BASF will promote the development of plastic circular economy

Security Matters and BASF have recently signed a binding agreement to jointly develop plastic traceability and recycling solutions. Plastics have many unique characteristics. If used properly, they will help create an energy-efficient and sustainable future. However, in order to achieve a circular economy, it is necessary to increase the proportion of plastic recycling and reuse. Although chemical recycling has made great progress, it is more common to recycle waste plastics by mechanical methods. At present, the mechanical properties and quality of recycled plastics are lower than those of virgin plastics due to factors such as polymer degradation and impurity residues. In addition, due to the expensive and complicated infrastructure for recycling, it has not been introduced in many areas.



Security Matters and BASF work together and hope to provide solutions to this problem. In this collaboration, Security Matters will use its patented technology to enable online and offline tracking of closed-loop recycling, verify sustainability claims and optimize the classification of plastic waste. At the same time, this cooperation will also utilize and leverage BASF's extensive experience and expertise in plastic additives, regulatory regulations, and other fields, as well as a deep understanding of the plastic value chain. As part of the agreement, the two companies will also integrate their strengths and advantages in research and development and resources to achieve a win-win cooperation.



Security Matters' tracking and tracing solution will use a unique, non-tamperable chemical barcode to mark physical items and connect them to digital twins. The barcode will not be damaged even during production and recycling, and it will not change the appearance or performance of the item. In addition, through the use of proprietary technology, bar codes can also collect various information embedded in plastics, helping to achieve a closed loop of plastics.



Achim Sties, Senior Vice President of BASF Europe ’s Characteristic Chemicals Business Division, said: “In order to meet global challenges, we must reflect on the application of plastics from the perspective of plastic waste. A circular economy is imperative; Closed loop, on the other hand, also helps us recycle plastics as efficiently as possible. We are jointly developing an innovative technology that can collect polymer information and track the entire plastic production and sales process. In addition, we will also Develop suitable additive combinations for customers and other stakeholders in the value chain that use recycled materials to better leverage the value of materials and increase resource productivity. "



Haggai Alon, founder and CEO of Security Matters, said: "We are very honored to cooperate with BASF, a global leader in the plastics additives industry. This will be the first step in how Security Matters demonstrate how to use patented technology for recycling applications. With the transparency of the product life cycle, we are expected to establish an ecosystem driven by technology to promote the recycling and sustainable development of plastics. We will go hand in hand to promote the development of the plastics industry and make it more innovative, resilient and productive. "