands to control messaging, enhance consumer dialogue, build loyalty, increase engagement, and drive sales.
Thinfilm`s roadmap integrates technology from a strong and growing ecosystem of partners to bring intelligence to everyday, disposable items. Its mission is to effectively extend the traditional boundaries of the Internet of Things to fuel the Internet of Everything.
Thin Film Electronics ASA is a publicly listed company in Norway with global headquarters in Oslo, Norway; US headquarters in San Jose, California; and offices in Linköping, Sweden; San Francisco; London; and Shanghai. For more information, visit www.thinfilm.no.
About Cratus Technology, Inc.
Cratus develops sensor-centric products and systems with embedded algorithms, for the connected world. Cratus serves the IoT market with innovative applications. Products and sub-systems are customized for markets, using requirements derived from the needs of each application. In-house expertise assists clients by developing connected products using state of the art technologies.
Cratus provides value to customers by engaging in development from concept to manufacturing support, including industrial design, electronic design, firmware and software development, server tools and mobile or web applications. Cratus works to complement the services provided by the internal team of the partner organization. Partners range from semiconductor and component suppliers to contract manufacturers, from investment institutions to public relations companies. Located in Silicon Valley, Cratus is positioned for growth as a connected sensors and systems company. For services and products information e-mail: info@cratustech.com.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).
For more information on Thinfilm please contact:
Bill Cummings SVP Corporate Communications Thin Film Electronics ASA +1 408-503-7312 bill.cummings@thinfilm.no
For more information on Cratus Technology please contact: Zeki Gunay CEO Cratus Technology +1-408-203-9354 zeki@cratustech.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Thin Film Electronics ASA via GlobeNewswire HUG#2120956
