News

Timestrip, the developer of smart label technology for packaging, has confirmed that it has signed a £1.5m (US$3m) three-year rolling deal with United Pet Group (UPG), a US supplier of aquatic and other pet products.

The Hitchin-based firm announced the agreement last August, but at the time could not disclose the name of the customer or the product to which its technology would be applied.

Timestrip said today (8 January) its smart labels, which monitor how long packaging has been open or in use, would be applied to UPG's Tetra brand aquarium filters. They will also be supplied with all replacement filter cartridges sold in North America.

Timestrip's share price rose by almost 10% to 7p following the announcement.

The newly designed filter will be introduced at Global Pet Expo, which takes place in San Diego from 14-16 February.

UPG Aquatics president Kevin Brenner said Timestrip smart labels were a "cost-effective means of ensuring that Tetra filter cartridges are changed regularly", and made "routine maintenance easier".

Timestrip's smart labels will be added to other UPG mass-market pet products during 2008.

Timestrip joint chief executive Paul Freedman said the deal highlighted the "application potential and versatility" of the firm's technology, which was establishing itself as an "essential added-value device" for a range of consumer applications.

Timestrip labels are already used by brand owners Curver, Henkel and Nestlé, as well as Bayer and Whirlpool.

They were also trialled during December 2007 on jars of Premier Foods' Branston Original pickle sold by Tesco throughout the UK.