Applied DNA Sciences Develops DNA Petrochemical Marker
LOS ANGELES, March 10 -- Applied DNA Sciences Inc. (BULLETIN BOARD: APDN) a security solutions company focused on supply chain management relating to counterfeiting, fraud, piracy and product diversion, announced today the successful initial testing of their Encapsulated Botanical DNA (EBD) marker for the petrochemical industry. The testing involved the formulation of an economical concentration of the EBD marker that was introduced into gasoline and diesel fuel process systems. The EBD survived the harsh solvent chemical environment and was successfully extracted and authenticated.
The goal of the EBD petrochemical marker program is to meet the increased demand for the next generation petroleum marker for crude oil and commodity chemicals; gasoline, fuel oils, diesel, and agricultural chemicals. The program also includes the development of an EBD system for tracking and monitoring strategic reserves, in the U.S. and abroad.
The global problem of fuel adulteration, dilution, diversion, and misbranded fuel is substantial. BusinessWeek magazine, citing the World Customs Organization, reports that illegal fuel trade contributes to the $512 billion in lost revenue from counterfeiting. Peter Brocklesby, president of Applied DNA Sciences stated, "Estimates from information supplier Freedoina, suggests the US market for fuel additives is expected to exceed $8 billion by 2008. We believe that marker technologies, like our EBD may offer a significant potential solution in brand protection by creating an effective tool in supply chain management for product distribution."
Applied DNA Sciences has filed a patent application that not only covers the use of the novel EBD marker with petrochemicals, but describes the system and method for recovery, assay, and monitoring the concentration of the EBD marker in a piping/delivery system -- with Supervisory Control and Data Acquisition (SCADA) capability.
ADNAS will be working with the Department of Energy under a Cooperative Research and Development Agreement, to conduct the necessary feasibility, scaling and modeling efforts. In parallel, ADNAS will work to attract an industry partner for financial participation and deployment of the EBD marker solution.
About Applied DNA Sciences, Inc.
Applied DNA Sciences, Inc. provides proprietary DNA-embedded security solutions, using plant DNA, to verify authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized intrusion into physical plant and databases. Biowell Technology, Inc. of Taiwan, technology is protected by over 20 international patents. (http://www.biowell.com.tw/eng). Applied DNA Sciences, Inc., 9229 West Sunset Boulevard Los Angeles, CA 90069; Tel: 310.860.1362; Fax: 310.860.1303. http://www.adnas.com/.
Except for historical information contained herein, the matters set forth in this press release, such as statements relating to the Company's ability to drive technological developments and the acceptance and timing of product introductions, are forward-looking statements that are subject to risks and uncertainties, including timely development and acceptance of new products, the impact of competitive products and pricing, the timely development and release of products by suppliers, and other risks detailed in the Company's periodic filings as filed with the SEC.