Circulor, a blockchain traceability service, has teamed up with TotalEnergies and Recycling Technologies, a plastic chemical recycler, to find a strategy for tracking Hard To Recycle Plastics. TrackCycle is the name of the initiative, which is funded by Innovate UK, the UK government’s innovation agency.
Plastic recycling procedures must be improved immediately. Despite environmental efforts and easy-to-access instructional tools on sustainability, fewer than 9% of municipal solid waste plastics were recycled in 2018, according to the American Environmental Protection Agency.
The EU has established a goal of recycling 50% of plastic packaging by 2025, citing a lack of well-defined targets. To create a circular economy, new and stricter controls on the supply and life cycle of plastic are being implemented.
The UK government will tax plastic packaging that contains less than 30% recycled plastic next year, while the EU will impose an 80-cent fee on every kilogram of plastic packaging trash that is not recycled. The service provided by TrackCycle should allow businesses to comply with the new rules.
TrackCycle guarantees that the plastics used in manufacturing are made from recycled resources for stakeholders in the polymers sector. Circulor will supply the blockchain capabilities for the solution in this project. TotalEnergies and Recycling Technologies will investigate the use of post-consumer plastic waste in recovered polymer manufacturing. Suppliers of plastic trash will also be involved in the effort.
Companies can trace plastic from the point of origin to the recycled polymers using blockchain technology. Organizations can make educated manufacturing judgments and establish incentive schemes that encourage sustainable consumption behavior using this type of data.
Circulor has worked with Volvo and Mercedes on tracking EV battery emissions and has expertise with traceability systems for minerals used in vehicle battery manufacture.
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