SABIC (Riyadh, Saudi Arabia) has launched a pilot project with technology company Finboot, advanced recycling pioneer Plastic Energy, and packaging specialist Intraplás to investigate the possibilities of blockchain technology in supporting end-to-end digital traceability of circular feedstock in customer products.
Tracing the journey of feedstock through the complex petrochemical value chain is currently a difficult undertaking. To improve this process and support the delivery of its circular feedstock to customers – part of SABIC’s TRUCIRCLE portfolio and services – SABIC has launched this pilot project to demonstrate the feasibility of using a blockchain-based, value-chain IT application. SABIC’s is the first project of its kind in the industry to trace the product from feedstock production to converter, going further than previous industry applications of blockchain in end-to-end tracing. The platform offers reduced costs and time and improved data integration for all value chain partners.
Another key benefit of blockchain technology in that the delivery of more sustainable solutions lies in its ability to validate sustainability proof points and organizations’ ESG credentials. This is of significant benefit to all members of the value chain, including external parties, as it reduces the administrative efforts associated with the certification process of materials. It is also a more reliable process, due to the reduced risk of human error.
Blockchain technology is also being used by Teijin Group (Tokyo) and Fujitsu Ltd. (Tokyo), who launched a joint project to realize a blockchain-based commercial platform for enhancing the environmental value of recycled materials for manufacturers. The collaboration will promote environmentally conscious design (1) by leveraging Teijin’s Life Cycle Assessment (LCA) Calculation Method for measuring the environmental impact of manufacturing processes across the value chain, as well as Fujitsu’s blockchain technology to collect and track primary data on environmental impact (including GHG emissions) to deliver reliable, transparent traceability.
The new platform will promote the use of recycled materials and environmentally friendly designs by providing manufacturers who design products from recycled materials with accurate information about their environmental footprint, including proof of origin of recycled materials and data on GHG emissions.
As a first step in their collaboration, Teijin and Fujitsu will start full-scale trials with the aim of realizing business in the fiber-reinforced plastic (FRP) field within fiscal 2022. Based on the results of these trials, the two companies will consider expanding the scope of the project for other types of materials.