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Teijin Ltd., a chemical, pharmaceutical and information technology company based in Tokyo, Japan, announced that it will invest in Circularise B.V., a company based in The Hague, Netherlands, which develops product traceability management systems using blockchain technology.
Teijin will also implement Circularise’s software to improve transparency in its global supply chain. Circularise’s proprietary Smart Questioning solution, which utilizes zero-knowledge proof technology, provides anonymity and transparency to ensure a highly reliable product traceability system.
This platform will enable the company to procure raw materials with lower environmental impact that contribute to the development of new, sustainable products and services. Teijin aims to promote efficient and effective resource utilization across its entire supply chain. This initiative will also help the company reach its goal of carbon neutrality by 2050.
Circularise’s digital traceability platform allows organizations to track the history, location, composition and application of a product or material throughout the supply chain to the point of origin.
“We believe that, together with Teijin, we can set a benchmark for industry-leading examples of the circular economy, delivering scalable and rapid solutions to the market,” says Jordi de Vos, co-founder of Circularise. “We are honored to welcome Teijin Group as a strategic investor. This collaboration reflects our shared vision for a transparent, traceable and sustainable supply chain. We look forward to this collaboration to further propel our mission and strengthen our market presence.”
“As a leading company in high performance materials, we at Teijin are actively increasing our efforts to become more circular,” says Ton de Weijer, general manager of the Environment Solution Division at Teijin. “The investment in Circularise will enable us to cooperate with a leader in the field of traceability and to create an environment that will support us in setting the right steps forward.”