|[January 27, 2014]
Visualant Delivers First Product Run of ChromaID SDKs to World's Top Inventors and Engineers
SEATTLE --(Business Wire)--
Inc. (OTCQB: VSUL), a leading provider of
disruptive light-based technologies, has completed the delivery of the
first production run of its ChromaID™ software development kit (SDK),
putting the new technology into the hands of some of the world's top
inventors and engineers across multiple industries.
ChromaID is a breakthrough light-based identification and measurement
technology with the potential to disrupt traditional spectral analysis
and other costly methods of identification, authentication and diagnosis.
The ChromaID system consists of software and a scanner (handheld or
fixed mount) that uses Visualant's Spectral Pattern Matching™ (SPM)
technology to direct structured light onto a surface, material, or
through a liquid or gas, creating and capturing a unique marker or
"ChromaID" that is invisible to the human eye.
This patented, award-winning technology is disruptive because for the
first time it is possible to effectively conduct identification,
authentication and diagnostics in the field that could previously only
be performed by large and expensive lab-based equipment and technicians.
The first production run of the ChromaID SDKs underwent extensive and
rigorous testing prior to shipment. After testing was complete, last
fall development kits were initially shipped to Visualant's strategic
partner, Intellectual Ventures (News - Alert) (IV), and inventors in the IV Invention
Network (IVIN). Visualant and IV have formed a strategic partnership to
advance the commercialization of Visualant's patented ChromaID
technology through product applications and IP development.
Then recently, the remaining SDKs produced from the first production run
were shipped to several companies around the world. The recipients
include an international plastics packaging company, a company that
provides authentication for critical semiconductors, a pharmaceutical
supply chain company and a medical waste disposal company. Each of the
companies has their own potential specialized applications:
The international plastics packaging producer is looking to use
ChromaID signatures to match their customers' exact color requirements
to a color library for the packaging and containers being produced.
Their first attempt with tradiional, less sophisticated spectrometry
resulted in incorrectly colored containers, whereas initial tests with
ChromaID have proven successful. The anticipated cost savings from
this one manufacturer is more than $1 million annually in reduced
The authentication company working on semiconductor counterfeiting
protection is exploring the use of ChromaID in combination with
chemical coding for a two-step authentication application. This
application would be much faster and more cost effective than using
traditional verification methods. A recent Senate Armed Services
hearing concluded there are more than 1 million counterfeit parts in
critical Defense Department equipment and systems.
The pharmaceutical supply chain company is working to apply ChromaID
to its high speed pill sorting process in order to detect pills that
should not be in the batch being processed and ensure a high level of
quality control through the sorting and counting process. The
potential health damage and liability from ingesting the wrong
medicine is estimated to be $300 million annually in North America
alone. Globally, counterfeit pharmaceuticals are more than a $75
billion industry causing one million deaths annually.
The medical waste company is testing the use of ChromaID to confirm
the authenticity of unused controlled substances that are required, by
law, to be disposed of with verification. As much as 8% of controlled
substance medications are diverted or stolen in hospitals. This
application could significantly reduce that amount.
These and other markets provide opportunities for the deployment of
potentially millions of Visualant ChromaID sensors across hundreds of
"We've been realizing tremendous success in getting our revolutionary
ChromaID technology into the labs of the world's most innovative
companies and establish a strong pipeline of potential commercial
applications," commented Visualant's founder and CEO Ron Erickson. "As
these companies confirm ChromaID's unique ability to identify,
authenticate and diagnose more efficiently and affordably, we expect
this to translate into licensing and sales over the coming months."
The next production run of ChromaID SDKs is currently underway, and the
company plans to deliver more than 75 SDKs by yearend. The demand for
the SDKs currently exceeds supply, with Visualant focusing on delivering
kits to global companies that have the capacity to develop large scale
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the
business of invention. IV collaborates with leading inventors, partners
with pioneering companies and invests both expertise and capital in the
process of invention. IV's mission is to energize and streamline an
invention economy that will drive innovation around the world. For more
information on IV, go to www.intellectualventures.com.
The Intellectual Ventures Invention Network (IVIN) is a collaborative
community of scientific and technical experts, inventors and
entrepreneurs who work together to create, improve and evaluate
inventions. IVIN membership provides access to financial incentives and
the global resources of Intellectual Ventures, an invention capital
company with one of the largest and fastest-growing intellectual
property portfolios in the world. Members can submit their inventions to
IV for patenting and monetization or get paid for reviewing new
inventions, analyzing existing patents or inviting other inventors to
join IVIN. By supporting good ideas and the people who develop them,
IVIN encourages a continual supply of useful and valuable inventions.
About Visualant, Inc.
Visualant™ is a public company whose shares trade under the stock symbol
"VSUL." The Visualant Spectral Pattern Matching™ (SPM) technology
directs structured light onto a substance or material, through a liquid
or gas, or off a surface, to capture a unique ChromaID™. A ChromaID can
be used to identify, detect, or diagnosis markers invisible to the human
eye. ChromaID scanner modules can be integrated into a variety of mobile
or fixed-mount form factors. The patented, award-winning technology is
disruptive, making it possible to effectively conduct analyses in the
field that could only previously be performed by large and expensive
lab-based tests. For more information on Visualant, visit the company's
new website at www.visualant.net.
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