Dotz Nano Ltd (ASX:DTZ) has successfully developed a process to tag fuel derivatives with graphene quantum dots (GQDs).
The technology allows GQDs to be optimally added to fuel derivatives via a patent pending method so that the GQDs cannot be easily "laundered" or "washed out" from the fuel.
The GQD is an advanced multi-functional material used in various applications including medical imaging, sensing, consumer electronics, energy storage, solar cells and computer storage.
The new fuel application has successfully withstood various testing procedures used in international bids for fuel taggants.
This was achieved by working closely with two international anti-counterfeiting/brand protection companies.
Dotz Nano has also submitted a patent application on the specific tagging of fuels with GQDs.
The high price and high rate of taxation on fuel makes it an attractive target for theft, particularly within a company that has private fuel storage.
Importantly, the GQD technology makes it hard to launder the taggant out of the fuel and as such can be a solution for the anti-counterfeiting/brand protection application.
The petroleum and fuel marker market is a multi-billion dollar, lucrative market with first tier players such as BASF, SICPA and Authentix.
Dotz Nano is aiming to collaborate with several of them for the implementation of its GQD technology into the fuel authentication market.