Security Matters Limited (ASX: SMX) which is into the software and services industries has entered into the $11.8 trillion global agricultural markets by entering into a ‘proof of concept’ project with Hazera Seeds which is an Israeli-Dutch seed maker company. The technology that is being used by the SMX enables any form of matter either solid, liquid or gas to marked invisibly or which cannot be reversed using a chemical-based barcode. This barcode could be read by the use of a proprietary reader.
The investors of the company were informed today that the recent project of the company would inject environmental markers onto Hazera’s seeds.
The company would be able to identify and track those Hazera seeds which are marked following the process of sales and distribution. This will also enable them to track that no seeds are being damaged, and they are able to sprout.
SMX has filed a patent for its recently won project so that SMX might use its technology to identify any plastic content in the crop.
Haggai Alon who is the CEO and also the founder of Security Matters, states that this project is already aligned with the strategies of the company. By entering into the partnership with the market leaders to encourage them to use its technology.
Hazera is a leading global company which is into the agriculture industry and it deals in the manufacturing of seeds. It is strongly supported by the European market.
This project of the company is an example of Israeli technology which is being supported by European brands. The company aims to implement the findings across all geographical regions in order to support the safety of the food as well as the quality sector.
Before entering into the partnership, the company performed a lab test which gave a positive signal to combine its technology sustainable and eco-friendly way which will help in the process of seeding when inserted into the soil.
Hazera is one of the units under the Limagrain Group which is the world’s largest seed companies. This group takes care of seeds so that it can breed, develop and again produce a diverse range of seeds of the vegetable crops across the globe and provide service to more than 100 markets.
The company is optimistic about the project and it believes that if their efforts are successful then this project will lead to necessary commercial agreement and will generate recurring revenues in the future.
By the end the day, the share price of the company has gone up 12.174%. The innovative thought of the company being an information technology company entering into the agriculture industry has created a positive impact on the share price this morning. The market price of the share was A$0.387 (AEST: 4 pm, 21 November 2018) with the market capitalization of A$33.64 million.
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