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- Security Matters (SMX) says its unique tech will help the alliance progress towards a “more innovative, sustainable, and tangible” way to enhance the fibre-based packaging industry
- ASX-listed Security Matters joins 4evergreen: a cross-industry alliance focussed on transforming fibre-based packaging into a sustainable and circular economy
- This is particularly pertinent following the recent announcement of the European Green Deal for the EU and of Australia’s commitments to net-zero emissions by 2050
- SMX’s tech helps producers and consumers determine if the materials they use have been ethically sourced and gives them confidence in the authenticity of finished goods
ASX-listed Security Matters (SMX) has joined 4evergreen: a cross-industry alliance focussed on transforming fibre-based packaging into a sustainable and circular economy.
Security Matters said joining the alliance was a “logical next step” for the business following the recent launch of its digitisation technology for the forest, lumber, and wood sector.
This puts SMX in a place where its ability to sell and market the technology in the European market is in the best position. SMX is now in direct contact with future clients and provides them with the ability to help them to deal with E-waste packaging, which is a big pressure on brands
This is part of the strategic plan on SMX to roll out its technology in the EU and Scandinavia relating to fibre-based solutions which are diverse into two applications – fashion and consumer goods. More than that SMX strategy is to pinpoint and help brands deal with e-waste packaging which is the biggest challenge and client demand. By joining 4evergreen, SMX is around the same table with its clients and partners and able to scale their technology.
The unique technology is designed to digitise physical objects onto a blockchain-based network by embedding them with a sub-molecular mark that can be tracked throughout a material’s life cycle.
This helps producers and consumers determine if the materials they use have been ethically sourced, and it gives them full confidence in the authenticity of the finished goods.
As for the 4evergreen partnership, SMX said it will be able to contribute to the alliance’s efforts by providing a full end-to-end solution from “seed to plant to product to recycle and reuse”.
Security Matters Founder and CEO Haggai Alon said by working with 4evergreen and its members, the company will be able to help the alliance progress towards a “more innovative, sustainable, and tangible” way to enhance the fibre-based packaging industry.
“We can help these players to achieve their ESG (environmental, social, and governance) objectives and enable them to successfully transition to a truly circular economy to encourage a recycling rate of 90 per cent by 2030,” Mr Alon said.
Meanwhile, 4evergreen Chair Hans Wortman said the alliance was “delighted” to welcome SMX as its newest member.
“We appreciate their innovative outlook and look forward to working together with SMX and other 4evergreen members to develop solutions, guidelines and protocols to improve the recyclability of fibre-based packaging,” Mr Wortman said.
Fibre packaging circularity
4evergreen’s focus on perfecting the circularity of fibre-based packaging essentially boils down to recyclability; a ‘circular’ solution means all fibre-based packaging returns to the supply chain once used instead of going to landfill.
Security Matters said the need for sustainable and circular materials has increased in the EU following the recent announcement of the European Green Deal. The same can be argued for Australia, according to the company, given the recent commitment to net-zero carbon emissions by 2050.
What’s more, a 2019 report by international consulting firm McKinsey found fibre-based packaging represented 38 per cent of all packaging brought to the market in Europe. As such, SMX said the circularity of these types of products was important to contributing to a climate-neutral society.
“SMX’s circular sustainable solution will enable forest, lumber and wood companies who operate in and/or trade with the EU to comply with the new European Green deal regulations, by verifying sustainable supply chains and enabling supply chain diligence for ESG,” the company said.
SMX’s technology works by marking a physical object and linking it to an online system for verification. Given the sub-molecular nature of the mark, the tech can be applied to a solid, liquid, or even a gas to permanently embed data within any object, according to SMX.
