SOURCE: Applied DNA Sciences
STONY BROOK, NY--(Marketwire - Dec 13, 2012) - Applied DNA Sciences, Inc. (OTCBB: APDN), (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology and product authentication solutions, announced today that its evidentiary smartDNA platform has been adopted by Vattenfall Eldistribution AB (subsidiary of Vattenfall AB) to protect copper assets located in Energy stations throughout Sweden. This will be implemented by the end of December 2012. Vattenfall in Sweden accounts for 50% of Sweden's electricity, with over 900,000 customers. It is the nation's largest regional and local service provider.
Leif Svensson, CEO of the Sweden consulting group Safe Solution AB, stated, "Vattenfall Eldistribution AB is Sweden's largest supplier of electricity and we are pleased to announce their adoption of APDN technology to protect its copper assets from theft. Like the cash in transit program by Nokas, the deployment in Vattenfall's electrical infrastructure can identify stolen copper and the thieves who are responsible."
The forensic precision and robustness of the smartDNA platform has been proven to help with linking criminals to crimes in Sweden. The purpose of this application for copper is a natural extension of the program that has been officially recognized by the Swedish National Police, and enforced by all police forces throughout Sweden who have been fully trained on the smartDNA system.
Dr. James A. Hayward, CEO and President of Applied DNA Sciences, stated: "Copper asset protection, as well as other kinds of metals, is an area that is ripe for growth as demonstrated in Sweden. We are receiving inquiries from customers who recognize the importance of protecting their assets, minimizing their losses and ensuring that original products can be traced to their source. In December alone, approximately $170,000 of revenue has been generated from our Swedish business."
In the United States, it is estimated that more than 95% of energy utilities experienced copper theft in the past 12 months with over 50,000 incidences nationwide. Nearly 8,000 of these thefts took place for energized copper resulting in an estimated 35 fatalities (Electrical Safety Foundation International, 2009). The FBI considers copper theft a threat to national security (Federal Bureau of Investigation, Copper Theft Threatens U.S. Infrastructure, December 2008).
About Applied DNA Sciences
APDN is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA and smartDNA™, our principal anti-counterfeiting and product authentication solutions that essentially cannot be copied, provide a forensic chain of evidence and can be used to prosecute perpetrators.
The statements made by APDN may be forward-looking in nature. 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 8, 2011 and our subsequent quarterly reports on Form 10-Q. 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.