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SMX (Security Matters) PLC (NASDAQ:SMX) and Singapore’s Agency for Science, Technology and Research (A*STAR) announced a partnership Tuesday to build a national plastic traceability system that uses molecular tagging and blockchain technology. The effort aims to increase recycling rates and reduce incineration, advancing the country’s Zero Waste Masterplan.
The program will introduce a digital passport for plastics, enabling brands, manufacturers, recyclers and retailers to track items throughout their lifecycle. The system combines SMX’s chemical marking and blockchain with A*STAR’s spectroscopic detection and profiling research.
The first phase will trace more than 5,000 tonnes of plastic waste in real time. Semi-industrial deployment is scheduled for early 2026, with full-scale operations expected in 2027. The rollout is designed to help companies comply with extended producer responsibility requirements while supplying recyclers with higher-value materials.
Singapore incinerates nearly all of the 957,000 tonnes of plastic it produces each year, recycling only 6%. SMX estimates diverting even one-third of that into verified recycling could save about 27 million Singapore dollars in incineration costs and generate 75 million Singapore dollars in saleable post-consumer resin, creating more than 100 million Singapore dollars in annual value.
Each kilogram of recycled plastic will be tied to a Plastic Cycle Token, a blockchain-backed asset designed to replace traditional carbon credits. The token could allow recyclers to monetize output, provide brands with compliance security and attract investment tied to measurable sustainability outcomes. Verified recycled resin already trades at a premium over virgin polymer in regulated markets.
Haggai Alon, SMX founder and CEO, said the initiative turns “what was once a disposal endpoint into a high-value feedstock stream.” Professor Lim Keng Hui, deputy CEO at A*STAR, said the collaboration shows how research can deliver “impactful, sustainable solutions” and strengthen Singapore’s role as a circular economy hub.
Price Action: At last check Tuesday, SMX shares were trading lower by 11.5% to $1.77.
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