NEW
YORK, April 15, 2024 /PRNewswire/ -- SMX
(Security Matters) PLC (NASDAQ: SMX) (NASDAQ: SMXWW), a pioneer in
digitizing physical objects for a circular economy, has announced
today the successful completion of proof of concept for ethical
sourcing and authentication of silver in cooperation with SMI.
SMX has now successfully completed the marking of 2.2 tons of
silver within SMI's operations. The program covered the marking of
the silver raw material through continuous manufacturing processes
to final products including recycling loops.
The SMX technology was added at the melting stage and the marked
silver material was processed into blank (from casting, extrusion,
rolling, annealing, blank cutting & recycling), and the quality
of the marked intermediate material and final products was
evaluated (from billet to blank and recycled blank after several
cycles).
The results demonstrated 100% success rates on all marked
products all along the production process (from billet to finished
product) ensuring the durability and irrefutable proof of
quality and Brand authentication of the silver for credible ESG
reporting for stakeholders, customers, auditors, and
regulators.
Success
- To implement the SMX Marking System within SMI's silver process
by embedding the technology within the raw material during the
melting stage at the authorized facility for Brand
authentication.
- To ensure the durability of SMX Marking System after each stage
of the current manufacturing process and provide traceability of
the silver during its production process while maintaining silver
properties & purity.
- To demonstrate the flexibility & durability of the SMX
Marking System by adjusting the amount of SMX Marking System
implemented according to the mass ratio of virgin (unmarked) silver
material and 'marked' leftover (from previous lot) introduced via
melting stage of the continuous manufacturing process, and by
processing the newly marked silver along the production process
until final products, while maintaining the silver properties &
overall purity.
- To detect the SMX Marking Systems within the several batches of
marked silver after each process stage from casting, hot extrusion,
annealing, and blanks cutting and recycling.
- To demonstrate that the SMX Marking System embedded within
silver does not affect the material or the mechanical properties of
the material and final product and complies with all specifications
(grade composition, restriction limits & purity).
Outcomes
SMX successfully implemented its Marking System across several
batches of the silver at the melting stage and was able to
differentiate marked from unmarked silver material, providing Brand
authentication of the silver material.
SMX Marking System was successfully detected throughout the
silver production process from melting, casting, hot & cold
rolling, annealing to blank cutting & recycling, demonstrating
its durability and traceability functionality.
The SMX Marking System provided a non-destructive way of
tracing, identifying, authenticating, and validating the marked
silver. This was confirmed during blind testing where 100% of all
samples were read successfully.
The SMX Marking System was confirmed to deliver the results
while ensuring all the mechanical and material properties remained
intact covering tensile microstructure, hardness, and grain
size.
SMI and SMX are now evaluating potential next steps.
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About SMX
As global businesses face new and complex challenges relating to
carbon neutrality and meeting new governmental and regional
regulations and standards, SMX is able to offer players along
the value chain access to its marking, tracking, measuring and
digital platform technology to transition more successfully to a
low-carbon economy.
About SMI
Sunshine Minting Inc. (SMI) is headquartered
in Henderson, Nevada and is of the
world's largest suppliers of precious metal products for the
minting and bullion industry globally. SMI has been supplying
quality products and services to the Mint industry (Blanks,
Bullion, and Custom Minting) for over 30 years; and has a proven
track record for quality and innovation that has helped to
re-define the standard around the globe. An ISO 9001:2015 Certified
Company (certified by DNV), SMI manufactures and supplies fine
silver and fine gold products, as well as platinum products to
government and private mints and to prominent, well-known financial
institutions and marketing companies worldwide.
SMI operates four manufacturing facilities on two continents;
Henderson, Nevada; Coeur d'Alene,
Idaho; Providence, Rhode Island; and Shanghai, China.
SMI produces products in accordance with the stringent
specifications demanded by our government mint customers. Our
proficient, up-to-date laboratory facility ensures that all
products fulfill the specified requirements of our customers.
Our customers are worldwide in North
America, South America,
Asia, and Europe.
Its gold and silver bullion products are sold by most of the
major bullion dealers, financial institutions, and distributors
around the world. It has an established reputation for quality,
consistency, and capacity as well as for embracing innovative
concepts and technology in the precious metal industry. SMI's brand
is on most widely recognized private minting brand lists. SMI
silver bars and rounds range in weight from 1 gram to 100 ounces.
Gold bars and rounds range from 1 gram to 1 kilogram and most of
our gold product is packaged in customized Tamper Evident Packaging
(TEP). All of SMI Branded Bullion products contain our innovative
MintMark SITM Anti-Counterfeit technology.
Sunshine Minting Inc. is a brand that symbolizes precious metal
fineness, exceptional quality, and service. It is the leading
manufacturer of products for the minting and bullion industry, and
is committed to meeting customer requirements by providing quality
products with cost-effective processes, innovative technology, and
timely delivery.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: matters
relating to the Company's fight against abusive and possibly
illegal trading tactics against the Company's stock; successful
launch and implementation of SMX's joint projects with
manufacturers and other supply chain participants of silver, gold,
steel, rubber and other materials; changes in SMX's strategy,
future operations, financial position, estimated revenues and
losses, projected costs, prospects and plans; SMX's ability to
develop and launch new products and services, including its planned
Plastic Cycle Token; SMX's ability to successfully and efficiently
integrate future expansion plans and opportunities; SMX's ability
to grow its business in a cost-effective manner; SMX's product
development timeline and estimated research and development costs;
the implementation, market acceptance and success of SMX's business
model; developments and projections relating to SMX's competitors
and industry; and SMX's approach and goals with respect to
technology. These forward-looking statements are based on
information available as of the date of this press release, and
current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties. Accordingly,
forward-looking statements should not be relied upon as
representing views as of any subsequent date, and no obligation is
undertaken to update forward-looking statements to reflect events
or circumstances after the date they were made, whether as a result
of new information, future events or otherwise, except as may be
required under applicable securities laws. As a result of a number
of known and unknown risks and uncertainties, actual results or
performance may be materially different from those expressed or
implied by these forward-looking statements. Some factors that
could cause actual results to differ include: the ability to
maintain the listing of the Company's shares on Nasdaq; changes in
applicable laws or regulations; any lingering effects of the
COVID-19 pandemic on SMX's business; the ability to implement
business plans, forecasts, and other expectations, and identify and
realize additional opportunities; the risk of downturns and the
possibility of rapid change in the highly competitive industry in
which SMX operates; the risk that SMX and its current and future
collaborators are unable to successfully develop and commercialize
SMX's products or services, or experience significant delays in
doing so; the risk that the Company may never achieve or sustain
profitability; the risk that the Company will need to raise
additional capital to execute its business plan, which may not be
available on acceptable terms or at all; the risk that the Company
experiences difficulties in managing its growth and expanding
operations; the risk that third-party suppliers and manufacturers
are not able to fully and timely meet their obligations; the risk
that SMX is unable to secure or protect its intellectual property;
the possibility that SMX may be adversely affected by other
economic, business, and/or competitive factors; and other risks and
uncertainties described in SMX's filings from time to time with the
Securities and Exchange Commission.
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