VANCOUVER, British Columbia--(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.
"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.
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.