ASX-listed junior tech company Security Matters (ASX:SMX) has kicked off a series of feasibility studies with the largest chemical producer in the world — BASF SE.
It told the market today that it had started feasibility studies with the chemicals giant on how SMX’s ‘track and trace’ technology could be used in different ways — as part of a broad collaboration agreement with the company.
While SMX has tied up a number of trials with companies from six key areas (chemicals, materials, industrial solutions, surface technologies, nutrition and agriculture) — BASF SE is the biggest company SMX has been confirmed to be working with to date.
“Commencing these projects with BASF’s is evidence of our ability to execute our growth strategy and demonstrates how leading global companies are considering SMX as the answer to questions surrounding industry integrity and brand authentication,” SMX CEO Haggai Alon said.
While BASF is the largest company SMX has been confirmed to be working with to date, it’s not the only company it’s working with.
Wide application of SMX’s tech
Although SMX is still yet to commercialise its technology, its application in several verticals has given investors a glimpse of what SMX could become.
For example, last month it revealed that it had become the only company in the world proven to be able to provide a ‘track and trace’ solution for the electronics manufacturing industry.
But it’s also been active in targeting various other verticals.
For example, it’s targeted the burgeoning medical cannabis market with a trial with UK-based Clinicann to create a global standard for medical cannabis verification.
It has also dipped its toe in the agriculture industry through a trial with seeds giant Hazera.
It has also tied up trials with identity solutions provider Veridos as it attempts to prove up its tech solution in several industries where verification of the authenticity of physical items is crucial.
This content is produced by Star Investing in commercial partnership with Security Matters. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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