Of the whopping 8.3 billion tonnes of plastic manufactured in the last six decades, 90.5% has not been recycled. And such plastics are likely to outweigh fish in our oceans by 2050 unless corrective action is taken.
Circularise Plastics is a platform designed to promote recycling, traceability, and transparency in plastic usage. Circularise PLASTICS has used Blockchain technology to develop a platform, which allows material producers, molders and OEMs to create a digital version of all sorts of inputs by attaching trusted documents and enables brands to communicate the origin and impact of their products.
It allows them to provide concrete evidence to everyone about the kind of plastic materials being used in their processes thereby building trust among all the stakeholders. Developed by leading companies like DOMO Chemicals & Covestro, Circularise PLASTICS has successfully finished piloting. The platform will be commercially launched in Q1 2020.
Circularise, Covestro and Domo Showcase Plastics Traceability Solution
At CES 2020, the transparency achieved through blockchain technology Circularise PLASTICS initiative is entering the next stage. The collaborative project for circularity in plastics founded by polyamide supplier DOMO, materials manufacturer Covestro and Circularise, a supply chain transparency start-up, has reached the first milestone.
With the support from the founding members Circularise successfully developed the first version of the platform tailored to the plastics industry. The group is piloting the system this year and demonstrating it on the market in a production environment in early 2020. At CES 2020 (Las Vegas, January 7-10), Circularise (Holland Tech Square, Eureka Park, booth 51726) and Covestro (Smart Cities, Tech East, booth 313) will present the project to customers and open the consortium for new partners to join on the pathway towards transparency and circularity in plastics.
Currently, the solution enables manufacturers to create a digital version of their materials based on trusted (audit) documents. This enables them to prove the sustainability of their supply chain and avoid greenwashing.
“We are now seeing more companies ranging from material producers to OEMs and brands show interest in creating an open standard for the industry. More players see the value of implementing new technologies to become more transparent, they also realise that it can’t be done alone,” says Mesbah Sabur, Circularise founder.
The start-up has already followed up on their success by presenting the standard to BASF and Stanley Black & Decker in the context of their Circularity Challenge. Circularise ended up being the only software company out of nearly 100 competitors to become a finalist in the challenge.
“The value of having this standard developed by the industry, instead of just one or two companies is in avoiding a central powerful authority and giving equal 02/03 circularise.com Press Release rights to all participants,” says Thomas Nuyts, Director of Global Product Management at DOMO.
Encouraging broad marketplace adoption, the Circularise PLASTICS is available to any organization that manufactures, processes, recycles or uses plastics. Depending on the position of parties in the value chain, there are different benefits that they can expect.
“For material suppliers and processors, as well as molders, Circularise PLASTICS´ participation means increased material value and trust in your production, by adding material passports to plastic resin, additives, colorants and any other materials produced. For OEMs and brand owners, it helps on the road to achieving sustainability targets and a strengthened brand position, by revealing a product’s origin and transparency on its environmental impact,” says Dr. Burkhard Zimmermann, Head of Strategy, Sustainability and Digital, Covestro Polycarbonates.
Industrial companies Covestro and DOMO Chemicals were key architects of the pilot’s final requirements, and will work to adopt the standard. Following completion of a pilot period with these companies, the system is available to the broader market. The objective is to create a strong consortium of companies to set an industry standard for transparency regarding e.g. recycled content and other sustainable practices. The new Blockchain Traceability Solution will be demonstrated at Covestro’s booth (313) in the Smart City exhibition and at Circularise’s booth (51726) at the Eureka Part.
DOMO Chemicals is a leading producer of high-quality engineering materials for a diverse range of markets, including the automotive, food, medical, pharmaceutical, chemicals and electronics industries. The company offers a complete portfolio of integrated nylon 6 products, including intermediates, resins, engineering plastics and packaging film and distribution of petrochemical products. Headquartered in Germany, the family-owned company leverages advanced technology and consumer insights to deliver sustainable & innovative solutions. DOMO generated 2018 sales over EUR 900 million and employs approximately 1,100 employees worldwide. www.domochemicals.com
Circularise is a blockchain technology start-up offering an open-source protocol and decentralised platform to bring transparency to global supply chains and empower businesses to move towards a circular economy. Circularise enables Press Release brands, suppliers, and manufacturers to choose sustainable and circular materials and present information about products and their supply chains in a transparent way without risking privacy. www.circularise.com
With 2018 sales of EUR 14.6 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of hightech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 16,800 people (calculated as full-time equivalents) at the end of 2018.
- World Environment Day 2020: 10 Steps to Save the Earth - June 5, 2020
- 40-60% Relative Humidity Can Control Covid19: Expert - April 7, 2020
- Blockchain-Enabled Startup Gives Plastic Recycling A Boost - January 28, 2020
- Use Banana Stems for Organic Farming: Innovations in Agriculture - June 3, 2019
- Why Has Renewable Energy Generation Price Nosedived? - May 11, 2019
- Lightning Strike Electric Sports Bike Formally Showcased - April 2, 2019
- 4 Steps For Water Conservation You Can Take This World Water Day - March 30, 2019
- World Water Day Theme: Include Women, Refugees, Children, Minorities - March 28, 2019
- International Day of Forests 2019: Lets Learn to Love Forests - March 23, 2019
- Avan Motors Soon Launching New Series Of Digital Electric Scooters - March 18, 2019