NEW YORK, NY - (NewMediaWire) - Security Matters plc (NASDAQ: SMX) ("SMX" or "the Company"), a company focused on digitizing physical objects on the blockchain to enable a circular and closed loop economy, is proud to share an update on strong growth that has been generated thus far in 2023.
"Our clients are managing the transformation from linear to circular by having one technology to handle all three sustainability aspects; ethical sourcing, ESG impact and increasing the amount of recycled content usage," said CEO Haggai Alon. "From fashion to natural rubber to metals and minerals, SMX technology enables companies to mark and digitize physical materials onto a private blockchain platform. We are delivering clear, crisp, and transparent data tracking to significantly assist our clients' transition into a low-carbon economy."
As a result of its rapid growth in client adoption across several industries for its proprietary technologies, SMX has achieved 100% year-to-date growth in commercialization. The Company says they anticipate generating revenue growth in 2023, as a result.
SMX details its commercial relationships with Sumitomo Corporation, one of the world's largest general trading companies, and Continental AG, a German tire manufacturer, who in collaboration with SMX has just recently won the Environmental Achievement of the Year – Manufacturing Award. In the case of SMX's relationship with Sumitomo Corporation, the Company has set a target goal of $35 million in sales, as a result of the trading company's utilization of SMX's special security technology features specifically for the invisible labeling of nonferrous metals with geographical origination and authentication information.
The Company has also stated its goal of further expanding its commercial relationships in the metals and mining industries. The Company’s subsidiary trueSilver recently entered into collaboration with Sunshine Minting to help create industry standards for the ethical sourcing of silver.
"SMX has made critical inroads in penetrating vital industry segments and driving client adoption, and we expect the momentum to continue," said CEO Haggai Alon. "As with any innovation and technology breakthrough, it takes time to adopt and integrate. We are now seeing the beginnings of that adoption with clients integrating our technology into their supply chain management."
SMX’s technology supports a circular economy for sourcing materials by providing insights into every stage of a material’s lifecycle stage, from virgin raw material to end-of-life recycling. This helps to provide a pathway to a healthier economy, which can increase recycling and the reusing of materials, rather than increasing waste.
For more information about the company's products, latest news, and ongoing initiatives, visit https://smx.tech/home and https://spotlightgrowth.com/smx-nasdaq-smx-forecasts-revenue-growth-in-2023-driven-by-client-adoption-across-industries
SMX integrates chemistry, physics, and computer science to give materials memory and create a culture of transparency and trust across multiple industries. The company's nearly 100 patents support unique marking, measuring, and tracking technologies allowing clients to seamlessly deploy transparency at all levels of development and provide all stakeholders with a complete provenance of material composition and history, from virgin material to recycled, to address manufacturing challenges and ESG goals while maintaining sustainable growth. As a result, SMX's technologies help companies address ESG commitments and transition more successfully to a low-carbon economy.
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