- SMX marker was introduced to steel slabs at the melting stage
and survived all manufacturing processes (casting, hot and cold
rolling, galvanizing simulation) through to product, melting until
galvanization.
- SMX is now entering commercial discussions, with a particular
focus on major US steel manufacturers
- SMX believes that major steel manufacturers will be aiming to
use SMX technology as a new high level industry standard to be
joined in the future by all qualified and reliable players both
downstream and upstream.
NEW
YORK, March 23, 2023 /PRNewswire/ -- SMX
(Security Matters) PLC (NASDAQ: SMX; SMXWW), a company focused on
digitizing physical objects on the blockchain to enable a circular
and closed loop economy, today announced that alongside a global
steel and mining leader, it has successfully marked steel at a
manufacturing facility in Europe,
for brand identification, ethical sourcing and for recycle and
reuse (green steel) purposes for electric vehicles and renewable
energy infrastructure.
SMX believes that steel manufacturers will be enhanced through
the successful marking of their steels with SMX's technology to
encourage recycle and reuse. This in turn will make steel - which
already uses an innovative process which is more efficient, uses
less energy, and emits significantly less carbon - more effective
and sustainable.
The SMX technology was introduced to the steel slabs at the
melting stage and survived all manufacturing processes (casting,
hot and cold rolling, galvanizing simulation) through to product,
melting until galvanization.
SMX's mine to refinery, to end product to recycling program has
had many successes in 2022 and 2023 and continues to expand with
commercial discussions with clients and brands expected throughout
2023, with further updates to be provided to the market when
appropriate.
About SMX
SMX is a forward looking, B2B white label technology company
which empowers companies across a variety of different industries,
including timber, rubber, palm oil, cocoa, steel, gold, luxury
goods, leather, plastics, and non-ferrous metals, to transition
successfully to a sustainable circular economy, thus reducing their
carbon footprint and waste.
SMX offers a robust, innovative, and scalable technology
solution that enables supply chain authentication, traceability,
and transparency, transforming businesses for participation in the
circular economy. Its technology gives materials in all states
of matter, solid, liquid, and gas, the ability to maintain a
virtual memory of their origination, processing and supply chain
journey, including the ability to authenticate provenance, as well
as to track recycling loop counts and the percentage of
authenticated and/or recycled materials contained. The data is
recorded digitally on blockchain, and a linking molecular chemical
marker is embedded in the product itself and can be read with
a proprietary reader. The SMX technology has been in active
operational use on a national scale by the Israeli Government for
more than ten years, is environmentally sustainable and has a
proven track record.
The SMX solution is an efficient, cost effective, drop-in
solution within an existing supply chain, enabling substantial
benefits for manufacturers, consumers, and others in the value
chain – and the planet, including providing the necessary data for
product recycling and re-use. In addition, the SMX technology
addresses the issue of the increase in waste globally by enabling
the increase in demand for verified, usable recycled materials by
creating a commoditized, tradable certified asset which is the
recycled material, which can be traded and sold to other players in
the value chain and ecosystem.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: matters
relating to the successful launch and implementation of SMX's joint
projects with manufacturers and other supply chain participants of
steel, rubber and other materials; changes in SMX's strategy,
future operations, financial position, estimated revenues and
losses, projected costs, prospects and plans; SMX's ability to
develop and launch new products and services; SMX's ability to
successfully and efficiently integrate future expansion plans and
opportunities; SMX's ability to grow its business in a
cost-effective manner; SMX's product development timeline and
estimated research and development costs; the implementation,
market acceptance and success of SMX's business model; developments
and projections relating to SMX's competitors and industry; and
SMX's approach and goals with respect to technology. These
forward-looking statements are based on information available as of
the date of this press release, and current expectations, forecasts
and assumptions, and involve a number of judgments, risks and
uncertainties. Accordingly, forward-looking statements should not
be relied upon as representing views as of any subsequent date, and
no obligation is undertaken to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws. As a
result of a number of known and unknown risks and uncertainties,
actual results or performance may be materially different from
those expressed or implied by these forward-looking statements.
Some factors that could cause actual results to differ include: the
ability to maintain the listing of the Company's shares on Nasdaq;
changes in applicable laws or regulations; the effects of the
COVID-19 pandemic on SMX's business; the ability to implement
business plans, forecasts, and other expectations, and identify and
realize additional opportunities; the risk of downturns and the
possibility of rapid change in the highly competitive industry in
which SMX operates; the risk that SMX and its current and future
collaborators are unable to successfully develop and commercialize
SMX's products or services, or experience significant delays in
doing so; the risk that the Company may never achieve or sustain
profitability; the risk that the Company will need to raise
additional capital to execute its business plan, which may not be
available on acceptable terms or at all; the risk that the Company
experiences difficulties in managing its growth and expanding
operations; the risk that third-party suppliers and manufacturers
are not able to fully and timely meet their obligations; the risk
that SMX is unable to secure or protect its intellectual property;
the possibility that SMX may be adversely affected by other
economic, business, and/or competitive factors; and other risks and
uncertainties described in SMX's filings from time to time with the
Securities and Exchange Commission.
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