Rubicon will help a Japanese conglomerate develop the circular economy

Saudi Basic Industries Corp. (SABIC), Riyadh, Saudi Arabia, launched a pilot project in November 2021 which will initially last 12 months with technology company Finboot, advanced recycling company Plastic Energy and packaging specialist Intraplás to study the possibilities of the technology blockchain in supporting end-to-end digital traceability of circular raw materials in customer products. To improve the process of tracking the journey of raw materials through the petrochemical value chain and to support the delivery of this product to customers, SABIC says it has initiated this pilot project to demonstrate the feasibility of using a value chain IT application based on the blockchain.

According to a SABIC press release, Finboot’s MARCO software will act as an intermediate layer to follow the TACOIL produced by Plastic Energy from its recycling process as well as the delivery of this oil to SABIC for conversion into its Trucircle polymers and finally the delivery of the polymers to Intraplas to convert into its packaging solutions. SABIC expects this platform to reduce costs, time and improve data integration for value chain partners. The company says the technology also ensures that all data collected remains immutable while being shared among suppliers, customers and regulators, providing transparency, auditability and accountability in a complex industry ecosystem.

“This pilot project has the potential to have a significant impact on the value chain, providing a new level of traceability and transparency for recycled plastics, and demonstrating how advanced recycling can play a valuable role in the economy. circular of plastics,” says Carlos Monreal. , founder and CEO of plastic energy.

According SABIC, blockchain technology helps validate the sustainability proof points and environmental, social and governance (ESG) credentials of organizations. The technology also reduces the administrative effort associated with the materials certification process and is also a more reliable process, due to the reduced risk of human error.

Waleed Al-Shalfan, Vice President Polymers Technology & Innovation at SABIC, said, “At SABIC, we have a deep commitment to innovation and technology that can help us deliver more sustainable solutions to our customers. Our vision to create a circular economy for plastics requires a total transformation of the value chain and pioneering partnerships with upstream and downstream partners. Blockchain technology holds exciting potential for delivering our Trucircle products to customers, and therefore for our commitment to supporting customers in their sustainability ambitions.

“The blockchain technology project will further strengthen our goals, as it will help us improve performance, create additional transparency in the supply chain and promote digital traceability of our certified circular packaging,” adds Marisa Alves, Director purchases at Intraplás. “This is a contribution of Intraplás, through more concretely sustainable solutions, to a true circular economy.”

According to SABIC, the project announcement follows the successful completion of the first end-to-end transaction, from Plastic Energy’s end-of-life plastic processing, through SABIC’s cracking, to the production of a yoghurt pot by Intraplás. “We have proven that we can trace food packaging back to its plastic waste raw materials,” the company says. “We are currently refining the mapping from product to raw material, as well as improving the look and feel of the traceability results to make it easily accessible and understandable for end consumers.”

*This article was updated on August 3, 2022 to add pilot duration and end-to-end first transaction details.