Authentix, Inc.(R), today announced that it has been awarded a
contract for marking fuel adulterants by India's Ministry of Petroleum
and Natural Gas.
India subsidizes the price of kerosene for the nation's poor to
use for cooking and heating. Unfortunately, a significant portion of
this low priced product is stolen and diverted for use in auto fuels.
It is estimated that annual losses due to kerosene diversion are as
high as US$5B.
"Adulteration of transportation fuels is a social menace that we
are all familiar with within the oil industry," said Shri Murli Deora,
Union Minister for Petroleum and Natural Gas, Government of India
during a news conference where the fuel adulterant marking program was
unveiled. "We are committed to fight the forces that adulterate
petroleum products. This step is not only aimed at checking
adulteration but is also meant to ensure that under privileged
sections of the society get their due quantity of heavily subsidized
kerosene for cooking and other purposes."
Authentix marking technology is added to potential adulterants at
the parts per billion level. If the markers are detected it means the
fuel has been adulterated. "Authentix technology was selected because
our nanotechnology-based markers cannot be removed and the Authentix
proprietary test method can detect even trace amounts of adulterant in
the fuel," said Lal Pearce, Vice President, Oil and Gas, Authentix.
"The test can be quickly done in the field and give instant positive
indication of fraudulent activity."
SGS, the world's largest inspection and certification company and
a global partner of Authentix, will provide regular fuel sampling at
32,000 retail outlets.
This program underscores Authentix' Social Capitalist ethic of
contributing to society through its business practices. Operating
globally over 5 continents, Authentix assists governments by
recovering tax revenues and securing their currencies, while also
protecting the world's leading brands.
ABOUT AUTHENTIX
Authentix(R) is the Global Leader in authentication solutions for
brand protection and fiscal recovery. As the inventor and developer of
many of the leading nano-scale authentication solutions in use today,
we have a world-class technology portfolio. Moreover, our skills in
applying those technologies to solve counterfeit, adulteration and
smuggling issues for clients, ensures that we are a trusted partner of
many of the world's leading brand owners and governments. In the last
three years we have recovered over $3 billion in lost revenues in the
oil and gas, pharmaceutical and consumer goods industries alone. In
addition, our expertise in the fields of value documents, currency and
homeland security applications aids in the protection and betterment
of society.
