Circularise Receives EU Funding in Support of its Blockchain Solution
The funding will help with the rollout of the Circularise blockchain technology for circularity within the plastics industry.
Circularise, a blockchain solution for tracing materials and sharing data, has raised €1.5 million from the EU Commission’s H2020’s SME Instrument Phase 2, to help fuel the continued growth of the collaborative project for circularity in the plastics industry.
Circularise’s founder Jordi de Vos stated that this funding shows that the EU Commission is ready to invest in emerging technologies that can enable real growth in the circular economy space.
“With this support we will scale projects with our existing partners, attract new people to join us on this exciting journey and accelerate the transition to a circular economy on a global scale.”
The EU funding is seen as a big step forward for Circularise to continue its work on making supply chains more transparent and sustainable, so that plastic waste can be countered. The vision is to become an industry standard: a secure and open system for global supply chains.
Circularise says that since the company launched in 2016, it has proved blockchain to be a “strong enabler” for all the data, documents and information exchanges happening within complex supply chains, while safeguarding sensitive data.
Since the collaboration with Covestro and Domo was announced last year, the first version of the systems has been built and tested. Building on this success, in spring 2020, Circularise was selected into an acceleration program by the Alliance to End Plastic Waste. Now the raised capital will fuel the continued growth of Circularise Plastics.
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