NEW YORK, March 29, 2011 /PRNewswire/ -- INKSURE Technologies Inc. (OTC Bulletin Board: INKS), the market leader in machine readable taggants and hand held readers has announced the release of FuelSure, a brand new covert fuel security solution that utilizes taggant technology (optical codes) for fuel authentication.
Illicit trade and counterfeiting of fuel is most prevalent in Europe where fuel currently sells for $7.00 -$8.50 per gallon. About 10% of gasoline sold in Bulgaria is counterfeited according to CBC News. The Guardian reported in 2008, that in certain regions in the UK, smuggled fuel amounts to almost 25% of all fuel sold.
Due to recent events in the Middle East and Asia, fuel prices are expected to spike, making fuel a more attractive target for smuggling and counterfeiting. In North America, Chesapeake Energy expects the average price of gasoline to reach $5.50 per gallon by 2012, a record high for the USA. Global prices are expected to be even steeper than the current numbers.
"It is important that fuel companies take the necessary precautions in order to avoid having their brand utilized to sell illegal and diluted fuel. FuelSure was developed in order to provide forensic level fuel security to end-users and keep motorists safe," said Tal Gilat, president & CEO of InkSure.
FuelSure offers a simple and cost-effective turnkey solution to ensure fuel security and keep counterfeit and smuggled fuel out of the supply chain. InkSure's taggants can be integrated into the fuel at any point in the supply chain. Once integrated, the invisible taggants can only be detected in the fuel with a specially engineered FuelSure reader. FuelSure readings measure the taggant concentration which verifies if the fuel has been counterfeited or diluted.
About InkSure Technologies Inc.
INKSURE Technologies Inc. is an industry leader in taggant technology for brand protection and anti-counterfeiting. InkSure's taggant technology is applied to tens of billions of consumer items and high-value documents annually. The company targets a number of industry sectors, including finance, government, pharmaceuticals, FMCGs and transportation.
InkSure is based in New York City, SEC regulated, and publicly traded under the symbol INKS.OB.
For more information contact: Sarah Hein, Marketing Manager, +1-646-233-1454 x 202, email@example.com
SOURCE InkSure Technologies, Inc.