SMX Leads The Fashion Industry Toward A More Sustainable And Economic Future With Their Innovative Technology

The fashion industry faces serious challenges as the world moves toward environmental progress. From consumer trust to overproduction and waste, manufacturers and distributors need a solution to achieve their sustainability goals. 

Security Matters SMX, a company that digitally and molecularly marks, tracks, and verifies materials for production, has collaborated with leading brands to solve many of these issues. Utilizing SMX’s technology, manufacturers can create circular value chains, allowing their materials to be accurately authenticated on a singular, sustainable platform. ESG compliance is difficult for many companies, but with the addition of SMX’s non-destructive technology, historical and molecular data for raw materials will be accessible – giving these materials a memory.

“SMX can help fashion brands align with consumer demands for sustainability and ethics while reducing waste and combating greenwashing,” said Zeren Browne, Chief Strategy Officer of SMX. The SMX technology can process qualitative and quantitative data of marked materials and sort each for reuse. Embedding this data within a textile can help track the origin of specific materials solving supply chain issues.

“SMX's technology has been successfully applied from field to finished products, verifying and certifying the origination of the raw material,” said Browne. “This ensures that materials used in fashion products are ethically sourced, and consumers can have confidence in the origin and authenticity of the items they purchase.”

Domaine des Massifs, a leader in leather sourcing, and SMX have partnered together to create a pilot project to track and trace the raw materials used in leather manufacturing. Together, the two companies will utilize SMX’s technology and build a network of raw leather materials for verification at any point in the supply chain – even denoting the provenance of the material.

The system works by embedding a chemical component at the molecular level, which can be read, marked, and tracked through the company’s blockchain platform. Yet the company does not limit its abilities to track only solid materials.

“Our unique strength lies in our ability to embed layers of data into any form of matter, whether it's solids, liquids, or gasses, making our technology incredibly versatile,” said Browne. Carbon materials of various forms are all able to be marked, graded, verified, and authenticated with SMX’s technology. It’s an interoperable process that allows even agricultural manufacturers to provide authenticity for their products.

In a major announcement, SMX revealed the successful marking and verification of granules of different types of yarn filaments. The company successfully tracked rPET (reusable polyethylene terephthalates) raw materials for production. Considered a “new” type of textile, rPET is a reusable plastic applicable to a wide variety of products. 

With this successful use of SMX’s innovative and non-invasive technology, Indorama Ventures, a leading petrochemical company focused on sustainability, is now looking to verify premium rPET grade materials with SMX’s system. Through a web of subsidiaries, Indorama Ventures wants to ensure that yarns and filaments, whether undyed or dyed, can be marked, verified, graded, and tracked throughout the production cycle.

“With our expertise in "giving all materials a memory",” said Brown. “Our non-destructive data extraction reader and our digital blockchain platform, we are well-equipped to provide innovative and comprehensive solutions to fashion spaces seeking transparency, authenticity, and ethical practices.”

SMX has obtained a majority stake in TrueGold Consortium. TrueGold is an entity of the Perth Mint that employs SMX’s blockchain and molecular tracking technology to create a first-in-line, ESG-focused supply chain assurance solution tool. TrueGold will be a verification and tracing mechanism for materials throughout the gold value chain. 

“SMX’s technological capabilities can verify the origin of the precious metals (e.g., gold, silver, & platinum),” said Browne. This technology can detect the “percentage of recycled gold or silver used – ultimately providing ESG certification and authentication of these valuable items.” 

With all of this growth, even amidst the growing conflict in the Middle East, SMX has been invited to be a participant at the United Nation’s COP 28. The convention is a meeting of all members of the United Nations Framework Convention for Climate Change where they discuss the different aims, issues, and ambitions for climate change. 

“We [SMX] are dedicated to fostering a more sustainable and accountable future across various industries, driven by our commitment to innovation and traceability,” said Browne. “Our vision is to continue expanding our reach into industries where traceability, authenticity, and sustainability are paramount.”

Image sourced from Shutterstock

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice.