Security Matters’ digital blockchain solution for UK companies facing the new 30% tax on plastic packaging, is a step closer after strong results from an industrial scale facility. Image: Getty
Tech
Security Matters’ digital blockchain solution for UK companies facing the new 30% tax on plastic packaging, is a step closer after strong results from an industrial scale facility.
Security Matters (ASX:SMX), a market leader in the digitisation of physical assets on the blockchain in the global shift to a circular economy, has successfully completed industrial readiness for marking recycled plastics, by studying the impact of different feeding methods on final Post Consumer Recyclate (PCR) readings and verifying accuracy and reproducibility of markers.
This comes as the UK and other countries have or will soon implement recycled plastic packaging tax legislations.
Companies using SMX’s blockchain automated auditing technology will have the ability to avoid potential human/manual-paper auditing errors as they conform to the new legislation with increased cost savings.
The compounding master batch (MB) and extrusion processes of the industrial readiness were performed on a pilot scale in a fully commercial and industrial facility.
The firm’s MB marker was successfully added into PCR during the compounding phase by a recycling facility.
During each melt extrusion a new marker system was incorporated via a MB form to indicate the start of a new loop.
Throughout production days, blind tests were conducted to ensure SMX’s capabilities were successfully completed.
The marked PCR pellets were sent to a bottle manufacturer to produce different configurations to validate the accuracy and precision of PCR in the bottles.
The SMX team successfully demonstrated the ability to manage the process remotely, ensuring viability of industrial scale adoption. The marked PCR and bottles were scanned using an SMX handheld portable reader with all readings digitally recorded on a digital platform for traceability.
The methodology used ~50 different bottles, produced with different inclusion levels, layer configurations and pigment choices, which were produced in the three loops:
Following the industrial readiness, it was found that:
SMX believes the successful readiness on an industrial scale provides plastic manufacturers and importing companies with a proof of concept, enabling them to accurately identify and audit the polymer type, number of loops and amount of recycled content despite the size and colour of the plastic.
As a result, companies will be well positioned to promote their operations as being sustainable and environmentally friendly.
Combined with SMX’s ability to digitally certify the materials, SMX clients can avoid human/manual-paper auditing and use technology/automated auditing, which will in turn reduce potential for human errors and provide increased cost savings.
Since the 2021 United Nations Climate Change Conference, more commonly referred to as COP26, companies have begun to understand the need to accurately identify and increase the use of recycled content within all their products.
SMX has the solution to track, trace, certify and authenticate all gas, liquid, and solid products across a supply chain from raw material, through production, to product and waste and recycle and reuse.
SMX is continuing to cement a solid global reputation for its solution to create a circular economy.
And the company has joined the Global Platform for Sustainable Natural Rubber (GPSNR) and 4evergreen, a cross-industry alliance committed to the circularity of global fibre-based packaging.
SMX Founder and CEO Haggai Alon said the company was extremely proud of the successful outcome of the success of industrial readiness which will enable companies to join the global sustainability effort and to comply with the new plastic regulations as they endeavour to meet their business goals.
“Our revolutionary and innovative technology will provide companies with not only an economical solution to identify and report transparently on their recycled content used in plastic packaging, but also remove their dependency on human and paper auditing,” Alon said.
“The ability to recycle and reuse plastics efficiently and cost effectively, ensures a more sustainable future for the planet.”
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.
Get the latest Stockhead news delivered free to your inbox.
