SMX targets, in part, the enormous opportunities created by the surging investments being made to implement, fortify, and sustain homeland security
New York, New York--(Newsfile Corp. - March 13, 2024) - SMX (Security Matters) PLC (NASDAQ: SMX) (NASDAQ: SMXWW), an innovative company specializing in the digitization of physical objects to foster a circular and closed-loop economy to continuously enhance its core capabilities, is pioneering technology focused on developing and implementing innovative solutions to improve supply chain transparency, traceability, and sustainability.
SMX's advanced technologies enable businesses to securely track and manage the lifecycle of their products, ensuring authenticity and compliance with environmental and ethical standards. Achievements in 2023 and thus far in 2024 have helped expedite SMX's mission to become a vital player in supply chain management and material verification processes.
Those include:
On February 28, 2024, Security Matters (SMX) announced the appointment of Ofira Bar as the new Chief Financial Officer. This strategic move will strengthen the company's financial management and support growth initiatives.
On February 21, 2024, SMX launched a project demonstrating its technology to enhance recycling processes and promote circular economy practices. This initiative underlines the company's commitment to environmental sustainability.
In February, SMX successfully closed a $2.9 million public offering. These financial developments reflect investor confidence and provide the company with additional resources to pursue strategic goals.
In January 2024, SMX showcased its commitment to sustainable fashion at Première Vision Paris. The event highlighted SMX's role in promoting eco-friendly practices in the fashion industry.
On January 12, 2024, SMX secured a significant $5 million contract with R&I to enhance NATO supply chain transparency. This achievement underscores the company's expertise and trusted solutions in securing complex supply chains.
These achievements and milestones enabled SMX to penetrate new verticals faster than expected. With exclusive and patented technology and at the pace of adoption across key client markets, the company expects 2024 to be a transformation period of growth as more companies enhance their focus on global sustainability matters and producing via eco-friendly solutions.
SMX CEO Haggai Alon commented on recent expansion into the fashion and defense markets, saying, "Last year was a pivotal year of company positioning. And the momentum into 2024 has enabled us to capitalize on the work done. Client interest in sustainable fashion and specialized defense sectors are significant, and is on pace to deliver revenues that could surpass the record-setting volume previously posted." He added, "Those markets are two of many. As noted in prior updates, our invisible marking technology can provide traceability, authentication, and verification of materials for rubber, metal, oil, precious metals, liquids, and others, uniquely providing a means of proving adherence and commitment to global sustainability initiatives and programs. Perhaps most importantly, it can facilitate the enormous investments made by countries worldwide into homeland security to become measurable within weeks and months, not years."
Leveraging that technological strength, SMX is increasing its focus to maximize existing revenue-generating opportunities related to homeland security, including work to expand its market reach in 2024 to assure that the production and movement of goods combine robust, irrefutable physical protection, supported by blockchain inclusions, that will protect supply chains and verify material movements of goods in times of market normalcy and, more importantly, in times of conflict.
Reports by Straits Research indicate that investments made to enhance homeland security are experiencing substantial growth. This growth can be attributed to fast-evolving factors and trends that create an imperative need to address contemporary global security challenges using technological innovations like SMX's.
According to a report from Straits Research:
Government Initiatives and Spending: Governments worldwide have been increasing their budgets and initiatives for homeland security in response to rising global security threats. For instance, the budget allocation by the United States for homeland security purposes will likely eclipse the $49.8 billion spent in 2021 as the country highlights its commitment to countering various threats. This trend shows a broader movement towards bolstering national security infrastructures globally.
Increased Threats and Security Challenges: The global increase in terrorist attacks, border conflicts, illegal immigration, smuggling, human trafficking, and natural disasters has spurred the demand for homeland security solutions. These challenges have necessitated a more robust and comprehensive approach to national security, leading to more significant market growth.
Technological Advancements and Innovation: The market has seen significant investments in innovative products and services to enhance security measures. Technological advancements in cybersecurity, surveillance, and detection technologies have driven the market's growth. Companies and governments increasingly focus on developing and deploying state-of-the-art security solutions to protect against various threats.
Rising Demand for Information Security: Information security has become a critical component of homeland security with the growing reliance on digital infrastructure and data. The need to protect sensitive information from unauthorized access and cyber threats has led to increased investment in cybersecurity measures, contributing to the market's growth.
Regional Market Dynamics: North America's dominance in the homeland security market is attributed to military modernization programs, national security investment, and major defense manufacturers' presence. Meanwhile, the Asia-Pacific region's significant growth is driven by the need for better naval security, government safety initiatives, and the adoption of new technologies: increased government investment and efforts to safeguard internal security support Europe's market growth.
SMX technology can assist all of these objectives and initiatives, opening doors to business opportunities in other segments of the homeland security market, including Border Security, Maritime Security, Aviation Security, Critical Infrastructure Security, Cyber Security, Mass Transportation Security, Law Enforcement, and CBRN Security. SMX has previously announced deals and/or partnerships with Continental Rubber, the Perth Mint, the North American Flame Retardant Alliance (NAFRA), LVMH Métiers d'Art, and the Israeli Cotton Board. The groundwork completed provides SMX a pathway to substantial revenue growth, expected to exceed the $5 million contract with R&I Trading of New York announced last month. Additionally, TrueGold Consortium, a wholly-owned asset, is expected to contribute more value than any time in its history in 2024, as deals made and those planned begin to spin off value earned.
Furthermore, targeting many substantial markets, it's essential to know that SMX is unique in what it provides to ensure supply chain and manufacturing integrity. SMX knows of no similar technology that is as proven and durable and can invisibly validate product life cycles from raw material to finished goods to recycling. Use applications include marking metals, oils, fabrics, rubber, and plastics. Notably, this marking can't be destroyed, instead becoming a permanent part of that product's DNA. In other words, companies throughout the supply chain buying, selling, or mining products are provided the most efficient and reliable means of identifying where products started, where they went, and how they will be reused in their new life cycle. Widespread adoption of SMX technology could provide a meaningful and critically needed addition to the global arsenal to protect homelands.
About SMX SMX integrates chemistry, physics, and computer science to give materials memory and create a culture of transparency and trust across multiple industries. The company's nearly 100 patents support unique marking, measuring, and tracking technologies allowing clients to seamlessly deploy transparency at all levels of development and provide all stakeholders with a complete provenance of material composition and history, from virgin material to recycled, to address manufacturing challenges and ESG goals while maintaining sustainable growth. As a result, SMX's technologies help companies address ESG commitments and transition more successfully to a low-carbon economy.
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: the successful launch and implementation of SMX's joint projects with manufacturers and other supply chain participants of metals, 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; 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.
