Supply Chain Traceability and Transparency for Circular Economy

Supply Chain Traceability and Transparency for Circular Economy

Author: ChemistryViews

Neste, Brightlands Venture Partners, 4 Impact VC, and Asahi Kasei are jointly investing EUR 11 million into the startup Circularise. The investment in the startup aims to accelerate the shift towards more sustainable materials in the polymer and chemical industries by providing new digital solutions to improve the traceability and visibility of renewable and recycled material flows along value chains.

With blockchain-based digital product passports, Circularise enables its customers to improve resource use, verify provenance, and conduct carbon footprint, and impact assessments along supply chains. This is important in complex supply chains such as those for polymers, chemicals, plastics, metals, and critical raw materials. The company also offers a solution for mass balance bookkeeping to support the transition from fossil feedstocks to sustainable alternatives in the plastics and chemicals industries.

Circularise’s solution helps suppliers share sensitive data such as material composition, environmental footprint, or Life Cycle Assessment (LCA) data without compromising privacy and confidentiality. This is achieved through technology that allows suppliers to be in control of which data they want to share.

The capital injection agreement has been signed and the closing of the investment is subject to customary closing conditions. The investment is supplemented with grants from the European Commission.


 

 

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