NEW
YORK, March 27, 2024 /PRNewswire/ -- SMX
(Security Matters) PLC (NASDAQ: SMX; SMXWW), a pioneer in
digitizing physical objects for a circular economy, has announced
today that it finalized a solution to track and report the ethical
sourcing of ores and can demonstrate a market-leading verification
process for premium steel products spanning virgin and recycled
steel.
SMX's technology would enabled customers to demonstrate with
accurate data embedded within their steel products that they can
track, authenticate and report origination and amount of recycled
content in steel products, in an enhanced and compliant manner
across their operations.
Objectives & Success criteria:
- To implement SMX's unique marking technology within IF steel by
embedding the technology within IF steel slabs (raw material)
during the melting stage at the authorized facility for
authentication of the steel's origin.
- To detect SMX's marking systems within the IF steel after each
process stage from casting to galvanization.
- To ensure the durability of SMX's marking system after each
stage of the manufacturing process and provide traceability of the
IF steel during its production process while maintaining IF steel
properties.
- To demonstrate that SMX's marking system embedded within steel
does not affect the material or the mechanical properties of the
material and final product.
Outcomes:
SMX successfully implemented its marking system across several
batches of the steel slabs at the melting stage and was able to
differentiate marked from unmarked steel material, providing
authentication of the steel's origin.
SMX's marking system was successfully detected throughout the
steel production process from melting, casting, hot & cold
rolling, annealing to galvanization, demonstrating its durability
and traceability functionality.
SMX's unique technology provided a non-destructive way of
tracing, identifying, authenticating and validating the marked IF
steel. This was confirmed during blind testing where 100% of all
samples were read successfully.
SMX's marking system was confirmed to deliver the results while
ensuring all the mechanical and material properties remained intact
covering tensile strength, microstructure, hardness, grain size,
and adherence.
SMX demonstrated consistently its capability to implement
its marking system within the production process and report in a
nondestructive manner accurate data from raw material to final
product, thereby enabling complete traceability and
authenticity.
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About SMX
As global businesses face 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.
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 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, including its planned Plastic Cycle Token;
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; any lingering 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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SOURCE SMX
