Security Matters Limited (ASX:SMX) is continuing to increase its footprint within the food safety sector by signing an agreement with leading Israeli animal feed supplier, Ambar.
Ambar is the largest producer of livestock foodstuff in Israel and was established in the 1960s originally by farmers from the Sharon region and now employs over 300 workers.
Under the terms of the agreement, Security Matters will incorporate its technology, via a drop-in solution (without changing production methods and protocols), into Ambar’s produce during the production process.
This enables authentication of the feed, counterfeit detection and enables high levels of quality assurance throughout the production process.
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The project is expected to begin shortly and is expected to be completed within three months of commencement.
On completion, if it is deemed successful by both parties, Security Matters expects to sign a definitive agreement with commercial terms for ongoing supply of its technology.
Security Matters co-founder and CEO Haggai Alon said: “We are very pleased to announce this important next step of introducing our technology into the agricultural industry.
“We have been working hard to build exposure and strengthen our relationships within the global agriculture industry and as a result have secured a number of significant projects.”
Haggai Alon
The new agreement strengthens Security Matters’ agriculture portfolio, currently comprised of the project underway with Hazera Seeds and the patent filed relating to microplastic contamination within the industry.
The agreement also supports the company’s agriculture growth strategy of ensuring safe and genuine food to consumers globally by providing quality assurance across the whole production and supply chain - from farm to plate.