Bank of England unveils The New Fiver on Innovia’s polymer substrate
2 June 2016
Wigton, United Kingdom - The Bank of England Governor Mark Carney has today unveiled the design of the new £5 banknote to be issued on Guardian™ polymer banknote substrate.
Based in Wigton in the North of England, Innovia is the world’s leading provider of technologically advanced polymer banknotes on its unique Guardian™ technology. By the end of 2016, it will have manufactured more than 50 billion banknotes for central banks around the world, or 99.96% of polymer banknotes in circulation.
Innovia’s Guardian™ polymer substrate uses high security Clarity™C film, manufactured using patented technology that is securely manufactured and inherently verifiable. The benefits of the technology include reducing counterfeiting levels significantly and substantially reducing the lifetime costs of banknotes to central banks. Other countries currently using Innovia’s polymer include Australia and Canada, where counterfeiting rates decreased by 98% after the introduction of Guardian™ polymer notes in 2011.
Innovia recently completed construction of a new £40m state-of-the-art facility at Innovia’s headquarters, built specifically to support the Bank of England’s future currency requirements.
Victoria Cleland, Chief Cashier of the Bank of England, said “This is an exciting time for Bank of England banknotes and we are grateful to Innovia for their help in the introduction of these state-of-the-art notes, which will be cleaner, safer and stronger.”
Mark Robertshaw, Chief Executive of Innovia Group, said “We are delighted to be working with the Bank of England to launch The New Fiver on our technologically advanced polymer. The note is beautifully designed and its introduction in the UK allows for a new generation of cleaner, safer and stronger banknotes with robust security features and the very latest in anti-counterfeit technology.”
The New Fiver will be issued on 13 September, with the new Guardian™ polymer £10 featuring Jane Austen entering circulation in summer 2017.
Further details about The New Fiver can be found on www.thenewfiver.co.uk.
For more information:
T +61 3 9303 0709