PepsiCo Labs announced that it would collaborate with six startup companies to improve sustainability within its European supply chains. Security Matters, one of the startups mentioned, utilizes blockchain technology to sort, identify and package waste. PepsiCo plans to use Security Matters’ invisible marker system for waste sorting in order to verify its sustainability claims and track closed-loop recycling.
Security Matters, a start-up, focuses on recycling traceability and circular economics. The company has created a blockchain-powered recycling conveyor which identifies the plastics in recycling using its chemical mark.
The company has some high profile partnerships. A joint venture was formed with the Perth Mint, a government agency. It also participated in the pilot project BASF reciChain for plastic recycling.
Security Matters is not the only company in this sector. Blockchain startups such as Everledger, Circulor and others have been rising for some time. Circularise, a Dutch company that specializes in plastic traceability, has formed partnerships with major companies like Porsche and Mitsubishi.
Nomura Research, IBM and Mitsui Chemicals have formed a consortium for plastic recycling. Japanese chemical company DIC has begun a pilot using the SAP Blockchain solution to recycle plastics.