Project description
Software facilitates scrap metal trading
The EU-funded Schrott24 project is developing a platform that supports a more transparent metal scrap trading ecosystem. It uses proprietary algorithms and data analytics to maximise returns for the buyer and seller by monitoring and predicting prices in scrap metals and preventing unfavourable last-minute changes. Moreover, it reduces price volatility and gives a better picture of what materials are available to buyers. Sellers simply select the scrap they want to trade, choose their method of transport and receive payment. The aim is to introduce the technology first in the European and then in the global market.
Objective
Schrott24 is a digital platform, available as a web-based platform and mobile application that helps scrap metal sellers to maximise their financial returns and scrap metal recyclers to operate at full capacity. Schrott24 brings the old-fashioned, regional and offline industry of scrap dealing online where dealers can trade anywhere and anytime for the best price. Our technology brings transparency to this marketplace that has historically been untrustworthy and difficult to navigate. Sellers simply select the scrap they want to trade, choose their method of transport, and get paid accordingly. This is a radical shift from the time consuming options that are currently available. Best prices are guaranteed for customers as we take care of the negotiation with the scrap recycler. Our scrap metal prices are updated daily to align with the current market standard.
The SME Instrument project aligns itself perfectly with the innovation strategy and mission of Schrott24: to commercialise a novel, easy-to use, transparent and trustworthy platform for trading scrap metal that guarantees best price for sellers and maximum returns for recyclers and smelters. While it has enormous economic and environmental potential, funding is required to achieve our objectives in order to reach full commercialisation. Funding to date has allowed us to develop our technology into a working prototype that is operational in Germany and Austria.
The SME Instrument would enable us to complete the development of our technology and fully commercialise throughout Europe and subsequently worldwide. By leveraging our extensive network in the scrap industry, in tandem with our developed software, we have a clear advantage over existing solutions.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences internet internet access
- natural sciences computer and information sciences software
- social sciences sociology industrial relations automation
- natural sciences biological sciences ecology ecosystems
- natural sciences computer and information sciences artificial intelligence machine learning
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
8020 GRAZ
Austria
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.