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PepsiCo partners blockchain startup Security Matters for plastic recycling
PepsiCo Labs will collaborate with six startups, including Security Matters, which uses blockchain technology to identify, sort, and pack waste, in promoting sustainability in its European supply chain.
Using Security Matters' invisible marker technology in garbage sorting, PepsiCo will be able to track closed loop recycling and validate sustainability claims.
Security Matters has created a blockchain-powered recycling conveyor that uses a chemical identifier to identify plastics during the recycling process. The marker permits the storage of a digital twin on a blockchain network, allowing for product identification and traceability.
The company has some high-profile partnerships. It secured a joint venture with government-owned Perth Mint to track the production and authenticity of gold and was part of the BASF reciChain blockchain pilot for recycling plastics.
On top of these collaborations, Security Matters has just announced a NASDAQ SPAC listing. The SPAC deal valued the company at $200 million, 14 times its valuation on Australia’s ASX stock market the day before.