An EU-funded certification scheme using blockchain is being developed for rare earths as automakers demand proof that materials used to make magnets for electric vehicles (EVs) are not linked to toxic pollution, reports Reuters.
The system will set global standards and give confidence to consumers demanding sustainable products, two of the organisers told Reuters ahead of an official announcement.
The Circular System for Assessing Rare Earth Sustainability (CSyARES), says Reuters, is due to be ready in about three years, the Rare Earth Industry Association (REIA) and Dutch supply chain traceability firm Circularise said.
The EU is funding the project through EIT Raw Materials, an organisation implementing an EU action plan drawn up in 2020 to secure critical minerals for the bloc. The amount of funding was not disclosed.
The scheme is part of Europe’s quest to jump start domestic output of super-strong rare earth magnets used in EVs. read more
The system will track rare earths using blockchain tokens, or digital passports, through the complex supply chain from mining to end-of-life, said Teresa Oberhauser of Circularise.
Circularise and REIA are two of five partners invlolved in CSyARES. The other three are Germany’s BEC, Denmark’s Grundfos and London-based Minviro.