SMX to help foresters and insurance companies monitor assets during bushfire seasons while assisting the forestry and wood industry meet European Green Deal legal requirements.
MELBOURNE, Australia, Nov. 10, 2021 /PRNewswire/ — Security Matters’ https://smx.tech/home (ASX: SMX) (“SMX” and “the Company”) a next-generation brand protection and authentication service provider announces it is launching a forest, lumber and wood biomarking operation with a focus on Eucalyptus gum trees. After a year of research and laboratory trials, SMX has begun field trials providing an end-to-end chemical-based barcode tracing solution for the complete cycle of the wood product from seed and plant to manufacturing, wet and dry lumber as well as recycled wood-based products has commenced.
The launch of the operation sees SMX strengthen its blockchain platform and Fashion Sustainability Competence Centre, help foresters, lumber and wood associated companies meet European Green Deal regulations by providing proof of evidence for sustainable plantations to the product level. The unique biomarker can also be used for inventory tracking and insurance purposes, especially during bushfire seasons.
“The timber and lumber industries versatility ranges from construction to clothing and fashion, insurance, and everything in between. Yet, the ability to mark, track and trace products for authentication, carbon credits, and sustainability has been notoriously difficult until now. Through SMX’s unique capabilities, we are the first to solve this multi-industry issue through a ready, easy to implement and scalable solution that can easily detect the origination and traceability data embedded in timber lumber and fibres through SMX’s proprietary reader within seconds, without the need for extensive lab tests,” said Haggai Alon, CEO and Co-Founder of Security Matters.
An enhanced Green Deal economy with SMX’s blockchain platform
The European Union is at the forefront of the green initiative. Its recent proposals and ambitious targets to reduce carbon emissions by 55% by 2030 and achieve climate neutrality by 2050 have reshaped the conversation on sustainability and highlighted that more needs to be done to ensure a sustainable future.
The expansion of SMX’s biomarker operation beyond the plastics circularity industry and the Fashion Sustainability Competence Centre connects the ethical growing of wood forests/plantations to the ethical consumption of trees within one system for the first time.
Furthermore, its market-leading complete supply-chain tracking solution ensures that companies in the forest, lumber and wood industry and end-retailers using fabrics from wood fibres operate their businesses per European Green deal regulations. It also opens a new pathway to sustainability by providing access to green credits and the ability to identify the origination of fibres and timber for sorting and recycling for future use.
About Security Matters Limited
Security Matters is a next-generation brand protection, authentication and product tagging company that uses patented hidden chemical-based ‘barcode’ technology 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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