BASF and Security Matters announce collaboration to push circularity in plastics

German chemicals giant, BASF,and Australian security software development company, Security Matters Ltd., have signed a binding joint development agreement to develop solutions for plastics traceability and circularity.

To move towards a circular economy,more plastic waste needs to berecovered and reused. Though there isgreat progress towards chemical recycling,the more common method is tomechanically recycle plastic. Currently,recycled plastic loses its mechanicalperformance properties and qualitycompared to virgin plastic due to polymerdegradation and residual impurities.The recycling infrastructure isalso expensive and complicated, andsimply does not exist in many parts ofthe world.

In their cooperation, Security Mattersand BASF aim to offer a solutionfor this. Security Matters will contributeits technology to enable physicaland digital tracking of closed loop recycling,authenticate sustainability claims and improve sorting of plastic waste.The partnership leverages BASF’s extensiveexperience in plastic additives,regulatory know-how, and understandingof the plastics value chain.

Both companies will also combinetheir research & development capabilitiesand required resources as part ofthe agreement.

Security Matters will provide itstrack and trace solution that marksphysical objects with a unique and unalterablechemical-based barcode andconnects them to a digital twin. Thebarcode withstands manufacturing andrecycling processes, without alteringthe appearance or performance of theobject. Using proprietary technology,the barcode captures a wide variety ofinformation embedded in the plasticand can be used for closing the plasticloop.

To tackle the global challenge, wehave to rethink plastic applications withtheir end of life in mind. It is essentialto progress towards a circular economyapproach that closes the loop on end-ofliferesources and allows us to recoverand recycle plastics as effi ciently aspossible,” said Mr. Achim Sties, SeniorVice President, Performance ChemicalsEurope, BASF. “We are jointly developingthis game-changing technology thatcould capture information of the polymerand how the plastic moves throughthe entire production and distributionprocess. We will be able to devise anappropriate additive package for ourcustomers and other players in the valuechain using recycled material to capturemore material value and increase resourceproductivity,” he added.

“By providing transparency ofproduct lifecycles, we can create anentire technology-driven ecosystemthat promotes circularity and sustainabilityfor plastics. Together we canaccelerate the progress of the plasticindustry towards a more innovative,resilient and productive economy,” saidMr. Haggai Alon, Founder and CEO,Security Matters Ltd.