Circular Economy Challenge 2022

The classic linear economic model of “extract, use and discard” is unsustainable and outdated. The wasteful linear model is gradually being replaced by a sustainable circular economic model and hence?Circular Economy (CE) and Sustainable growth are topics that continue to grow in importance. The European Commission has adopted a new circular economy action plan which is the foundation of EU’s goal of achieving carbon-neutrality by 2050.

Circular Economy (CE) is essentially a strategy adopted by several companies wherein the products in use today are transformed into raw materials of tomorrow. Unlike in a linear system of handling products where they eventually end up in landfills, a circular system aims at maximizing product usage by devising ways to make it useful at the end of its lifecycle.

The image (Source: UNIDO) gives an overview of the various elements of Circular Economy.

Introduction to the CE Challenge

Mitsubishi Chemical has an extensive portfolio of sustainable advanced materials, coupled with large-scale advanced manufacturing and recycling capability. These capabilities support industries to transition towards a Circular Economy (CE), with new circular business models to accelerate growth, meanwhile significantly reducing their carbon footprint and CO2 emissions.

The broad range of sustainable advanced materials can be used to produce finished parts or products with significantly lower carbon footprint compared to existing industry standards. Besides offering sustainable advanced materials, Mitsubishi Chemical actively facilitates development of prototypes, production of semi-finished parts and finished parts for series production. To support the implementation of the CE, Mitsubishi Chemical has invested in recycling facilities at industrial scale which will enable customers to send back their production waste and products end-of-life for recycling and successfully close-the-loop.

In partnership with Mitsubishi Chemical Europe and Wevolver, we are launching the Circular Economy Challenge to further accelerate implementation of Circular Economy. We would like to invite entrepreneurs and innovators from all over the world to participate in the Challenge focusing on two categories-

1)?????Recycling Technology

The first category includes processes which improve the mechanical and chemical recycling processes which supports the production of materials (thermoplastic polymers) with low carbon footprint resulting from high amounts of recycled content.

The key elements in this category focuses on imparting sustainability to thermoplastic polymers by facilitating closing of the loop and supporting implementation of Circular Economy. Simply put, we are encouraging technologies or services that improve (in terms of speed, quality, and costs) recycling processes of thermoplastic polymers.

The processes can pertain to mechanical (such as collection, automated sorting, smart cleaning, grinding or quality control) and chemical recycling (using heat or chemical reactions for breaking down polymer waste).

2)???Parts or Products

The second category focuses on designing, developing, and manufacturing parts or products from engineering plastics with a low carbon footprint. The products should be able to be recycled at the end of their life and achieve circular economy model.

We encourage innovative startups and scaleups that manufacture or sell parts or products manufactured with thermoplastics using CNC machining, injection molding or 3D printing to participate in this category. The key requirements is to facilitate thermoplastics manufacturing with a low carbon footprint and an intention to implement a circular business model to the processes.?

Winner Categories and Support

The Circular Economy Challenge will have 4 Winners in total.

1)?????Overall Challenge Winner: a) Recycling Technologies b) Parts/Products

2)?????Student Award Winner

3)?????Wevolver Community Winner

The Winners will receive benefits such as access to a wide array of material selection, designing and prototyping support, access to testing facilities, feedback from Circular Economy experts, Business Intelligence, Joint Marketing, Business Model and Value Proposition analysis support. The support is worth up to $25,000 i.e., there is no prize money but an opportunity to create a pilot, a prototype and test your technology and create tangible proofpoints.

For more information visit: Growth Garage's Circular Economy Challenge 2022

How can you enter the challenge?

To enter the Challenge please complete the entry form before Wednesday 18 May. You are asked to provide personal details, text description of your entry, and supporting images.

Submit your innovative idea: Circular Economy Challenge

Early-Bird Submission

Enter the Challenge with your submission before Friday, 22th April 2022, and Growth Garage engineers will review your entry and provide you with feedback on your entry. You can then adjust your design and re-enter your submission.

What are the key dates?

Challenge Opens: Tuesday, 22 March 2022

CE Challenge Webinar 1: Thursday, 31 March 2022, 16:30 CET Registration Link

Circular Economy Webinar 2: Tuesday, 19 April 2022, 16:30 CET Registration Link

Early Bird Submissions Closes: Friday, 22 April 2022

Challenge Closes: Sunday, 22 May 2022 , 12 am CET (3 Extra days for Early Bird Submissions)

Finalists Announced: Tuesday, 31 May 2022

Winner Announcement Event: Tuesday, 14 June 2022

You will find complete information about the Challenge in the Entry Pack

Looking for more inspiration?

Our previous Challenge based on High Temperature Carbon-Fiber 3D printing concluded in December 2021. You can read the stories of the finalists of the Challenge on our LinkedIn page: High Temperature Carbon-Fiber 3D printing Challenge

We are looking forward to your brilliant submissions!

References

1. The Circular Economy: What, Why, How and Where
2. Closing the loop – the circular economy, what it means and what it can do for you
3. World Economic Forum: Circular Economy and Material Value Chains
4. United Nations Industrial Development Organization: Circular Economy

About Mitsubishi Chemical Europe, Mitsubishi Chemical Advanced Materials and Growth Garage

Mitsubishi Chemical Advanced Materials is a leading global manufacturer of high-performance materials in the form of semi-finished products and finished parts. The company has locations in 20 countries and more than 2,800 employees. Its specialty engineering thermoplastics and composites are superior in performance to metals and other materials and are used in a wide range of applications, primarily in the capital goods industry. The company is continuously developing new areas of applications in close cooperation with industry leaders in a wide variety of customer markets. The Mitsubishi Chemical Advanced Materials Group is well prepared to further expand its market leadership position.

Growth Garage is a business accelerator program from Mitsubishi Chemical Advanced Materials. Our mission is to support and grow new ideas using our technologies and advanced engineering materials to help tackle some of today's biggest engineering Challenges. We are offering the opportunity for engineers and innovators to pitch us their ideas and receive manufacturing support and services.

Mitsubishi Chemical Europe is a wholly owned subsidiary of Mitsubishi Chemical Corporation. The company, with headquarters in Düsseldorf, offers and sells highly developed chemical-based products. The portfolio includes performance polymers, carbon fiber & composites, polyester films, aluminum and metal composite sheets as well as semiconductor solutions for a wide range of industries. In an additional role as regional headquarters for Europe, located in Frankfurt, it promotes the exchange between group companies in Europe and management in Japan. The stem of all activities is to contribute to the KAITEKI corporate philosophy, which strives for sustainability for people, society and the earth.

Mitsubishi Chemical Methacrylates are the world's largest producers of Methacrylates, the building block of all acrylics. Acrylics are part of daily life for almost everyone. From protective screens to signage, paints and coatings to fittings and furniture, baths to automotive parts and more, they play an important role our daily lives. With manufacturing sites, sales offices and distribution networks stretching across Asia, the Americas and Europe, they supply Methacrylates reliably everywhere.