SMX (Security Matters) PLC (NASDAQ: SMX; SMXWW) keeps getting bigger. And if you have yet to hear of them, chances are that you soon will—in a big way. This company is pioneering digitization for physical objects to ensure that those who say they contribute to the circular economy practice what they preach. SMX provides them a tool to do just that, offering next-gen technology that invisibly marks gold, silver, metals, plastics, rubber, oils, and virtually anything tangible that goes through the manufacturing process.
That’s led to SMX scoring collaborative deals with large companies. That’s no surprise since no other known company can do what they do. The latest to join the collaborative list is Miami-based Tradepro Inc., a company that has been a trusted partner in the plastics recycling industry for over three decades. For SMX, Tradepro brings vast experience and new opportunities, particularly by giving SMX a foot into a significant plastics company door. Tradepro is no small player; they expect to procure and distribute over 85,000 metric tonnes of recycled plastic materials this year.
Leveraging Combined Strengths
According to SMX’s press release, SMX and Tradepro Inc. will work to complete semi industrial testing for the marking of PCR, or post-consumer recycled, materials to help U.S. organizations transition from linear to a circular reporting operation for plastics by using enhanced digitalization technology for tracking, tracing, and reporting across the plastic supply chain within the U.S., backed by the SMX platform and physical markers.
The collaboration could ultimately help create and usher in a new industry standard to move from existing reporting, which is human, paper, and self-reporting, to delivering a standard that is based on digitalization and a physical marker that will enhance the material efficiency where real value, data, and accountability can be delivered across the plastics sector while removing operational waste for companies. If so, that result could become the most trusted, auditable, and transparent solution for recycled content across all plastic materials in a sustainable and compliant manner, an endpoint supporting the Sustainable Management of Plastics as strategized by the United States Environmental Protection Agency. SMX and Tradepro Inc. expect to start joint commercial sales in Q1 2025.
Perhaps the more important takeaway is that companies like SMX and Tradepro are helping to change the recycling and material tracking narrative and are willing to prove their involvement by investing time and capital toward that intention. In no uncertain terms, SMX technology represents a giant step in shoring up a plastics recycling industry that has been running rampant.
Reports Expose Behind The Scenes
A report published by CBS News titled “The Fraud of Plastic Recycling” tells of how the plastics industry may be misleading the public about the viability of plastic recycling despite knowing its limitations. According to the report, the vast majority of plastics are not recycled, despite the presence of the recyclable label. The Department of Energy is on record saying that only 5% to 6% of the 48 million tons of plastic waste generated annually in the U.S. is recycled; the rest ends up in landfills or is incinerated.
Keep in mind that the recycling movement isn’t a new initiative. The industry began promoting recycling in the 1980s as a solution when municipalities considered banning plastic products. At that time, the plastic industry’s goal, according to some in the report, was to create a belief in recycling rather than making it work. CBS News pointed toward internal documents from the American Plastics Council that revealed a widespread acknowledgment that plastics recycling was ineffective.
That could be a massive problem in the future. Plastic production is projected to triple by 2050 despite more than 170 countries working on a U.N. treaty to end plastic pollution. As one might expect, the plastics industry opposes bans on plastic production but supports more recycling. The problem, however, that many see is that the only thing getting recycled may be the misrepresentations of benefits.
According to an article published by The Guardian, plastic producers have known for over 30 years that recycling is not a viable solution for plastic waste management, citing a report by the Center for Climate Integrity (CCI). Despite this, they have continued to promote recycling, leading to growing calls for contributing companies to be legally and financially accountable for the damage they’ve caused.
Answering The Call
Few argue against the fact that plastic recycling is challenging due to the need for meticulous sorting and material degradation each time it is reused. It is, and has led to reports, including in the Guardians, pointing toward industry insiders long referring to plastic recycling as “uneconomical” and not a permanent solution. Despite this, plastic producers have promoted recycling to avoid bans on plastic products.
The industry has also promoted chemical recycling, which is more energy-intensive and polluting than traditional recycling. The report in The Guardian quotes industry experts believing that the industry’s actions may, or already have, violated public nuisance, racketeering, and consumer fraud protections. They do not specifically, however, allege a particular company is guilty of doing so. Still, whats being disclosed has led to public and legal scrutiny, including recent lawsuits and investigations targeting the industry’s characterized as misleading practices.
Alas, it’s not all doom and gloom. Companies like SMX are working hard to provide accountability, transparency, and the tools to usher in a more global circular economy. It’s also true that some great minds in the plastic industry are 100% committed to reducing plastic waste and fueling the recycling mission. The most excellent news is that those voices are getting louder, perhaps even drowning out the ones that promised change and failed to deliver
So, despite some appearances, there is a bright side to what’s happening in the sector—specifically, a renewed commitment, supported by SMX-provided technology for verifiable accountability, to do the right things with available technology at the right time. In that reinvigorated setting, whether through inspiring change personally, at a company, or by investing in low-priced stocks like SMX to fuel their mission…everyone can win.
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To view the original version on ABNewswire visit: SMX Keeps Getting Bigger; Scores Collaboration with Miami-Based Tradepro Inc. to Evaluate Enhanced Digitalized Tracking Across the Plastic Supply Chain ($SMX)
