Compellio Issues Digital Product Passport

Compellio Founder Denis Avrilio (Photo © Compellio)

The blockchain solution from the Luxembourg startup Compellio will help industries and consumers to provide and access reliable data on products’ circular properties.

Compellio has announced the launch of its Digital Product Passport solution for the Circular Economy dedicated to industrial companies, auditors, and institutions active in circular supply chains.

The Luxembourg-based startup specializes in enterprise software services powered by blockchain technology.

“As a member of the Product Circularity Data Sheets (PCDS), Compellio has taken concrete steps to contribute to Europe’s Green & Digital transition,” the company explains in a press release.

Led by the Ministry of Economy of Luxembourg and supported by major international industry leaders, the PCDS Initiative is a basic source of verifiable data. It can be used to establish how circular a product is and inform about the circular path it was designed and manufactured for. The PCDS offers a standardized format with trustful data without scoring or ranking of these aspects.

Standardized and trustworthy statements

“The system includes a data template containing standardized and trustworthy statements on the product circularity, a third-party verification process to validate the content of the PCDS (audit system) and a standardized data exchange protocol based on decentralized data storage (IT system),” the Ministry of the Economy of Luxembourg details in a dedicated portal.

The initiative shall provide basic data on a product’s circularity to all relevant stakeholders as well as improve the sharing efficiency of circularity data across supply chains. It also aims to encourage the improvement of product performance in terms of circularity.

“The solution enables compliance with the upcoming ISO 59040 PCDS standard,” Compellio adds.

The ISO standard provides a general methodology for improving the accuracy and completeness of circular economy-related information based on the usage of a Product Circularity Data Sheet when acquiring or supplying products.

“In order to help companies comply with the ISO standard in a fully interoperable manner, Compellio now provides a trusted accountability system that addresses the difficulty for industry and consumers to access reliable data on the circular properties of a product,” the startup explains.

The solution uses blockchain-enabled registries, tokenized data, and verifiable credentials for PCDS-related assets while leveraging self-sovereign identity (SSI) components to ensure trusted authentication, auditability, and data access services. The GDPR-compliant solution is offered as cloud-based SaaS (Software as a Service) with plug-and-play API connectivity for enterprise systems and on-premise deployments.

Headquartered in Luxembourg, Compellio also specializes in product traceability, e-government, fintech, regtech services. The company recently signed off a strategic partnership with Ampelooeniki a Greek viticultural consultancy and applied research company.

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