Blockchain sustainability startup Circularise has partnered with transport and marine biofuel firm FincoEnergies on a project involving its GoodFuels brand. GoodFuels will use Circularise software for biofuels supply chain traceability.
Circularise has a long list of blue chip clients including Asahi Kasei, Covestro, Domo Chemicals, Marubeni, Mitsubishi Chemicals, Neste, Philips Domestic Appliances and Porsche.
The European Union’s RED II regulations for biofuels require quite a bit of record keeping. For example, GoodFuels has to keep records of the sourcing, chain of custody and greenhouse gas emissions (GHG). Most of this is manual, so Circularise helps to make it digital and also integrates with third party verification schemes. ISCC EU is a certification firm Circularise has previously worked with. The startup uses the Ethereum blockchain and zero knowledge proofs for traceability.
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