The company has already received an advance payment to support the initial stages of the project.

Contactless smart-card developer OTI - On Track Innovations Ltd. (Nasdaq: OTIV; DAX: OT5) today announced that it has signed contracts worth more than $30 million altogether for a US national electronic ID program. The company has already received an advance payment to support the initial stages of the project and expects to see $20 million revenue from the project in 2010.
OTI's share rose 99% to NIS 2.80 at the opening on Nasdaq today. The share rose 27.4% to €1.25 earlier today on the Frankfurt Burse.