Targeting manufacturing and oil & gas industries, Dotz plans to commercialise its carbon-based verification systems.
Dotz Nano Limited (ASX:DTZ), a carbon-based company utilising its technology for tracing and verification in manufacturing applications announced it has been awarded a AU$2 million placement. In addition, it secured Au$1 million in a deferred share placement to advance its commercialisation strategy.
As quoted in the press release:
“Our non-toxic in-product taggants and tracers are suitable for insertion into a variety of materials,
from lubricants and fuels to plastics, polymers and cannabis plants, and do not affect the appearance
or composition of products. Dotz’s security markers are also able to successfully tag dark pigmented
polymers, such as black and dark blue – a point of difference in a highly competitive market.
“Dotz is now well-placed to strengthen and broaden its commercialisation footprint and will use the
Placement proceeds to execute its growth strategy on the path to profitability. To date, we’ve been
confined by limited working capital which has hindered our progress on customisation testing with
potential customers, particularly in the oil and gas sector where extensive verification is standard
practice. We’ve now finalised customisation testing with many of these prospective customers and
remain focused on converting these activities to recurring sales.”