Digital technology solutions provider Security Matters and plastic additive manufacturer BASF have signed a binding joint development agreement to develop solutions for plastics traceability and circularity.
Security Matters will contribute its technology to enable physical and digital tracking of closed-loop recycling, authenticate sustainability claims and improve the sorting of plastic waste. The partnership leverages BASF’s experience in plastic additives, regulatory know-how, and understanding of the plastics value chain. Both companies will also combine their research and development capabilities and required resources as part of the agreement.
Security Matters will provide its track and trace solution that marks physical objects with a unique and unalterable chemical-based barcode and connects them to a digital twin. As per Security Matters, the barcode withstands manufacturing and recycling processes, without altering the appearance or performance of the object. Using proprietary technology, the barcode captures a wide variety of information embedded in the plastic and can be used for closing the plastic loop.
“To tackle the global challenge, we have to rethink plastic applications with their end of life in mind. 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,” said Achim Sties, senior vice president, Performance Chemicals Europe, BASF.
The jointly developed technology could capture information of the polymer and how the plastic moves through the entire production and distribution process.
“By providing transparency of product lifecycles, we can create an entire technology-driven ecosystem that promotes circularity and sustainability for plastics. Together we can accelerate the progress of the plastics industry towards a more innovative, resilient and productive economy,” said Haggai Alon, chief executive officer, Security Matters.