The €cocard Project, developed by a team from the Biochemical Engineering Lab at UCIBIO - NOVA FCT, has been awarded the 2nd Prize in the innovation competition “Let’s give banknotes a second life” (Vamos dar uma segunda vida às notas), organized by Banco de Portugal.
The distinction recognizes the work of researchers Filomena Freitas, Maria Reis, Patrícia Reis, Diana Araújo, João Ricardo Pereira, João Matias, Thomas Rodrigues, and Francisco Santos from the Biochemical Engineering Lab
The project stood out for its circular economy approach, offering an innovative answer to a unique environmental challenge: how to handle banknotes that are no longer fit for circulation?
Closing the loop: From waste to functional security
The concept behind €cocard is simple yet impactful: transform end-of-life banknotes into a biodegradable bioplastic. This new material is then used to manufacture sustainable banking cards.
By doing so, the project creates a "closed loop" for banks, diverting waste from incineration and replacing conventional plastics with a greener alternative. Beyond the environmental benefit, the project maintains high security standards, using functional materials to produce elements with a low risk of counterfeiting.
Validating the science
For the UCIBIO researchers team, this award is a crucial milestone: "The €coCard prize supports the development of our project, which transforms out-of-circulation euro notes into biodegradable bank cards. We received this prize because €coCard offers an innovative way to close the loop for banks, giving old notes a second life while reducing environmental impact," explain the researchers.
The team emphasizes that this recognition "validates the scientific idea and its social and environmental relevance, increasing the project’s credibility and visibility."
From prototype to reality
Having already delivered a working prototype to the competition jury, the UCIBIO team now looks to the future. "This prize will allow us to optimize the process and scale it up, bringing the concept closer to practical, real-world application," they add.
A demanding competition
The competition, promoted by Banco de Portugal, aimed to find sustainable alternatives for the disposal of unfit euro banknotes. The institution noted that the quality of the finalists was exceptional and the selection process "particularly demanding."
The distinction is especially significant given the expertise of the jury panel, chaired by Clara Raposo (Vice-Governor of Banco de Portugal), and including experts such as Giuseppe Mosele (Principal R&D Expert at the European Central Bank) and Paulo Ferrão (Full Professor at Instituto Superior Técnico).