Researchers at the Technical University of Denmark have developed a new digital tool that can help manufacturing companies in their transition towards a circular economy.
Ready to change?
In Denmark, we have historically been good at translating green visions into actual business. The next green megatrend – or rather paradigm shift – that is already sweeping through the boardrooms is called circular economy.
Therefore, Technical University of Denmark (DTU) and the Danish Industry Foundation have initiated the MATChE project (Making the Transition to Circular Economy), which now offers manufacturing companies a new tool for assessing their readiness to change to a circular economy through an online assessment. 73 companies have already used the tool.
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The new tool is targeted at manufacturing companies – both large and small – from all industries. The company can use the tool to generate a readiness profile, gain insight into strengths and opportunities, and benchmark itself against other companies from the same or other industries. Thanks to this kind of knowledge, companies can optimize their circular economy initiatives and thus better utilise their raw materials or residual products.
– “The goal is to get at least 100 companies to use the tool systematically, and we are already well on the way. The more companies, the more nuanced benchmarking data we can return. There is enormous potential in gaining access to knowledge and making circular economy more measurable”, says Tim C. McAloone, Professor at DTU Mechanical Engineering and project manager of the MATChE project.
All companies can use the new tool
The tool is available for everyone. All you have to do is set up your business on my.matche.dk and answer 30 questions, and then you can benchmark your company up against the rest of the industry and get concrete recommendations as to where you can improve both in the short and long term.
– “Danish companies may profit from better raw material consumption and increased recycling. With new technology, new methods, and new partnerships, the potential is huge if the companies are able to seize the opportunities. Tools for implementing a circular economy may therefore potentially benefit many companies“, says Mads Lebech, CEO of the Danish Industry Foundation, which has supported the MATChE project with EUR 470,000.
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One of the 73 companies that have already used and experienced the value of the tool is Letbæk Plast A/S. The company, which provides turnkey designs for new product lines in plastics, is a pioneer in plastic recycling and has over a number of years become circular economy experts.
– “It is our clear expectation that the MATChE platform will help us to increase our readiness for a circular economy, simply because we will be able to benchmark ourselves against others and identify new business opportunities”, says the company’s CEO, Michael Bayer Thomsen.
In addition to DTU, which is heading up the project and is responsible for the development of the digital tool, the consortium partners – the Confederation of Danish Industry, the Danish Environmental Protection Agency, and the CHORA Connection think tank – help to ensure the involvement of companies and the dissemination of new knowledge.