Plastic additive manufacturer BASF and digital technology solutions provider Security Matters have partnered to speed-up the process of plastics circular economy.
Under this binding joint development agreement, the partners will develop solutions to trace plastics from production to distribution and circularity.
Security Matters will offer its track and trace solution, which is capable of marking physical objects with an unalterable chemical-based barcode, while also linking them to a digital twin.
The barcode, which endures manufacturing and recycling processes, gathers information that could prove useful in plastic loop closure.
Security Matters founder and CEO Haggai Alon said: “This collaboration is the first step in demonstrating how our technology can be used in a circular application.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“By providing transparency of product lifecycles, we can create an entire technology-driven ecosystem that promotes circularity and sustainability for plastics.”
BASF will contribute its experience in plastic additives, regulatory know-how, and understanding of the plastics value chain.
In addition to this, the two sides will combine their research and development capabilities and required resources.
BASF SE Europe Performance Chemicals senior vice-president Achim Sties said: “It is essential to progress towards a circular economy approach that closes the loop on end-of-life resources and allows us to recover and recycle plastics as efficiently as possible.
“We are jointly developing this game-changing technology that could capture information of the polymer and how the plastic moves through the entire production and distribution process. We will be able to devise an appropriate additive package for our customers and other players in the value chain using recycled material to capture more material value and increase resource productivity.”
