Teijin Group, founded in 1918, is Japan’s first rayon manufacturer. The company announced its strategic pre-Series B investment in Circularise, a blockchain-based platform for supply chain transparency and traceability.
Teijin, a tech-driven global group with two core businesses, high-performance materials and healthcare solutions, may be looking to build its sustainability and circularity bona fide with the deal, which, according to Circularise, positions the company as a “significant partner in Circularise’s journey toward enhancing transparency and sustainability within global supply chains. “
“Following Circularise’s successful Series A funding in 2022, this investment by Teijin further underscores the strong confidence and momentum in Circularise’s innovative solutions. The funding will facilitate Circularise’s expansion in high-performance materials and broader industrial markets while preparing the groundwork for an anticipated Series B round,” the company said in a media release.
“We believe that together with Teijin, we can set a benchmark for industry-leading examples of the circular economy, delivering scalable and rapid solutions to the market,” said Jordi de Vos, co-founder of Circularise. “We are honoured to welcome Teijin Group as a strategic investor. This collaboration reflects our shared vision for a transparent, traceable, and sustainable supply chain. We look forward to this collaboration to further propel our mission and strengthen our market presence.”
Circularise, headquartered in the Netherlands, said in a statement that the “materials and manufacturing industries are facing a pivotal moment as they adapt to new and updated EU regulations like the Ecodesign for Sustainable Products Regulation (ESPR), the Corporate Sustainability Reporting Directive (CSRD), and the enhanced Extended Producer Responsibility (EPR) directive, with such regulations emphasizing the need for increased traceability and sustainability in supply chain practices—at least in Europe and Asia.”
“As a leading company in high-performance materials, we at Teijin are actively increasing our efforts to become more circular,” said Ton de Weijer, general manager of Tejin’s Environment Solution Division. “The investment in Circularise will enable us to cooperate with leaders in the field of traceability and to create an environment that will support us in setting the right steps forward.”
The Teijin Group said it is “committed to reducing its consolidated energy consumption and adopting more renewable energy and recycling systems.”
Circularise “believes that creating transparency in the value chain and the ability to trace material flows is essential for realizing the transition towards the circular economy. With this strategic cooperation, Circularise and Teijin join forces and combine their knowledge to address this challenge.”
Teijin Group includes 170 companies employing 20,000 people in 20 countries. In the fiscal year ended March 31, 2024, the company posted consolidated sales of 1,032.8 billion yen ($6.6 billion) and total assets of 1,251.0 billion yen ($8.0 billion).
Image courtesy Circularise
