Government funding of IDEX innovation project

• IDEX develops next-generation fingerprint technology, ready for the ‘Internet of Things’
• The activities are integrated with the eGo project
• The Research Council of Norway awards NOK 4.1 million support over two years

IDEX has been awarded support amounting to NOK 4.1 million from The Research Council of Norway, a government body, to an innovation project to develop fingerprint recognition technology for ‘the Internet of Things’. The support contributes to additional efforts to further development of next-generation fingerprint technology and secures the company’s participation in the international eGo(TM) project. The support partly funds certain activities during two years starting in June 2011.

Internet of Tings means that all kinds of objects which we often label “things”, and not only PCs and mobile phones, are connected to a network and communicate. For instance, it is conceivable that the owner can contact a lost wallet which responds by giving its position, a car calls for service or rescue when a fault or accident occurs, or goods containers are booking its onward transportation a couple of hours before arrival at a terminal. Logistics, health care, buildings and various alarm and alert systems are the most likely initial application areas.

“Reliable and simple ID is crucial in order to turn such a vision into reality in a secure manner while maintaining privacy,” says CEO Ralph W. Bernstein in IDEX.

“SmartFinger® Film, which is available now, is an ultra-thin and bendable fingerprint sensor. It is energy efficient and the software runs on low-end processors, which means it can be embedded in units of many types, shapes and forms,” Bernstein continues. “The project to which the funding applies, is part of our programme for developing next-generation sensor technology and software, where also the eGo project plays an important part.”

eGo is a pan-European project where IDEX is partner with several important companies in the card industry, among them Gemalto, STMicroelectronics, Precise Biometrics and Atos Worldline. The slogan of the project is “What you touch, is yours!” The project will enable the exchange of data and authentication information for any transaction, log-on or physical access. Security is established with just a touch. Only a legitimate user will be able to use an eGo device. This may add security in private and public businesses, at work places, in buildings, in transportation health care, payment processing and road traffic. The plan is to deliver eGo products to the market in the first quarter of 2013.

The Research Council has granted support to seven projects selected among 40 applicants to its VERDIKT programme, Core competencies and value creation in IT.

“We appreciate this financial support and it is very inspiring that The Research Council of Norway recognises and trusts that IDEX technology has potential for value creation in the Norwegian IT industry,” Ralph W. Bernstein concludes.

24 May 2011
IDEX ASA

Press contact:
Dr. Ralph W. Bernstein, CEO, +47 9305 9303, ralph.bernstein@idexbiometrics.com

About IDEX ASA
IDEX ASA is a Norwegian public company specializing in fingerprint imaging and recognition technology. IDEX’ vision is to ensure individuals a safe, secure and user-friendly use of personal ID. IDEX has developed the award-winning SmartFinger Film technology platform including the patented fingerprint imaging principle, sensing scheme and chip design. Combined with core software solutions for imaging and authentication, SmartFinger Film enables on-device enrollment, template storage and verification within the very same module. The SmartFinger Film sensor is thin and bendable and can be customized for a variety of applications such as One Time Password devices, Smartcards, ID cards, access control devices and biometric tokens. The SmartFinger technology is available to customers under an intellectual property (IP) licensing scheme or as SmartFinger Film sensor assemblies for integration into customers’ products. IDEX ASA (ticker IDEX) is listed at the Oslo Axess market place on the Oslo Børs (Oslo stock exchange). For more information, please visit www.idexbiometrics.com or contact IDEX at: mailbox@idexbiometrics.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.