SMX’s special security features include the ability of invisibly marking substances with information on its exact geographical origin.

Security Matters’ (ASX:SMX) is partnering with leading Fortune 500 global trading and business investment company Sumitomo Corporation for the exclusive worldwide distribution to market and sell products for application in the Non-Ferrous Metals Market which includes metals other than iron and alloys that do not contain an appreciable amount of iron.

Additionally, Sumitomo will also be SMX’s exclusive worldwide reseller and sub-licensor of SMX’s products and services with respect to customers in the Non-Ferrous Metals Market.

SMX’s innovative tech platform specializes in digital tracking using unalterable chemical-based barcodes to enable the invisible labelling of Non-Ferrous Metals for geographical origination and authentication of a product with the potential to be linked to blockchain technology thus ensuring ethical sourcing, recycle and reuse.

US$35m sales target

The companies have agreed that over the coming years there is a target to reach US$35 million in sales.

SMX said it was honoured to be working collaboratively with Sumitomo to help achieve a more sustainable and ethical world for Non-Ferrous Metals.

“SMX believes that this Agreement brings the beginning of the successful transition to a truly circular economy for Non-Ferrous Metals – where every material is fully utilised, reducing the use of virgin materials.

“Together, we can authenticate sustainability requirements and further improve transparency of the Non-Ferrous Metals Market, with the aim of creating a new industry standard that ensures more Non-Ferrous Metals can be recycled.”

Traceability along the supply chain

Sumitomo Corporation said they are “thrilled” to pursue the collaboration globally in the Non-Ferrous Metals market with Security Matters by utilising its unique technology.

“Security Matter’s innovative technology provides unique ID directly to the objects without affecting physical properties, supplies optimal solutions to match information and the objects, and enables traceability from raw materials to product supply chain and its product life,” the company said.

“Together with SMX’s leadership in its technology and with our global network, we will contribute to social and ethical issues in the Non-Ferrous Metals market, creating new value to the industry.”

Forgery-proof blockchain technology

With the aid of SMX special reading devices and specially developed software, the information on the Non-Ferrous Metals can be read out and its origin can be precisely assigned at any time.

As part of the industrialization of this technology, it would also be conceivable for the marker technology to be linked to blockchain technology, which is known to be particularly forgery-proof.

Thus, SMX’s special marker technology, is intended to contribute to even greater transparency and traceability along the entire Non-Ferrous Metals Market while enabling companies to:

  • Accurately identify the Non-Ferrous Metal(s) have been ethically sourced;
  • Digitally certify the grade/quality of the Non-Ferrous Metal(s);
  • Accurately identify the amount of Non-Ferrous Metal(s) contained in the finished good; and
  • Enable the reuse/recycle of the finished good at the end of life.

This article was developed in collaboration with Security Matters Limited, 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.

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