- Using SMX's platform that combines physical mark, track and
trace solution and a digital twin blockchain platform solution,
plastic products of any shape, size and/or color can store key
information to detect & quantify:
-
- Loop Counts - The number of times the polymer has been
recycled
- Amount of recycled content percentage
- The brand owner's name
- For further information please visit
https://smx.tech/equilibrium-life
NEW
YORK, April 20, 2023 /PRNewswire/ -- SMX
(Security Matters) plc1(NASDAQ: SMX; SMXWW) is pleased
to announce for Earth Day (22 April), the world's largest
environmental movement day, its part in the global sustainability
effort by enabling companies and industries to comply with plastic
regulations as they endeavour to meet their business goals and make
plastic green.
As one of the six official pledges on Earth Day
20232, SMX's technology can do its part to help end
plastic pollution, through its innovative technology which enables
recyclers the ability to easily identify the type of plastic and
the recycled loop counts for sorting and recycling
purposes.
The recent Frost and Sullivan Market Analysis
report345 on SMX, which projects the price target range
to be US$6.50 per share, states that
recycled plastic packaging is expected to grow to 102 Mn tons by
2023, equating to a US$102Bn
industry. Further, the report also states that "PET, HDPE, LDPE,
PVC and PP recycling rates will increase to 66.8%, 57%, 36% 48% and
47.1% respectively".
As stated by earthday.org "companies who've developed strong ESG
standards are seeing better profitability, stronger financial
performance, and happier employees. There is no longer a choice
between going green and growing long term profits. It is critical
for businesses of all sizes to act now." SMX is able to address
some of these key unmet needs of the plastic recycling industry
particularly with regards to hard-to-recycle post-consumer plastic
segments.
With a growing focus on environmental, social and governance
(ESG) rules, clean energy, minimizing single-use plastic waste and
incentivizing the use of recycled material in the production of
plastic packaging, countries throughout Europe (UK6 and EU7) are
leveraging, in various forms, Plastic Packaging Taxes (PPT) on
plastic packaging that does not contain any, or less than a certain
amount of, recycled plastic. SMX believes that similar regulations
will be introduced to the United
States in the near future and SMX has the technology to help
American companies to prepare.
SMX's unique drop-in marking solution survives all processing
and provides plastic recycled producers and sellers with the
ability to digitally and physically mark all kinds of plastic
recycled materials, thus ensuring accurate and efficient auditing
systems.
By utilizing this technology to achieve compliance with PPT
requirements, companies would be shifting from a linear approach to
the economy to a circular one, benefiting from supply chain
transparency, removing their dependency on human and paper
auditing, minimizing the financial and operational impact on the
additional costs of meeting these regulations and greater resource
efficiency – such as higher rates of recycling and reduced
greenhouse gas emissions.
With the capacity to track, trace, certify, and authenticate all
gas, liquid, and solid products throughout the entire supply chain
from raw material, eventual product, to recyclables and reuse, SMX
provides an all-encompassing solution that sets the stage for a
circular economy.
About SMX
As global businesses faces new and complex challenges relating
to carbon neutrality and meeting new governmental and regional
regulations and standards, SMX is able to offer players along
the value chain access to its marking, tracking, measuring and
digital platform technology to transition more successfully to a
low-carbon economy.
The Frost & Sullivan Market Analysis report is delivered
pursuant to an annual contract as between SMX and Frost &
Sullivan, pursuant to which SMX pays Frost & Sullivan to
provides coverage and analysis of SMX and its business. SMX
provides company information to Frost & Sullivan for it to
prepare its reports.
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
referred to in the Frost & Sullivan Market Analysis report
including projections relating to SMX's share price, matters
relating to the Company's fight against abusive and possibly
illegal trading tactics against the Company's stock; 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.
Follow us through our social channel @secmattersltd
1https://smx.tech
2https://www.earthday.org/earth-day-2023/
3https://smx.tech/assets/pdf/17042023_SMX_report_April%202023.pdf
4https://www.prnewswire.com/news-releases/frost--sullivan-analysts-coverage-of-smx-security-matters-plc-301798897.html
5https://www.prnewswire.com/news-releases/frost--sullivan-projects-near-term-smx-share-price-to-be-us6-50--301798674.html
6https://www.gov.uk/guidance/check-if-you-need-to-register-for-plastic-packaging-tax#:~:text=Packaging%20should%20only%20contain%20recycled,tonne%20from%201%20April%202023
7https://commission.europa.eu/strategy-and-policy/eu-budget/long-term-eu-budget/2021-2027/revenue/own-resources/plastics-own-resource_en
View original content to download
multimedia:https://www.prnewswire.com/news-releases/frost-and-sullivan-projects-us6-50-smx-shares-path-for-potential-domination-by-smx-with-patented-plastic-recycle-solution-special-for-earth-day-focus-301803102.html
SOURCE SMX