SMX announced the addition of latex and rubber gloves to its industrial rubber traceability platform, marking the sixth deployment within its circular‑rubber program. The move extends the company’s molecular‑marking technology into one of the world’s largest and most complex post‑use rubber waste streams.
The global latex and rubber glove market was valued at approximately $13.8 billion in 2024 and is projected to exceed $21.6 billion by 2030. With more than 330 billion units consumed annually—primarily in healthcare—this sector faces significant contamination and identification challenges that hamper recycling. SMX’s technology offers a durable, tamper‑proof “memory” that survives industrial processing, enabling verifiable recovery, traceability, and circular reuse of glove products.
SMX embeds invisible molecular markers into glove materials, creating a permanent identity that can be read at any point in the supply chain. The markers survive recycling and other processing steps, giving SMX a competitive edge over RFID and optical solutions that are more vulnerable to damage or tampering. This capability is especially valuable in high‑value, fraud‑prone markets such as personal protective equipment, where authenticity and provenance are critical.
The expansion is supported by recent partnerships with Singapore’s ASTAR and the trueGold Consortium. SMX’s stake in the consortium rose to 51.9% after acquiring an additional 7.5 % in October 2023, and the ASTAR collaboration positions the company within a national plastics circularity platform. These alliances validate the technology and provide access to large, regulated supply chains.
SMX’s financial profile highlights the challenges of scaling this technology. The company reported a negative EBITDA of $30.95 million for the last twelve months and a current ratio of 0.08, underscoring liquidity constraints. A reverse stock split of 8:1 took effect on November 18 2025. Despite these pressures, SMX is pursuing new revenue streams through data services and platform fees, positioning itself as the infrastructure layer for the verification economy.
The launch into latex and rubber gloves represents a strategic push into a high‑value, high‑growth segment, but the company’s limited cash cushion and ongoing investment needs may temper the speed of commercialization. Management views the expansion as a key step toward broader adoption of its molecular‑marking platform across diverse industries, while acknowledging the need to balance growth with financial prudence.
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