Nornickel, the world’s most significant palladium, and high-grade nickel manufacturer, has partnered with Johnson Matthey, chemicals and sustainable technology firm, to supply essential metals and minerals for Matthey’s electric vehicle battery production in Finland.

The collaboration will also look at using blockchain technology in the cobalt and nickel supply chains.

Both Nornickel and Johnson Matthey are dedicated to enhancing the long-term viability of their respective industries’ production. Earlier this month, Nornickel announced plans to expand its sustainable nickel and cobalt production in Finland.

Johnson Matthey’s new commercial plant in Finland (the company’s second in the country) is entirely operated by renewable energy.

Blockchain use in supply chain management will improve transparency between the metals supply chain and customers and foster long-term improvements in manufacturing processes.

Nornickel President Vladimir Potanin said, “Our memorandum should allow us to identify mutually beneficial sustainability initiatives that support the goal of achieving the most sustainable battery materials value chain in Europe.”

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Nornickel plans to use blockchain to tokenize smart contracts around the supply chain.

This could help with metal delivery traceability and ensure ESG credentials like carbon footprint and other certificates that show responsible sourcing through comprehensive and accurate auditing.

Nornickel is also the founder of Tokentrust, a company aiming to digitize and tokenize commodities for trading purposes. Atomyze, its website was commercially released in January of this year.

It seeks to respond to rising consumer interest in commodity markets and make them more liquid and transparent. Atomyze has been part of Hyperledger’s consortium for over a year.

Meanwhile, in January of last year, the Bank of Russia accepted Nornickel’s request to create a digital asset tokenization platform. Also, IBM’s Responsible Sourcing Blockchain Network recently welcomed the business.