Ynvisible and Innoscentia Are Fighting Food Waste With Printed Intelligent Expiry Date Label
November 24 2020 - 2:00AM
Business Wire
Ynvisible Interactive Inc. (the "Company" or "Ynvisible")
(TSX-V: YNV, FSE: 1XNA, OTCQB: YNVYF) is pleased to announce that
Innoscentia AB has chosen Ynvisible's displays for its dynamic
expiry date labels on food packages. Instead of static expiry date
estimations on the packages, Innoscentia has developed materials
that combine with the Ynvisible display, enabling real-time quality
monitoring of the food. This solution aims to reduce food waste
significantly and detect spoiled food in time, even before the
expiry date.
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Innoscentia has developed materials that
combine with the Ynvisible display, enabling real-time quality
monitoring of the food. This solution aims to reduce food waste
significantly and detect spoiled food in time, even before the
expiry date. (Photo: Business Wire)
"We are very pleased to be able to join forces with Ynvisible to
fuel the development of our digital sensor labels. After recent
breakthroughs with our sensors, we are now ready to take the next
step to produce a prototype, and we believe Ynvisible to be the
optimal partner for this because of their experience and
cutting-edge technology within printed displays and electronics.
The results of the project will hopefully move us a big step closer
towards disrupting the current labelling system of food and help us
create a more sustainable food value chain in the future," said
Erik Månsson, CEO of Innoscentia.
Besides choosing Ynvisible's display technology, Innoscentia is
currently using Ynvisible's R&D services for the label
development, including system design and adapting the sensor for
large scale production with printing processes.
"To integrate a display into a label for packaging, three things
are crucial: low power consumption, which enables wireless
powering, flexibility, which enables a label-like form factor, and
low cost, which is a must for integration on packages. From that
perspective, no other display technology can compete with ours. At
Ynvisible, we can offer clients tailored R&D services to
incorporate our displays into existing products as we have done for
Innoscentia," said Philip Holgersson, Business Developer of
Ynvisible.
"Providing smart-labels for retail, logistics, and premium
products is a key business platform for Ynvisible. With Innocentia,
we recognize that by helping firms to achieve the highest levels of
product freshness through scalable IoT packaging solutions, we can
help unlock added value through to the end-user and minimize food
waste," said Jani-Mikael Kuusisto, CEO of Ynvisible.
GRANT OF STOCK OPTIONS
In addition, the Company announces it has granted an aggregate
of 625,000 stock options to certain advisors and consultants to the
Company (the “Consultant Options”) and 75,000 stock options
to an employee (the “Employee Options”). Each Consultant
Option is exercisable at $0.285, and each Employee Option at $0.30,
into a common share in the capital of the Company for a period of
five years from the date of grant. The stock options vest in
specified increments over the course of one year.
ABOUT INNOSCENTIA AB
Innoscentia is a Swedish developer of dynamic sensor labels with
the ability to measure food status in real-time. Currently, vast
amounts of food go to waste because of static expiry dates, and
Innoscentias labels aim to unlock the lost shelf life of food
products to help decrease this unnecessary waste. The labels also
create possibilities for traceability solutions and connection to
digital platforms to trace products from farm to fork, a rapidly
growing trend within the food industry. Additional information on
Innoscentia AB is available at www.innoscentia.com
ABOUT YNVISIBLE INTERACTIVE INC.
Ynvisible aims to be a leading company in the emerging printed
and flexible electronics sector. Given the cost and
power-consumption advantages over conventional electronics, printed
electronics are a key enabler of mass adoption of the Internet of
Things ("IoT") and smart objects. Ynvisible has the experience,
know-how and intellectual property in electrochromic materials,
inks, and systems. Ynvisible's interactive printed graphics
solutions solve the need for ultra-low power, mass deployable,
& easy-to-use electronic displays and indicators for everyday
smart objects, IoT devices, and ambient intelligence (intelligent
surfaces). Ynvisible offers a mix of services, materials and
technology to brand owners developing smart objects and IoT
products. Additional information on Ynvisible is available at
www.ynvisible.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jani-Mikael Kuusisto", CEO, Ynvisible Interactive
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
This news release contains certain statements that may be deemed
"forward-looking" statements. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. Although Ynvisible Interactive
Inc. believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in forward looking statements. Forward
looking statements are based on the beliefs, estimates and opinions
of Ynvisible Interactive Inc. management on the date the statements
are made. Except as required by law, Ynvisible Interactive Inc.
undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
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version on businesswire.com: https://www.businesswire.com/news/home/20201124005425/en/
Erik Månsson, CEO Innoscentia AB Erik.mansson@innoscentia.com
Elyssia Patterson +1 778-683-4324 ir@ynvisible.com
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