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