DataDot Technology (ASX:DDT) should trade higher after announcing that that Con Edison has begun a program to prevent copper theft using DataDotDNA.
Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE:ED), one of the largest energy companies in the US, with $12 billion in annual revenues and $41 billion in assets.
The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York.
In 2013 Con Edison reported 155 thefts of copper cable from manholes, trucks or other company facilities.
Now, Con Edison is working with DataDot Technology to use a spray system that leaves dot markings on the copper or equipment.
Each set of dots has a unique identifier, logo or numbered ID that is invisible to the naked eye but can be viewed with a UV light.
Con Edison will work with the police to review records and products at metal and scrapyards, and police can use the dots and records to determine who sold a piece of copper to a scrap yard and where the copper was last stored by Con Edison.
The decision by Con Edison, a leading US energy corporation, to use DataDotDNA to prevent copper theft is a significant development in implementing DDT's US metals theft solution strategy.
In addition, DataDot has reported progress being made by the company’s Chinese distributor in marketing DataTraceDNA in China.
DataTraceDNA is a security solution applied by customers to their products to validate product authenticity and protect product brands against counterfeiting, third-shift manufacturing, grey imports and fraudulent warranty claims.
It is customised to suit each individual client’s own product and manufacturing process.
Following an extended trial, a manufacturer of a high volume consumer product made for prominent Western brands will incorporate DataTraceDNA into its production process.
Production application is planned to commence in the current quarter.
