Identiv Partners with TrueGreen to Accelerate RFID-Enabled Smart Packaging in Cannabis Market

Rhea-AI Summary

Identiv (NASDAQ: INVE) has announced a strategic partnership with TrueGreen to enhance digitization in the cannabis industry through RFID and NFC technology. This partnership aims to meet the rising demand as the U.S. cannabis market is projected to grow from $20 billion in 2021 to $45 billion by 2025. Identiv has developed five new RFID/NFC designs tailored for cannabis smart packaging, enabling improved product security and real-time data management. Deployments with industry leaders are set to begin in Q1 2022.

Positive

• Strategic partnership with TrueGreen to digitize cannabis products, tapping into a growing market.
• Development of five new RFID/NFC designs specifically for cannabis packaging.
• Increased product security and real-time data insights for cannabis growers and consumers.
• Projected growth of the U.S. cannabis market from $20 billion in 2021 to $45 billion by 2025.

Negative

• None.

Company Continues High-Momentum Growth in Digitized Consumer Experiences

FREMONT, Calif., Dec. 13, 2021 (GLOBE NEWSWIRE) -- Identiv, Inc. (NASDAQ: INVE), a global leader in digital security and identification in the Internet of Things (IoT), today announced a strategic partnership with TrueGreen to digitize cannabis products and smart packaging with radio frequency identification (RFID) and near field communication (NFC) technology.

“Our partnership with TrueGreen is accelerating quickly to meet the demands of the growing cannabis industry,” said Amir Khoshniyati, Identiv General Manager and Vice President, Transponder Business. “In the second half of this year, we developed five new proprietary multi-use RFID/NFC designs customized for the unique requirements of cannabis smart packaging.”

AIM North America notes the 2021 market size of the U.S. cannabis industry is approximately $20 billion and is forecast to grow to $45 billion by 2025.

TrueGreen provides the world’s first cloud-based cannabis asset and smart packaging management platform powered by Identiv’s customized best-in-class RFID, NFC, and sensor designs. The solution offers unrivaled product security for cannabis growers, marketers, and customers and enables companies to capture real-time information and act on data-driven insights across the value chain. This new platform:

• Digitizes individual cannabis products with unique RFID/NFC signatures
• Supports ultra high frequency (UHF) asset tracking throughout the supply chain
• Authenticates product and protects against package tampering
• Creates compliant, personalized marketing and customer engagement

“Our collaboration with Identiv brings unsurpassed experience, innovation, and depth in RFID, NFC, and sensor design. It will transform how the industry is leveraging critical data at every step of their business from farm to fingertip,” said Tim Daly, TrueGreen President.

Deployments with leading industry customers will begin to roll out in the first quarter of 2022.

Identiv’s RFID and NFC solutions verify identities and security in the IoT and are embedded in billions of everyday objects, including medical devices, books, toys, athletic apparel, perishable, and pharmaceuticals. For more information on Identiv’s complete end-to-end portfolio, call +1 888.809.8880 or contact sales@identiv.com.

About Identiv
Identiv, Inc. is a global leader in digitally securing the physical world. Identiv’s platform encompasses RFID and NFC, cybersecurity, and the full spectrum of physical access, video, and audio security. Identiv is a publicly traded company, and its common stock is listed on the NASDAQ Stock Market LLC in the U.S. under the symbol “INVE.” For more information, visit identiv.com.

​​About TrueGreen
TrueGreen is the world’s first smart packaging technology addressing the diverse needs of cannabis industry regulators, growers and consumers. From farm to fingertip, TrueGreen automates product and consumer data in real-time to enhance convenience and deliver insights that drive growth and brand loyalty while ensuring product safety and control. TrueGreen: Your Cannabis, Made Smarter™. For more information, visit TrueGreenGlobal.com.

Identiv Media Contact:
press@identiv.com

TrueGreen Media Contact:
tim@truegreenglobal.com

FAQ

What is Identiv's recent partnership about?

Identiv has partnered with TrueGreen to digitize cannabis products and packaging using RFID and NFC technology.

What market is Identiv targeting with its new partnership?

Identiv is targeting the growing U.S. cannabis market, projected to expand from $20 billion in 2021 to $45 billion by 2025.

When will the new solutions from Identiv and TrueGreen be deployed?

Deployments with leading industry customers are scheduled to begin in the first quarter of 2022.

What technology is Identiv using for the cannabis industry?

Identiv is utilizing RFID and NFC technologies to enhance product security and data management in the cannabis sector.

How many new designs did Identiv develop for cannabis packaging?

Identiv developed five new proprietary multi-use RFID/NFC designs tailored for cannabis smart packaging.