26.03.2021 - Technology, Startups

ChemCode creates chemical fingerprints for products

Latvia-based startup ChemCode fights counterfeiting with additive technology that makes it possible to trace raw materials and products. It manufactures identification markers with a virtually indestructible fingerprint to ensure that the final product is traceable.

“Globally, the loss of profits due to counterfeiting is around 450 billion dollars. In Europe alone, the impact of counterfeiting is 65 billion dollars per year,” says Erick Pastor, co-founder of ChemCode. Globalization doesn’t help. This process extends production to different regions and there is a need to control the product chain and validate authenticity during the product life cycle. Meanwhile, there is another trend to return to local production. But the challenges with counterfeiting are still alive there and are perhaps even greater. “We want to help manufacturers protect and track their globally distributed production,” stresses Pastor.

To be sure of the origin of manufacture, ChemCode technology must be applied at the beginning of production. It becomes part of the product: the producer adds the special taggant (marker) in powder form to the product providing a chemical fingerprint. It works both ways: manufacturers can trace products and materials and the end customer can validate that their products are authentic.

The company’s technology application includes polymers and blasting agents, additive manufacturing materials, surface coatings, and inks. There are several ways of application depending on the industry and the material.

ChemCode is in the process of validating the technology in the market, with outgoing interactions in the industry. In the near future, the company will work on some projects in Asia and Europe with the aim of expanding and introducing this technology worldwide. At the end of this year, it is planned to implement the first pilot projects.

Erick Pastor is originally from Ecuador and came to Latvia to study for a Master’s degree. “The best thing a person can experience is traveling and gaining knowledge and experiences about life and people,” he says. 

Erick decided that Latvia is a geographically good region and came to Latvia in 2017 with the idea of getting involved in the startup ecosystem. ChemCode was established a year ago. He became part of the Commercialization Reactor scientific program, where he met his business partners. Pastor’s expertise is in design, innovation, and business strategies.

Source: labsoflatvia.com

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