Identiv Partners with TrueGreen to Accelerate RFID-Enabled Smart Packaging in Cannabis Market
Company Continues High-Momentum Growth in Digitized Consumer Experiences
Identiv, Inc. (NASDAQ: INVE), a global leader in digital security and identification in the Internet of Things (IoT), has 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.