Japanese fiber manufacturer Teijin has made a pre-Series B financial commitment into Circularise, a blockchain-based platform, as it strives to increase transparency and sustainability in its global supply chains.
The investment will also support Circularise’s growth in the high-performance materials sector and other industrial segments.
Teijin is a global organization driven by technological innovation and focused on two core sectors: high-performance materials and healthcare solutions.
The manufacturer has identified “climate change mitigation and adaptation” and “achieving a circular economy” as its key material challenges and has actively worked to implement green energy solutions, reduce energy consumption and improving its recycling technologies.
As part of this partnership, Teijin is set to integrate Circularise’s software to improve monitoring of its extensive supply chain operations. The software uses Circularise’s “Smart Questioning” method, which uses Zero-Knowledge Proof technology to balance privacy and transparency, establishing a reliable product tracing system.
The adoption of this platform will facilitate the sourcing of raw materials with a reduced environmental footprint, thus contributing to the creation of sustainable offers. Teijin is committed to optimizing resource usage throughout its supply chain management as part of its strategy to achieve carbon neutrality by 2050.
Teijin is committed to reducing its consolidated energy consumption while increasing its reliance on renewable energy sources and recycling processes.
Industries involved in materials and manufacturing are currently going through a critical phase of adaptation due to new EU regulations such as the Ecodesign for Sustainable Products Regulation (ESPR), the Sustainability Reporting Directive (CSRD) and Extended Producer Responsibility (EPR) updates. directive. These regulations highlight the need to improve traceability and sustainability measures within supply chains.
Circularise’s platform is designed to provide organizations with the ability to track the journey of a product or material, including its history, location, composition and initial source within the supply chain.
Teijin will have access to suppliers’ authenticated data regarding the carbon emissions of their products, which will help comply with environmental regulations and meet audit requirements.
Ton de Weijer, General Manager of Teijin’s Environmental Solutions Division, said: “As a leading company in the field of high-performance materials, at Teijin we are actively stepping up our efforts to become more circular. The investment in Circularise will allow us to cooperate with a leader in the field of traceability and create an environment that will help us take the right actions.
