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DNA Marking of Copper Deters Theft and Associates Thieves With a Specific Crime
STONY BROOK, NY --(Marketwired - January 06, 2016) - Applied DNA Sciences, Inc. (NASDAQ: APDN) ("Applied DNA") (Twitter: @APDN), a provider of DNA-based supply-chain, anti-counterfeiting and anti-theft technology, product genotyping and product authentication solutions, announced that it has been awarded a contract to provide its increasingly popular metal marking product to one of Europe's leading electricity providers. The contract, which has recently been signed by one of the company's key distributors of security products, is for a period of two years with an option to extend for a third year and is estimated to be valued at between $130,000 and $260,000 per annum.
Applied DNA's technology can protect vital grid infrastructure from damage by copper thieves, a global concern to all managers of train and power distribution systems. The solution provided by Applied DNA and the key distributor combines the latest available technology to protect metal from theft with a very easy and quick application method to reduce costs for the client. A unique and permanent DNA mark is applied to the metal, which forever associates the specific copper directly to a specific crime. Use of the same product in similar industries has resulted in the reduction of security incidents by over 80%.
Commenting on the contract, Tony Benson, Managing Director for Applied DNA Sciences Europe, said, "As news of our products grows across Europe, I expect to be awarded more contracts in the future. This particular product is designed to make it easy and quick for clients to deploy saving them time and money, which is important for them. We believe they are using the very best technological solution available to them."
Applied DNA Sciences' Security and Asset Marking applications continue to gain momentum as a unique solution to combat crimes using innovative technologies and forensic authentication methods to convict criminals and deter the crime from occurring in the first place.
About Applied DNA Sciences
We make life real and safe by providing botanical-DNA based security and authentication solutions and services that can help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA describes the platform ingredient that is at the heart of all of our security and authentication solutions. SigNature DNA is at the core of a family of uncopyable products such as DNAnet®, our anti-theft product, SigNature® T, targeted toward textiles, and digitalDNA®, providing powerful track and trace. All provide a forensic chain of evidence and can be used to prosecute perpetrators. We are also engaged in the large-scale production of specific DNA sequences using the polymerase chain reaction.
Applied DNA Sciences common stock is listed on NASDAQ under the symbol APDN, and its warrants are listed under the symbol APDNW.
Forward Looking Statements
The statements made by APDN in this press release may be "forward-looking" in nature within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K filed on December 14, 2015, which are available at www.sec.gov. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events, unless otherwise required by law.