Launched in 2022 as an end-to-end digital supply chain platform for sourcing and managing recycled plastics, Circular.co, has now added a number of new features to its offerings, the company has announced. The changes are a direct result of input by brands and manufacturers regarding the high costs and inconsistent quality of the recycled materials they have experienced in the open market.
“For the first time we are seeing PCR’s ‘Green Premium’ trend to zero,” said Ian Arthurs, founder and CEO of Circular.co.“New technology innovations are creating a more efficient value chain and driving down the cost of sourcing sustainable materials. This means implementing PCR in products is not only truly feasible, but with new data demonstrating the additional growth of sustainability brands, we also see a significant profit potential for forward thinking brands, too,” he added.
The platform now standardises and digitises the RFQ process, matching suppliers to buyers’ technical requirements, price and volume. According to Circular.co, with network scale - its digital global network comprises over 5000 global suppliers across the value chain - and multiple long term contract models, material is sourced to spec at under index prices.
Circular has also developed a number of supply chain tools that enable easy and secure management of the entire sourcing and transactional process including contracting, communication, testing, QA and delivery, while reducing risk and lowering overhead costs. In addition, the platform integrates carbon partners to offer carbon footprinting. Circular can measure and certify avoided CO2e emissions, enabling members to report ESG progress accurately. Certifying avoided emissions ‘radically increases the value of replacing virgin plastic with PCR’, Circular said.
