Orbex has unveiled the world's first marketplace for the trade of internationally certified recycled metals, intending to create a circular economy.
The platform facilitates the trading of environmental commodities and has secured one of the largest supplies of recovered ferrous metal in North America, as well as access to 2% of the global recycled aluminium and copper markets. Recycled aluminium is one of the non-ferrous metals with the lowest carbon content as it stays in the material loop forever, negating the percentage of CO2 emissions with each cycle.
To ensure the authenticity of all secondary metals transacted, the company applies a certification of origination (COO), which details the materials' proof of provenance and origin.
Orbex develops authentication standards and processes for responsible sourcing decisions, optimising ESG emissions reporting, and validating environmental credentials to stakeholders.
SA Recycling backs Orbex, and the company has plans to expand to other environmental commodities, such as recycled plastic and organics.
Thomas Buchar, the CEO of Orbex, referring to the launch, discussed: "Orbex is driving much-needed change by finally bringing globally-recognised standardisation to an enormous market which until now has sat untapped and unimpeded."
"We are proud not only to be promoting sustainable practices in sectors which are traditionally hard to abate while offering the unique opportunity to capitalise on increased demand for environmental commodities, ensure supply chain integrity, and assist multinationals in their transition to a circular economy," he stated.
"Orbex is the first piece of critical trading infrastructure and will remain the original and most trusted source for secondary metals. We're looking forward to a future where we can offer a wide range of authenticated environmental commodities," the CEO announced.