Hitchin-headquartered Timestrip has received an order to supply its Timestrip technology to a leading US-based global consumer products company.
Timestrip manufactures smart labels that monitor elapsed time and can indicate the freshness of food, medical and cosmetic products.
The deal involves the integration of the Timestrip into a new mass-market product that will be launched later this year in North America under one of the company’s household brand names.
According to Timestrip, confidentiality restrictions prevent the disclosure of the nature of the product or the identity of the customer until the product is officially launched. The deal is expected to generate revenues of at least £56,000 for Timestrip during 2008 through the supply of products required for the initial launch.
Reuben Isbitsky, joint CEO at Timestrip, said: ‘We are delighted to be introducing our unique technology to yet another global consumer product company and look forward to disclosing more details closer to the product launch. We are particularly encouraged that the customer selected Timestrip after an extensive technology search and as a result of positive consumer feedback.’