SMX partners with REDWAVE to enhance plastic recycling verification

NEW YORK - SMX (NASDAQ:SMX) announced Monday a Letter of Intent with BT-Systems’ Competence Center REDWAVE to integrate molecular traceability technology into industrial-scale recycling systems. The company, currently trading at $1.44, has seen its stock price decline significantly over the past year, with InvestingPro data showing a negative 99.97% total return.

The partnership aims to combine SMX’s molecular-level markers and blockchain verification with REDWAVE’s sorting and detection systems to create a recycling process that not only separates materials but also certifies their origin and composition in real time. According to InvestingPro analysis, SMX faces significant financial challenges with a current ratio of 0.08, indicating potential liquidity concerns. InvestingPro subscribers have access to 14 additional key insights about SMX’s financial health and market position.

According to the press release, the collaboration will focus on three main objectives: integrating SMX’s traceability technology into REDWAVE’s platforms, ensuring recycled materials re-enter supply chains with guaranteed compliance, and establishing industry standards for recycled content verification.

The agreement includes plans for joint industrial deployments and scaled-up integrated systems to implement the combined technologies.

SMX’s technology embeds molecular markers directly into materials, creating a digital record that can be traced throughout the supply chain. This system works alongside the company’s Plastic Cycle Token (PCT), which aims to transform verified recycled content into a tradable asset.

REDWAVE, based in Austria, provides high-speed sorting and detection systems for recycling facilities worldwide.

"This collaboration is a pivotal step," said SMX’s CEO, according to the statement. The partnership represents another addition to SMX’s growing portfolio of industrial collaborations, which includes Singapore’s plastics passport initiative and partnerships with various brands.

The announcement follows several recent developments in SMX’s strategy to create verifiable standards for recycled materials across global markets.

The information is based on a press release statement from SMX. The companies did not disclose financial terms or a specific timeline for implementation of the joint initiatives.

In other recent news, SMX has made significant strides with the launch of the world’s first national plastics passport system in Singapore, in collaboration with Singapore’s Agency for Science, Technology and Research (ASTAR). This innovative system utilizes SMX’s molecular marker technology to embed unique codes into plastic materials, creating digital passports that track materials throughout their lifecycle. Additionally, SMX announced its development of a molecular marking technology and digital plastic passport system aimed at standardizing recycling verification across international borders.

Singapore’s government-backed national plastic passport program, supported by SMX technology, seeks to enhance recycling rates by embedding intelligence into plastics, enabling comprehensive tracking from production to reuse. In a bid to support global plastic circularity, SMX has offered its Global Plastics Passport technology for free licensing, aligning with efforts for a UN Plastics Treaty. Furthermore, SMX has partnered with Bio-Packaging Pte Ltd to incorporate its molecular tracking technology into sustainable packaging products, ensuring traceability and verification of sustainability credentials. These developments underscore SMX’s commitment to advancing plastic recycling and sustainability efforts globally.

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