The Spanish Society for Technological Transformation (SETT) , attached to the Ministry for Digital Transformation and Public Function , has announced an investment of more than 1.1 million euros in the Spanish company ScrapAd , which has developed a smart platform for buying and selling recyclable metals , thus contributing to sustainability and the circular economy.
According to the International Energy Agency, steel and metal production is responsible for 10% of global carbon dioxide emissions . Using recycled metals reduces the energy required for their production, thus contributing to lower emissions and the sustainable use of energy resources.
ScrapAd's platform incentivizes metal reuse by digitizing a traditional and fragmented sector with a solution that integrates financing, logistics, and traceability. Furthermore, it reduces dependence on imported raw materials and provides easy access to high-quality recycled materials, saving on emissions, energy, and water .
The ScrapAd marketplace covers the entire metal recycling value chain , from waste generators (manufacturing, automotive, aerospace, construction) to recyclers, traders , foundries, and steel mills.
For its part, its technological proposal combines applied and functional solutions with the integration of Artificial Intelligence . The most advanced component is its price recommendation engine. ScrapAd has built AI models on real-world transaction data from this market, incorporating all kinds of variables, which allows for highly accurate price recommendations. Furthermore, it has a document verification system that makes transactions transparent .
This project democratizes access to the metal recycling market for small and medium-sized enterprises in Spain, offering a secure place to dispose of their waste without language, logistical, or documentation barriers. Furthermore, it facilitates job creation, estimated at over two hundred new positions , both direct and indirect.
This operation, which is joined by other private investors within SETT's public-private partnership strategy , is a further step in the Spanish Government's initiative to implement advanced technologies in industry that help optimize processes and reduce the carbon footprint, contributing to the sustainability of the economy.
SETT is carrying out this operation through its Next Tech facility , using funds from the Recovery, Transformation and Resilience Plan (Next Generation EU Funds) , which aims to boost financing for startups and scale-ups in the technology sector. In addition, SETT manages two other facilities to strengthen the technology business ecosystem: PERTE Chip , dedicated to microelectronics and semiconductors, and Spain Audiovisual Hub , which promotes the digitalization of the audiovisual sector.
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