NEXT Biometrics has received a substantial follow-up order from Page Electronica and NGRAVE. The two companies started buying NEXT fingerprint sensors in November of 2020, with plans to deploy them in NGRAVE’s cryptocurrency wallets.
Page Electronica and NGRAVE have now gone through all of the sensors in that initial order, and have placed the follow-up to make sure that they are able to keep up with demand despite ongoing supply chain issues and the limited availability of semiconductors internationally. NEXT is expected to fulfill most of the order before the end of the year, and will ship all of the contracted sensors inside of 18 months.
The new purchase order is for NEXT’s Access 200 fingerprint sensor, and is worth NOK 3.1 million (roughly $350,000 USD). The first batch was supposed to be delivered over the course of 24 months, though NEXT ended up completing the order well ahead of that two-year schedule due to high demand.
“We are stunned about the market response of our crypto-wallet and we’re pleased to have integrated it with the secure fingerprint solution from NEXT Biometrics,” said NGRAVE CEO Ruben Merre. “Their slim form factor with superior performance enables our NGRAVE ZERO crypto-wallets to be ultra-secure.”
“This follow-up order from NGRAVE proves that our fingerprint sensors are well fitted to be integrated in various security demanding use cases,” added NEXT CEO Peter Heuman. “The NGRAVE crypto-wallet is a great design-win for NEXT, with potential in a continuously growing cryptocurrency market.”
This is the second major order that NEXT has announced in February. An unnamed equipment manufacturer in India placed an order for $2.2 million worth of FAP 20 sensors at the beginning of the month, though that deal is contingent on Aadhaar certification. NEXT has also started fulfilling a five-year sensor contract for a tech company based in Europe.
February 10, 2022 – by Eric Weiss