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 create reliability and trust. “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 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 resins, 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.
At CES 2020 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.
The membership offers the opportunity to be in a leading position and drive the change in the plastics industry. https://www.circularise.com/plastics
About DOMO Chemicals:
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 Belgium, 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 1100 employees worldwide.
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 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.
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 high
tech 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.