UK-based Timestrip said yesterday its iStrip label is designed to be mass produced at a lower cost than alternatives currently on the market. The label undergoes an irreversible colour change when exposed to freezing temperatures.
The new label could help processors maintain and ensure the quality of their product throughout the supply chain.
The label was initially developed in response to demand from the pharmaceutical industry.
However it can also be fully integrated into the packaging of products such as vaccines, protein based pharmaceuticals, foodstuffs and fertilizer, said Paul Freedman, joint chief executive officer of Timestrip.
It can also be used for a number of personal care items that have strict use by dates after the packaging has been opened. This includes items such as toothbrushes and other oral care products, as well as many other products applied to the skin.
"Current indicators cost up to $3.50 per item and can only be used at case or pallet level," Freedman stated in an announcement. "iStrip will be marketed at a fraction of this cost, making it a cost effective option at an individual product level."
The company is a start up that last year began manufacturing its Timestrip smart labels, which monitor the shelf life of perishable foods once they have been open or are in use.
Yesterday the company also reported it had quadrupled sales of Timestrip to food companies. Sales for the first six months of the year added up to £200,000 compared to £50,000 in the same period last year.
The company also reported it had made "significant progress" in European food service markets and had gained new orders from North America.
The company plans to target its iStrip at the food and pharmaceutical sectors.