Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Security Matters (SMX) teams up with a significant organisation in Michigan to help one of the world’s largest automotive industry areas become a long-term leader in the circular economy
  • SMX’s technology allows the automobile industry’s resins and molecules to be implanted with recycling symbols, considerably enhancing the industry’s recycling capabilities
  • Through collaborations, NextCycle Michigan provides avenues for supporting innovation in order to establish a robust recycling supply chain in Michigan
  • SMX will be able to support NextCycle Michigan’s efforts by offering a complete end-to-end solution from raw material to product for recycling and reuse

Security Matters (SMX) has teamed up with a significant organisation in Michigan to help one of the world’s largest automotive industry areas become a long-term leader in the circular economy.

SMX has teamed up with NextCycle Michigan, which provides an innovative method for identifying and incubating ideas that will help increase Michigan’s recycled materials supply chain and end markets.

Security Matters is focused on digitising physical objects on the blockchain to create a circular and transparent solution for the closed-loop economy.

With SMX’s circular sustainable solution, plastic producers and recycling firms will be able to assure supply chain scrutiny for improved ESG.

SMX’s technology allows the automobile industry’s resins and molecules to be implanted with recycling symbols, considerably enhancing the industry’s recycling capabilities.

North American expansion

This is the second North American operation for the company, and it is part of SMX’s goal, which began in 2020/2021, to deploy the SMX technology in North America by 2022.

This plan began in 2020 with BASF’s reciChain initiative, which began in British Columbia and has since moved to other regions of Canada, and deployed SMX’s technology throughout their whole product value chain to increase traceability and transparency.

This new collaboration comes on the heels of SMX’s successful proof of concept with plastic, rubber (natural and synthetic), and timber and lumber marking and recyclability in 2021, which supports a circular, sustainable solution for the recycled material sectors.

SMX’s plastics, rubber (natural and synthetic), and timber and lumber sections have transitioned to commercial operations, with commercial agreements with a number of corporations being finalised.

SMX will be able to support NextCycle Michigan’s efforts by offering a complete end-to-end solution from raw material to product for recycling and reuse.

Becoming a partner of NextCycle Michigan is the natural next step for SMX given their similar objectives and goals, which include growing and supporting a circular economy in Michigan, creating a robust recycled materials supply chain, and making a beneficial influence on the globe.

Michigan State will be able to lead the world in becoming the first sustainable automobile industry by utilising SMX’s technology, as well as attract investments and start-ups in the recycled materials sector and creative technology to assure the circular economy of post-consumer plastic items.

A sustainable Michigan industrial sector

NextCycle Michigan is a Michigan Department of Environment, Great Lakes, and Energy (EGLE) effort led by Resource Recycling Systems Inc. and supported by the Michigan Recycling Coalition and the Centrepolis Accelerator at Lawrence Technological University.

Through collaborations, NextCycle Michigan provides avenues for supporting innovation in order to establish a robust recycling supply chain in Michigan.

NextCycle Michigan Partners are part of a large network of public and private organisations eager to collaborate and make a good difference. Academia, automotive, economic development, end market, finance, food and beverage, health care, manufacturing, non-profit, public sector, and trade organisations are among the industries represented by partners.

Since 2020, NextCycle Michigan has committed more than $97 million in state and private financing for new recycling and recovery initiatives, collaborations, collaborative efforts, or direct sponsorship of NextCycle Michigan’s Innovation Challenges. Michigan has about 2.75 million Michigan homes and more than 70 communities in the region.

SMX Founder and CEO, Haggai Alon said with the help of the company’s technology, Michigan can be the first sustainable automotive statee in the world.

“By working with NextCycle Michigan and their members, we will enable the automotive industry, which is in Michigan State, to enjoy the SMX capabilities and fulfill the vision of 100% recyclable and reusable automotive products,” he said.

“Further though our joint work, NextCycle Michigan and SMX can progress Michigan towards a more innovative, sustainable and tangible way to enhance the recycled material industry. And help these players to achieve their ESG objectives and enable them to successful transition to a truly circular economy to encourage a recycling rate of 30% by 2025.”

SMX by the numbers

More From The Market Herald

" Crowd Media (ASX:CM8): Talking Head and the new age of consumer interaction

ASX-listed Crowd Media (ASX:CM8) is no stranger to artificial intelligence (AI)-based technology, and the company is…
MoneyMe (ASX:MME) - CEO & Managing Director, Clayton Howes

" MoneyMe (ASX:MME): Embracing new tech for scalable lending solutions

MoneyMe (ASX:MME) is embracing new technology, such as AI, to generate better outcomes for itself and…
The Market Herald Video

" Black Mountain Energy (ASX:BME) teams up with Highwire to explore ESG-positive commercial options for well-testing gas

In a strong commitment to reduce greenhouse gas emissions and maximise return for shareholders, Black Mountain…
The Market Herald Video

" Cavalier Resources (ASX:CVR) hits the ground running with successful $5m IPO

WA-based gold and nickel explorer Cavalier Resources (ASX:CVR) has officially joined the ranks of the ASX…