21 May 2024
Supply@ME Capital
plc
(the
"Company", "Supply@ME" or "SYME" and, together with its
subsidiaries, the "Group")
Platform update: strategic
alliance with p-Chip Corporation
SYME, the fintech business which
provides an innovative fintech platform (the "Platform") for use by manufacturing and
trading companies to access Inventory Monetisation© ("IM") solutions enabling their
businesses to generate cashflow, is pleased to announce progress
towards a strategic alliance with p-Chip Corporation ("p-Chip") by signing a Memorandum of
Understanding (the "Agreement") aimed at establishing a
framework for collaboration between the parties to study the
integration of the respective technologies.
p-Chip is an innovative identity
solutions company based in Chicago, specialising in the development
and application of microtransponder technology for tracking
physical products and materials. p-Chip is collaborating with the
Parmigiano-Reggiano consortium to enhance inventory control and
authentication, ensuring the quality and provenance of this iconic
cheese. Additionally, p-Chip is working in collaboration with Merck
Group to advance a digital platform that enables customers to
create digital twins of individual physical products, proving their
authenticity throughout the product life cycle.
The Agreement envisages, also
through the co-development of ad
hoc intellectual property:
·
the integration of p-Chip's indexing platform
(hardware and software) with SYME processes and systems;
·
the development of several use cases, pilot
programmes and go-to-market strategies.
The combination of p-Chip's
technology with the Platform will further strengthen the role of
Supply@ME, as Platform and inventory service provider within the
Inventory Monetisation transactions by further strengthening the
ability to monitor and inspect, with an improved accuracy and new
anti-fraud enhancements, each inventory item monetised. This
development contributes to the key strategic priorities of the
Group as outlined in SYME's Annual Report and Accounts for the year
ended 31 December 2023 that can be found on the Company's website at
https://www.supplymecapital.com/page-results-and-reports/.
Alessandro Zamboni, CEO of SYME, said: "We are delighted to
partner with p-Chip and its unprecedented technology. It's great to
see their first adoption also in the agri-food industry,
considering the important funding commitment recently announced by
the first Italian banking group to provide support to such supply
chains.
On
the other hand, we aim at also using the p-Chip technology in other
sectors. We consider Internet of Things and robotics as two key
technologies to enable our Inventory Monetisation model to be
accessible to multiple sources of funding, removing the barriers of
mistrust regarding frauds and, more general, operational risks over
the inventory tracking processes".
Joe
Wagner, CEO of p-Chip Corporation,
said: "At p-Chip, we believe in
pushing the boundaries of what's possible with technology. Our
partnership with SYME is a testament to this vision. Together,
we're not just integrating systems; we're revolutionizing the way
inventory is tracked and monetised. By combining our
microtransponder technology with SYME's innovative platform, we're
creating a new paradigm where accuracy, trust, and efficiency
redefine the industry standards. This is just the beginning of a
future where technology seamlessly empowers businesses to unlock
unprecedented value".
Contact information
Alessandro Zamboni, CEO, Supply@ME
Capital plc, investors@supplymecapital.com
About SYME
SYME and its operating subsidiaries
provide its Platform for use by manufacturing and trading companies
to access inventory trade solutions enabling their businesses to
generate cashflow, via a non-credit approach and without incurring
debt. This is achieved by their existing eligible inventory
being added to the Platform and then monetised via purchase by
third party Inventory Funders. The inventory to be monetised
can include warehoused goods waiting to be sold to end-customers or
goods that are part of a typical import/export
transaction.
About p-Chip Corporation
Since 2018, p-Chip Corporation has
revolutionised the tracking of physical products and materials with
its breakthrough microtransponder technology. Highly durable and
small as a grain of salt, its uniquely traceable, light-activated
p-Chip crypto anchor functions like a digital twin for physical
items. This silicon microchip authenticates goods across the supply
chain and enables secure tracking of data through web, cloud, or
blockchain applications. From life sciences and healthcare to
electronics, automotive components, food ingredients, and more,
organizations worldwide look to patented p-Chip microtransponders
to securely track chain-of-custody, unlock business intelligence,
protect brand and product integrity, and enhance revenue. To learn
more, visit www.p-Chip.com.
