Spectra Systems Corp (LON:SPSY) said it was granted a patent from the US Patent and Trademark Office for its technology for disinfecting banknotes from SARS-2 viruses and other biohazards.
The banknote and product authentication firm said the patent is expected to be issued within six weeks and that other applications have been filed in other regions across the world.
WATCH: Spectra Systems CEO speaks to 'phenomenal' year of growth for the banknote authentication provider
The technology can disinfect 5mln banknotes in under two hours and uses nitrogen to create an oxygen-free atmosphere, along with heat, to deactivate SARS-2.
"The [coronavirus] pandemic has raised questions about the health safety of banknotes. Given that several new SARS-2 variants have been shown to be more virulent, it is likely that Covid-19 will become endemic”, Spectra chief executive Nabil Lawandy.
“Central banks and Casinos that exchange cash with the public may conclude that a proactive approach rather than denial is the logical approach to maintaining the use of cash worldwide. Our newest product is designed specifically to address this situation effectively, and its patent was we understand allowed in record time", the CEO added.