Dutch plastic blockchain startup selected for BASF accelerator programme
A Dutch plastic blockchain transparency startup, Circularise has been selected for the Circularity Challenge, a six-month accelerator programme initiated by German chemicals firm BASF SE and US cleantech incubator Greentown Labs.
Supported by Stanley Black & Decker, the programme is designed to advance innovative solutions to enable a circular economy.
After a “highly-competitive recruitment and deliberation process”, BASF said, five companies, out of a field of 100, were selected to participate in the accelerator programme:
• The Hague, the Netherlands-based Circularise, for its blockchain transparency solution with a patent-pending "smart questioning" technology. The process, according to the company, guarantees proof of sustainability, circular economy, and recycling practices for brands and manufacturers that aim for high sustainability standards and want to avoid greenwashing.
• Corumat, a California-based materials science company, which micro-engineers bioplastics to make lighter, stronger, cheaper products.
• Nexus Fuels, based in Georgia, US, for its waste plastic-to-feedstock technology. The company has a 50-tonne/day plant converting waste plastics to feedstocks, which in turn can be converted back to virgin plastics through molecular recycling.
• Interface Polymers, based in Loughborough, UK, for their unique Polarfin additives that enable the plastics industry to “transform performance and cost competitiveness” in applications where interfacial compatibility or surface properties are important.
• American Battery Metals Corp., based in Nevada, US, for its self-supporting mining operations and battery recycling divisions.
"By collaborating with these five companies alongside Greentown Labs and our customer Stanley Black & Decker in the Circularity Challenge programme, we strive to further sustainable innovation in the circular economy related to plastics, battery materials digital tools," said Peter Eckes, president, bioscience research and regional research representative North America at BASF.
The Circularity Challenge aims to connect entrepreneurs with mentors as well as with the business and technical resources they need to launch or further develop successful ventures with partnership from BASF.
"We know the circular economy will make an enormous impact not only on the environment but also on value chains, economic growth and the deployment of new innovations," said Emily Reichert, CEO of Greentown Labs.
All participants receive $25,000 in non-dilutive grant funding and will have access to Greentown Launch and select BASF testing capabilities globally.
"We were inspired to see great applications from almost 100 entrepreneurs from around the world and we are excited to support these five selected companies as they progress throughout the programme and work alongside experts from BASF."
The Circularity Challenge will feature six two-day workshops to highlight the participants and their industries. The challenge partners will host a culminating event in 2020 to share startup progress and success results throughout the programme.