Porsche, BASF, Motherson, and CircularTree Win Prestigious Award for CarbonBlock
BERLIN, GERMANY, September 23, 2020 /EINPresswire.com/ — Consumer demand for carbon footprint information on the products they purchase is increasing. But in sectors such as the automotive industry, supply chains are often long, complex, and opaque, which makes tracing and calculating carbon footprints of complex products across the entire supply chain very challenging due to the lack of standardized and reliable data.
A cutting-edge solution to this challenge, CarbonBlock, has won the Plug and Play Global Innovation Award from Europe’s largest innovation platform STARTUP AUTOBAHN. Out of hundreds of talented startups from across Europe, Berlin-based CircularTree came out on top for its innovative work on CarbonBlock, the blockchain-powered data platform project, with high-performance automotive manufacturer Porsche, multinational chemical company BASF, and automotive supplier Motherson. Representing a simple automotive supply chain, the three companies embarked on a pilot project with CircularTree to measure and manage carbon footprints of an automotive part – a Porsche Taycan bumper – using smart contracts.
“Typically, 80% of the product carbon footprint comes through the supply chain and companies need an efficient solution to measure and manage the carbon footprint of their supply chain,” states Gunther Walden, CEO and co-founder of CircularTree. “And the CarbonBlock solution offers convincing benefits: it provides a scalable and secure solution which enables the transparent display of CO2 data along the supply chain while guaranteeing data privacy and maintaining a competitive advantage,” Walden continues. “We are honored to have won this award for our pursuit of innovative and effective sustainability solutions and are thrilled to have such renowned industry partners in our pilot project. This reinforces CircularTree’s mission and we are very excited about what we can achieve with larger industrial ecosystems in the future.”
CircularTree (Member of iPoint Group) leverages emerging technologies to create new value from information with the goal of making the world a better, more sustainable place. The startup is driven by the question how Blockchain technology can be utilized to facilitate systematic collaboration between and within organizations and at the same time enable them to achieve sustainable and highly efficient supply chains and product life cycles. Further information: www.circulartree.com
About the STARTUP AUTOBAHN:
STARTUP AUTOBAHN is a joint project of Daimler AG, the University of Stuttgart, the Startup Accelerator and Investors Plug and Play and the research campus ARENA2036. As an innovation platform, STARTUP AUTOBAHN connects startups of all development stages with industry-leading corporate partners to pilot their technology in order to unite global startups with the tech expertise of Silicon Valley and the best of German engineering. Further information: https://startup-autobahn.com/
Source: EIN Presswire