The Applied DNA provides services regarding DNA-based supply chain security, anti-counterfeiting, and anti-theft technology. The company has recently gained an order to tag 27.5 million pounds of cotton for 2017/18 ginning season. The project is for three US cotton varietals. The three varietals are Pima, Delta and Acala, which fall under the PimaCott, HomeGrown LoneStar, and HomeGrown Acala programs. The company is expecting to ship SigNature T DNA to mark 27.5 million pounds of cotton before the end of June, 2017.
The president and the CEO of the Applied DNA, Mr. James A. Hayward said that; “Now in our third season, Applied DNA’s SigNature T DNA has been meeting the need for supply chain traceability, transparency, and trust within the cotton industry ecosystem with national retailers, their supply chain partners, and consumers. We are proud to continue to tag, test, and track cotton for the 2017/2018 ginning season.”
Proceeding further to his discussion he added that; “This order demonstrates our success in further entrenching SigNature T DNA in an established revenue-generating vertical and in extending the adoption of our proven technology platform. Although we cannot predict the timing of follow-on orders, conversations with our customers lead us to believe that additional opportunities to tag cotton during the 2017/2018 ginning season are likely.”
For the mentioned order the customer has agreed on enhanced customary and favorable payment terms, which will allow earlier recognition as compare to the past orders. The new order is incremental to DNA concentrate to tag 30 million pounds of cotton that was shipped during fiscal 2016 to establish an on-site reserve of SigNature T DNA before the harvest begins.
