And today the company flagged its latest collaboration agreement, as it strengthens ties with Continental, the US$19bn German automotive group.
ASX tech platform Security Matters (ASX:SMX) — a company focused on digitising physical objects on the blockchain to enable a circular and closed loop economy – has been successfully developing a number of research partnerships with Tier One multinational industrial conglomerates.
Under the terms of the agreement, Continental will run additional tests on the use of SMX’s patented tracking and marking technology for its global tyre supply chain.
“We are testing this marker technology to ensure in the future that the natural rubber we use in our tyres has been verifiably grown and sourced in a fully sustainable manner,” said Claus Petschick, head of sustainability in Continental’s tyres division.
The deal is in line with Continental’s broader strategy to become a global leader in the automotive parts sector over the next 10 years as it prioritises carbon neutrality across its entire value chain.
The collaboration agreement follows a successful extensive period of testing between the two companies.
Successful Extensive Tests
Today’s collaboration announcement follows an extensive period of testing carried out by both companies, which yielded successful results.
SMX’s unique marker substances were used on different types of rubber in the supply chain, including natural rubber latex and through to the vulcanised rubber of the tyre. It has been proven that SMX’s technology can be applied throughout the manufacturing process, without changing the appearance or performance of the end product.
With those results now confirmed, the two companies will work on the deployment of SMX’s marker technology in the process of rubber extraction. With the inclusion of marker-reading devices and specialised software, Continental plans to develop its value chain so that nature and origin of all rubber inputs can be precisely assigned at any point, on-demand.
In that context, SMX’s technology will play a key role in the Continental’s ambition to develop tyre manufacturing processes based on the responsible procurement of raw materials and efficient recycling practices. Continental presented its sustainability tyre manufacturing concepts in more detail at this year’s IAA MOBILITY conference in Munich, where it reiterated its focus on developing transparent and traceable procurement of natural rubber.
“Our collaboration shows that physical and digital tracking can be ensured through unique and immutable chemical-based barcodes in rubber products as well,” SMX CEO Haggai Alon said. “Together with Continental, we now want to use our marker technology to further improve the transparency of the natural rubber supply chain.”
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