Circulor

Circulor is the British blockchain startup registered on November 17, 2017 with office in London. On the data which are available for March, 2018, the startup specializes in tracking of supply of cobalt for the purpose of providing a legal origin of a resource.

History

2020: Invested Volvo in a blockchain company for control of deliveries of components of batteries for electric vehicles

On July 8, 2020 announced Volvo Cars investment through the Volvo Cars Tech Fund into Circular blockchain company. The innovative solutions of a startup will allow car maker to improve traceability of the materials used in accumulators of electric vehicles including cobalt.

The solution blockchain from Circulor is already used by Volvo Cars on all chain of movement of accumulators for electric vehicles. The technology is designed to help the company to reach effective monitoring of cobalt which is used, for example, in XC40 Recharge P8 model - the first completely electric Volvo Cars car. Production XC40 Recharge P8 will begin slightly later in 2020 in Ghent (Belgium).

Investments into Circulor will allow the companies to expand the activity, without being limited only to cobalt. For example, there are plans for mica monitoring improvement. This mineral is applied as insulating material in the battery pack of the Volvo electrocars.

Invested Volvo in a blockchain company for control of deliveries of components of batteries for electric vehicles

Partners also consider the possibility of use a solution blockchain for tracking of emissions of a carbon dioxide gas. Investments of Volvo Cars Tech Fund are a part of financing of Circulor in which three other investors also take part: SYSTEMIQ, Plug & Play and also Total Carbon Neutrality Ventures (TCNV).

Volvo Cars is considered the first car maker who at the international level will trace with the help a solution blockchain origin of cobalt for production of accumulators of electric vehicles. Support of the technology developed by Circulor was succeeded to implement together with producers of the CATL and LG Chem accumulators which are partners of Volvo Cars.

Volvo Cars Tech Fund founded in 2018 invests in technology startups with a high potential worldwide. The fund is aimed at investment into spheres which are capable to transform automotive industry, it is about artificial intelligence, electrification, autonomous driving and digital mobility.^[1]

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