Security Matters introduces 'SMX Plastic Circular Economy Online Unit'

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Security Matters Limited

06 Jul, 2021, 08:01 BST

Construction of Industrial scale identification and quantification using a conveyor belt reader system completed; commercial discussions have commenced.

  • SMX has completed construction of its blockchain-enabled industrial scale identification, authentication, and quantification on a conveyor belt detector, in collaboration with its strategic partners in the plastics sector.
  • The conveyor belt has been designed to meet the sorting and recycling requirements of major players in the plastics sector.
  • The system provides valuable information on the materials flowing through the value chain that will enable increase in recycling efficiency. The conveyor belt detector is now poised for commercial roll-out and commercial discussions have commenced.
  • Ready to be integrated as part of any sorting or recycling facilities, for any size or type of plastic (e.g. rigid and flexible packaging).
  • Watch the system live demo on SMX tech page, video #3, on company website: Security Matters - Technology (smx.tech)

MELBOURNE, Australia, July 6, 2021 /PRNewswire/ -- Security Matters Limited (ASX: SMX) (Security Matters or the Company), a company focused on digitising physical objects on the blockchain to enable a circular and closed loop economy, is delighted to announce it has completed construction of its industrial scale identification, authentication and sorting conveyor belt, specifically designed for the plastics industry. The conveyor belt is now poised for commercial roll out and SMX is in commercial discussions with a number of its strategic partners.

Overview and commercial advantages
Using SMX's mark, track and trace solution, plastics can store key information including manufacturer, plastics type, percentage of recycled content and recycling loop count, to enable the creation of the product's digital twin.

The conveyor belt detector will be an addition to SMX's overall solution that provides verifiable readings at each stakeholder location and allows stakeholders to transfer ownership of the material or product, record additional data points and attach documents through the user interface. These readings enable users to track and trace plastic packaging through all stages of the value chain, including sorting and mechanical recycling.

Providing one solution that is capable of marking tracking and tracing from raw material to final product, while offering full value chain transparency, is the missing gap for plastic circularity.

A revolutionary system to enhance the sorting capability for the Circular & Closed Loop Economy

  • Ready to be integrated into any recycling and sorting facility.
  • The ability to detect & quantify:
    • The name of the Brand owner
    • The % amount of recycled content
    • The type of polymer
    • The number of times the polymer has been recycled (loop counts)
  • The ability to integrate the system on any rigid or flexible plastic packaging that can be in any size or shreds of plastic.

Customisation options for Specific Requirements
SMX is able to customise its Conveyor Belt System to suit individual and specific requirements. These may include:

  • The ability to read rigid and flexible packaging (e.g. bottles and containers)
  • The ability to detect SMX 'marked' polymers among other waste
  • The Dimensions of the Conveyor Belt (width & length)
  • Speed of the Conveyor Belt

Haggai Alon, Founder and CEO comments:

"The SMX Plastic Circular Economy online unit is a revolutionary system that will unlock the ability to reclaim and reuse all types of plastic content.  By utilising SMX's breakthrough technology to 'mark' the plastic at virgin stage as well as at recycling and sorting facilities – this will enhance the sorting capability, resulting in higher rates of plastic recycling content."

By order of the Chief Executive Officer.

About Security Matters Limited
Security Matters has commenced the commercialisation of its unique, patented technology that uses a hidden chemical-based 'barcode' to permanently and irrevocably 'mark' any object, be it solid, liquid or gas. The barcode is read using the company's unique 'reader' to access the corresponding stored data, recorded and protected using blockchain technology.

Follow us through our social Twitter channel @secmattersltd

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SOURCE Security Matters Limited