Spectra Systems Corporation (AIM:SPSY, OTC:SCTQ) has introduced the world's first certified circular polymer banknote substrate.
Called FUSION, the new product is part of an audited mass-balanced recycling supply chain, certified by the International Sustainability and Carbon Certification (ISCC) PLUS process. This was obtained through Spectra Systems' security printing subsidiary, Cartor Security Printers, in the UK.
"Spectra Systems, as an engaged corporate citizen supporting a sustainable global environment, is proud to bring this product to the banknote industry," said Spectra's chief executive, Dr Nabil Lawandy.
"This undertaking is yet another demonstration of how Spectra Systems is always innovating and bringing new technology and capabilities to our customers to meet their needs."
Polymer substrates, developed to make banknotes strong, printable and suitable for enhanced security features, have been adopted by over 60 countries since their initial use by Australia in 1988, with approximately 30% of these nations using polymer across all banknote denominations.
In 2019, Spectra introduced a high-speed machine-readable polymer substrate with covert security features, enhancing the security of polymer banknotes.
The ISCC PLUS certification allows Spectra to maintain a fully audited supply chain for the polymer, sourced and produced exclusively by Toray Plastics America. This ensures that for every kilogram of polymer used in the substrate, an equal amount of polymer was recycled and repurposed, supporting a sustainable supply chain.
The certified-circular polymer is derived from advanced recycling of plastics, presenting several environmental benefits, including the use of plastic waste as an alternative to fossil fuels, providing additional end-of-life options for plastic waste, diverting significant amounts of plastic waste from landfills or incineration, and expanding the range of recyclable plastic waste.
Spectra Systems will showcase this newly commercialized substrate and its environmental impact at the Banknote 2024 conference in Fort Worth, Texas, from May 13 to 16.