Last checked at 21 May 2024 07:00
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.