Orbex has launched the “world’s first” marketplace for globally recognised authenticated recycled metals.
Orbex is a global marketplace which facilitates the trading of environmental commodities and says it 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.
The company applies a certification of origination (COO) for all secondary metal which is transacted via the new marketplace, which Orbex says details the materials’ proof of provenance and origin.
Orbex develops authentication standards and processes as part of an open-source initiative at the independent non-profit standards body OASIS Open. The company says these help businesses to make responsible sourcing decisions, optimise their ESG emissions reporting and substantiate environmental credentials to stakeholders.
Orbex, which is backed by metal recycler and processor SA Recycling, has plans to expand to other environmental commodities such as recycled plastic and organics.
Orbex is the first piece of critical trading infrastructure and will remain the original and most trusted source for secondary metals.
Commenting on the launch, Orbex CEO Thomas Buchar, said: “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.
“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.”
