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Eurocontrol Signs MOU with DigiFlex of Israel
TORONTO, ONTARIO--(Marketwired - May 16, 2016) - Eurocontrol Technics Group Inc. (TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification and certification technologies, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with DigiFlex Ltd., a private Israeli company that holds patents in inks and printing, to form a joint venture that will focus on developing technology to address security inks to provide a security solution to governments and product brands protection to industry.
Xenemetrix and DigiFlex are investigating a new approach to security printing that will involve a three-stage coding system with simple implementation and ease of operation. Utilizing DigiFlex's unique ink solution that can be printed with high resolution on any surface (including glass, metals and plastics) and a hand-held reader based on Xenemetrix's ED-XRF technology, the new technology will be able to identify the composition of elements in the ink and will also have the ability to identify a visual image printed with DigiFlex coded ink.
The signing of this MOU coincides with a business mission to Israel and the West Bank that Eurocontrol was asked to participate in by the Government of Ontario. The mission continues the decade long cooperation between Ontario and Israel that is focused on establishing Ontario as a top innovation and knowledge economy partner with Israel. The business delegation accompanying Premier Wynne includes a number of Ontario companies that are pursuing trade opportunities and research and development projects with Israel to create cutting edge technologies.
"By combining their technical expertise, DigiFlex and Eurocontrol will not only improve security for governments and industry, they will help curb the illicit trade of goods all over the world," said Kathleen Wynne, Premier of Ontario. "This partnership is one of the many cooperative agreements being signed during my business mission to the Middle East, where I am promoting the exchange of knowledge and information and seeking new opportunities for collaboration that will benefit both regions."
Bruce Rowlands, Chairman and CEO stated, "We were thrilled to be invited to participate in this trade mission. Eurocontrol has had significant success in working with Israeli companies to commercialize and assist with global expansion of leading edge Israeli technologies. The MOU with DigiFlex is another such initiative that will initially focus on identifying niche markets where Xenemetrix's existing ED-XRF chemical and elements analysis can be broadened through marrying it with DigiFlex inks and processes to hopefully bring new authentication products to the market that will help address the wide spread trade in illicit goods."
Hezy Rotman, DigiFlex's CEO stated, "We are excited for the opportunity to join forces with Eurocontrol and Xenemetrix to bring to market a breakthrough product in the "chemical authentication" industry segment based on the proven technologies of DigiFlex and Xenemetrix."
About Eurocontrol Technics Group Inc.
Eurocontrol is a TSX Venture listed company that specializes in the acquisition, development and commercialization of innovative authentication, verification and certification technologies. Eurocontrol has two wholly owned subsidiaries, Xenemetrix Ltd. and XwinSys Technology Development Ltd. ("XwinSys"). Xenemetrix is a leading designer, manufacturer and marketer of ED-XRF systems, a technology that is the most accurate and economic method for determining the chemical composition of many types of materials, including the analysis of petroleum oils and fuel. Xenemetrix has an exclusive long-term supply, maintenance and support agreement with SICPA/GFI to supply SICPA/GFI with Xenemetrix products and services related to the oil and gas marking and monitoring field. XwinSys is in the final stage of developing a fully automated metrology system for the semiconductor industry that combines 2D and 3D image processing technology with Xenemetrix's ED-XRF technology.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca.
About Xenemetrix Ltd.
Xenemetrix is a leading designer, manufacturer and marketer of energy-dispersive x-ray fluorescence (ED-XRF) systems and components. Located in Israel and with over 30 years experience, Xenemetrix holds a number of certifications and is the recipient of Frost & Sullivan Best Practices Awards in 2015 and 2010 for Global Analytical X- Ray Instrumentation Price Performance Value Leadership and Global ED-XRF Analyzers Product Line Strategy of the Year, respectively. Xenemetrix continues to develop highly innovative technologies and solutions suitable for today's ever-growing analytical challenges, performing non-destructive elemental analysis starting from Carbon (6) through Fermium (100), while providing detection limits from low parts-per-billion (ppb) to high weight percent (%wt). ED-XRF spectroscopy is one of the simplest, most accurate and economical analytical methods for the determination of the chemical composition of many types of materials. Xenemetrix combines the latest technological developments with innovative engineering, to provide cost-effective solutions to a wide range of industries including the petroleum, mining, marine, manufacturing, food and beverage, cosmetic and pharmaceutical industries to outline a few. Xenemetrix's emphasis on quality combined with ongoing research and development has earned Xenemetrix an international reputation for excellence. For further information on Xenemetrix, visit www.xenemetrix.com.
About DigiFlex Ltd.
DigiFlex is a "start up" private company located in Kfar Saba, Israel that has developed a unique and patented INK technology that enables printing, at a low cost, on any substrate, with a high resolution. DigiFlex has earned an excellent reputation with its product line and is looking to expand to "Functional Printing" and "Micro 3D", the technology segment that "Chemical Authentication" would be classified under. Additional information on DigiFlex can be obtained at www.digiflex-print.com.
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