Security Matters wants to use its technology to keep farms and crops clean
Special Report: Security Matters is cleaning up just days after joining the ASX.
The brand protection, supply chain integrity and blockchain technology company (ASX:SMX) closed up 32 per cent at 37c on Tuesday after filing a new patent application.
That compares to its 20c issue price.
Security Matters expects continued growth after filing the new patent application which aims to detect plastic contamination in crops.
Security Matters’ technology is known as “The Intelligence on Things” and allows any solid, liquid or gas to be invisibly and irrevocably ‘marked’ using a chemical-based barcode, and ‘read’ using a unique proprietary reader.
It provides a safe, effective and unique way to track items from raw materials through to manufacturing and sale and now, it’s turning its attention to the problem of plastic.
Plastic pollution is a major problem within the agriculture industry with an estimated 100,000 to 700,000 metric tonnes of microplastic finding its way onto farmlands across North America and Europe alone.
Micro-plastic can impact water supplies, crops, produce and the overall health of an environment.
Now, Security Matters hopes its unique technology is the solution.
How it all works
Its new patent application focuses using technology to identify plastic fragments and shreds in crops – essentially, small remnants left from packages, stacks or bales of crop or within a moving bulk of crop, during post-harvest processing.
Its technology will ‘mark’ plastic and agricultural products such as nets, films and packages for accurate identification at a later date.
Experts say the EU uses more than 100,000 tonnes of plastic mulch per year but only about a third of it is actually collected after use, leaving much of it to be left, landfilled or burnt.
An even smaller amount of the plastic is biodegradable.
Security Matters’ technology would be able to source the type of plastic in the crop, enabling extraction and prevention.
The company’s founder and CEO Haggai Alon says the patent application demonstrates the technology’s potential to make a different across a number of industries.
“Plastic contamination in farming and agriculture is a global issue and we are working hard to reduce and even prevent this happening entirely.”
“This application symbolised the growing industry support of our technology.”
Quick off the mark
It’s been a great start for Security Matters, following its listing last week.
The company has already been successful in securing a number of Memorandums of Understanding (MoU) and proof of concept trials, including with several leading global companies across a range of sectors.
It also says it is progressing other discussions across a range of potential opportunities and expects to share additional commercial outcomes in the coming months.
Last week, Security Matters also announced it was one of only 12 companies accepted into Intel’s Ingenuity Partner Program, which will see the company receive one-on-one guidance from Intel’s technical experts to improve its products and the opportunity to leverage Intel’s technology resources, global deployment and extensive network.
Security Matters is a Stockhead advertiser.