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Spectra Systems Receives Notice of Allowance on Breakthrough Banknote Fitness Sensor

The Patent Addresses The Importance For Maintaining The Quality Of Banknotes In Circulation As Well As Controlling Spending On Replacement Orders

PROVIDENCE, R.I., April 29, 2013 /PRNewswire/ -- Spectra Systems Corporation has received notice of allowance from the United States Patent and Trademark Office for the company's patent entitled "CURRENCY FITNESS AND WEAR DETECTION USING TEMPERATURE MODULATED INFRARED DETECTION." Spectra will be working with its central bank customers to test this new fitness sensing technology in operational environments to validate its long term benefits in quality and cost savings in banknote replacement.

The patent relates to the use of heat generated infrared signals to produce high contrast images of banknotes which reveal new information on the levels of soiling and particularly void free tears and tapes which are beyond the resolution of current optical inspection technologies employed by central banks.

Today the primary methods for evaluation of the fitness of banknotes rely on various types of optical imaging to determine excess wear and damage. These high speed camera systems produce images for examination but are often incapable of detecting severe creasing, pinholes, and transparent tape used for repairing torn notes. Spectra's technology represents an entirely new approach to sensing wear and damage and given the high volume of banknotes in circulation; the slightest improvement can affect a dramatic benefit in quality and cost.

"We are pleased to once again be bringing breakthrough technology to the centuries old banknote industry," said Nabil Lawandy, CEO of Spectra Systems Corporation. "The accurate determination of banknote fitness is of critical importance for maintaining the quality of banknotes in circulation as well as controlling spending on replacement orders."

About Spectra
Spectra Systems, headquartered in Providence, RI, is a leading provider of machine-readable banknote authentication technology and transaction security software with manufacturing and engineering facilities in East Providence, RI and Vancouver, BC Canada. Spectra Systems is a traded company on the London Stock exchange since July of 2011.

CONTACT: Spectra Systems Corporation: Dr. Nabil Lawandy, Chief Executive Officer, +1 (0) 401 274 4700; WH Ireland Limited: Chris Fielding (Head of Corporate Finance), +44 (0) 20 7220 1650; Media Enquires: The Communications Portfolio Limited: Ariane Comstive / Caolan Mahon, +44 (0) 20 7536 2028