Teijin Limited announced that it will invest in Circularise B.V., a company based in The Hague, Netherlands, which develops product traceability management systems using blockchain technology. Teijin will also implement Circularise’s software to improve visibility into its global supply chain. Circularise’s proprietary “Smart Questioning”(*) solution, which utilizes Zero-Knowledge Proof (ZKP) technology, provides both anonymity and transparency to ensure a highly reliable product traceability system.
Teijin will leverage Circularise’s digital traceability platform to enhance the transparency and reliability of its supply chain. This platform will enable the company to procure raw materials with lower environmental impact that contribute to the development of new, sustainable products and services. Teijin aims to promote efficient and effective resource utilization across its entire supply chain. This initiative will help the company reach its goal of carbon neutrality by 2050.
Circularise’s digital traceability platform allows organizations to track the history, location, composition and application of a product or material throughout the supply chain to the point of origin. It will empower Teijin with trustworthy, verified information from suppliers about the carbon emissions associated with their products to support regulatory compliance and auditing.
Teijin committed to prioritizing the health of the planet, protecting the environment, and supporting a circular society — has been actively seeking partners with digital traceability platforms to lead the industry in the realization of a circular economy. Circularise, on the other hand, has been looking for partners to promote the adoption of its digital traceability platform, which enhances transparency and reliability in global supply chains.
“We believe that, together with Teijin, we can set a benchmark for industry-leading examples of the circular economy, delivering scalable and rapid solutions to the market,” said Jordi de Vos, co-founder of Circularise. “We are honored to welcome Teijin Group as a strategic investor. This collaboration reflects our shared vision for a transparent, traceable, and sustainable supply chain. We look forward to this collaboration to further propel our mission and strengthen our market presence.”
“As a leading company in high performance materials, we at Teijin are actively increasing our efforts to become more circular,” said Ton de Weijer, general manager of the Environment Solution Division at Teijin “The investment in Circularise will enable us to cooperate with a leader in the field of traceability and to create an environment that will support us in setting the right steps forward.”
As the world works toward achieving carbon neutrality by 2050, there is an increasing global demand for initiatives that support the circular economy—maximizing added value while efficiently utilizing resources throughout the supply chain. In Europe, the introduction of mandatory Digital Product Passports (DPPs) aims to enable comprehensive tracking of the production, usage, and disposal of products. The adoption of digital traceability platforms, which facilitate product and material traceability, will be a critical component in realizing the vision of a circular economy.
(*) Smart Questioning is Circularise’s proprietary technology designed to allow a verifier (e.g. brand owner) to ask a series of carefully curated questions from a prover (e.g. supplier) in order to obtain relevant information about a product without disclosing any sensitive data.
