‘A strong vote of confidence’: Security Matters completes fifth capital raising of 2020
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Special Report: Security Matters (ASX:SMX) has raised $1.1 million from sophisticated and professional investors, in its fifth capital raising of the year (totaling over $10 million) – one that gives the company a financial runway into 2022.
Proceeds from the placement will be used to accelerate and speed adoption of SMX’s technology across its strategic market segments following the launch of its 3.0 blockchain platform, the successful completion of a proof of concept with Intel, and the opening of a Sustainability Competence Centre for Fashion.
Security Matters plans to soon progress its pilot projects into commercial contracts for companies transitioning to the sustainable circular economy.
“The most recent round of private placement signalled a strong vote of confidence and valuable support from new and existing shareholders,” says SMX founder and chief executive Haggai Alon.
“Following the achievement of key milestones with Intel with its successful proof of concept; the launch of a commercial ready 3.0 Blockchain platform that will be the key enabler for a sustainable circular economy; the opening of a Sustainability Competence Centre to enable fashion brands to successfully transition to a closed loop circular economy; and a $800k commercial contract with trueGold consortium to launch a fully transparent mine-to-marketplace ESG focused gold supply chain assurance solution.
“SMX is continuously progressing along its clear strategic roadmap for the SMX technology to be adopted and scale up across diverse market segments globally.
“SMX is the spearhead for credible and transparent ESG adoption as it addressed directly the issue of sustainable circularity from a tangible and physical aspect with its invisible molecular markers; digitally via its blockchain platform and financially it is an attractive investment for ESG funds.”
The proof of concept that Security Matters recently completed with Intel is among the revolutionary projects SMX has been working on. It could enable the computer chip giant to tell when their motherboards have been tampered with.
The SMX breakthrough digital twin (physical marking + blockchain) can track, trace, authenticate and verify products – both physically and digitally – at every stage of the supply chain, from raw materials to distribution and retail.
SMX is also implementing this technology for the fashion industry, with an initial focus on sunglasses, sports shoes and T-shirts.
Suppliers will be able to generate plastic credits and carbon credits that in turn would increase in value as the raw materials go through additional lifecycle loop counts. These credits could then be used to incentivise fashion brands and manufacturers to design for recyclability and the consumption of less virgin materials – thus enhancing the circular economy.
This article was developed in collaboration with Security Matters, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.