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Agave Networks, an online scrap and surplus materials trading platform, has just been awarded almost £50,000 in grant funding led by the United Kingdom’s innovation agency, Innovate UK, to develop a solution which can grade and verify scrap ferrous metals using only images and videos from the materials.

The startup is developing a scrap metal online marketplace using a batch-per-batch verification system, allowing buyers and sellers to trade securely and efficiently. Their technologies rely on verifying not only their buyers and suppliers with strict KYC and KYS systems but also adding an additional level of trust by verifying each material’s existence and quality on their platform. If you are interested in joining the network of importers and exporters of scrap metal, register at https://www.agavenetworks.co/

During the six months of the duration of the project, the Agave Networks team will collaboratively work with different scrap metal yards and steel foundries across the UK to:

1. First, create an extensive image and video dataset of the materials and product types accepted into each ferrous scrap metal grade and their most common contaminants. For example, for the grade Heavy Melting Steel 1&2 or HMS1&2 80:20, the steel scrap grade most commonly traded, the team will gather the necessary data to analyse which pieces of the materials are considered HMS 1 and which ones will be considered HMS2. This dataset will serve as a catalogue and industry reference for which material products and types are accepted into the most common scrap ferrous metal grades.
2. And secondly, after getting the right amount of verified images of scrap ferrous metal tagged with their correct specification, the team will develop a model using machine learning and computer vision technologies which will be capable of analysing the quality, grade and composition of ferrous scrap metal using images and videos taken on-site with any smartphone.

Currently, the team is looking for industry partners, including UK and international scrap metal yards, traders and steel mills, who want to join forces to develop an industry-wide catalogue of steel scrap images and videos dataset. If you want to collaborate, don’t hesitate to get in touch with Daniel Byrd, the Agave Networks CEO, at [email protected]

“As entrepreneurs in this field, we invite UK scrap yards to collaborate on our project. This will not only benefit their businesses but will help the wide scrap metal recycling industry to take a step further into digitalisation.” – Emmanuel Byrd, Agave Networks CTO

Challenges in trading scrap metal

Manual record-keeping practices in the scrap metal industry result in a lack of transparency, posing a significant challenge for traders. Without an adequate system to track and verify material quality quickly, buyers face difficulty ensuring they receive what they pay for. This issue is compounded by the limited testing capabilities available to many players within the supply chain, making it harder to identify potential issues accurately. Additionally, it can be challenging to trace material provenance throughout a complex network of suppliers and buyers, further complicating trade in this market. These challenges must be addressed if we are going to revolutionise scrap metal trading with Agave Networks’ new Machine learning algorithms and computer vision technology.

Disrupting the metal recycling ancient practices.

Steel recycling is not an innovative practice. In fact, it is one of the materials more widely recycled for hundreds of years. Some archaeologists claim that metal recycling was a widespread practice in 400 BC. However, the steel metal recycling supply chain processes have remained unchanged.

Currently, ferrous scrap metal stakeholders, including scavengers, scrap yards and even steel foundries, still rely on visual inspection for materials’ verification, hence trading purposes. Sellers and buyers of scrap ferrous metals depend on sharing images and videos of the materials to be sold or bought to agree on the quality, hence price. These quality verification processes, relying on human interpretation, are prone to results, variability, error, delays and abuse.

Other more advanced grading technologies available to grade and sort other recyclable materials like aluminium and copper, including XRF and Eddy current magnetic separators, are neither suitable nor efficient nor cost-effective for mixed ferrous materials; hence very little utilised across the supply chain.

“We understand the challenge suppliers face in validating the quality of their materials, relying only on visual inspection and personal relationships with buyers. Our innovative solution provides a new level of trust between buyers and sellers using objective measures based on our machine learning algorithms.” – Daniel Byrd, Agave Networks CEO

Data disparities in UK-recovered steel make exporting domestic scrap more attractive than recycling it internally.

According to DEFRA 2021, in the Domestic Scrap Steel Recycling report by Dr Russell Hall, the UK steel foundry industry can increase domestic recovered steel usage from 2.6 to 3.5 million tonnes p.a. without additional investment. However, data disparities and mismatches between scrap stakeholders, decreasing UK domestic scrap capacity usage and exporting more attractive, translated into £225M in losses p.a. in addition to avoidable CO2 scope 2 and 3 emissions.

Acquiring new scrap metal suppliers

Agave Networks is seeking to expand its network of scrap metal suppliers in the UK. Our recent Innovate UK grant will enable us to develop advanced machine-learning algorithms that accurately grade the quality of scrap ferrous metals through images and videos. We invite interested suppliers to participate in the grant by providing us with photos and videos of their inventory, helping us improve our algorithms while benefitting from more secure and efficient trading opportunities. Additionally, we offer services for validating the quality of your inventory with domestic and international buyers or even selling it on your behalf using Agave Network’s state-of-the-art technology. Contact the team today to learn more about how you can collaborate in revolutionising scrap metal trading.

Using machine learning algorithms to validate scrap metal quality

At Agave Networks, machine learning algorithms are used to validate scrap metal quality. Unlike traditional methods that rely on visual inspection and personal trust-based relationships, our algorithm will analyse videos and images of ferrous metals to grade their quality accurately. This innovative approach has many benefits over traditional methods, including increased efficiency and security in trading these materials.

Here are some ways our algorithm is revolutionising scrap metal trading:

• Analysing data input through videos and images
• Grading the quality of ferrous metals accurately
• Increasing efficiency in trading these materials
• Providing more secure transactions

By participating in our grant program or using our services for validating or selling their scrap metal inventories domestically and internationally, suppliers can experience the advantages of this revolutionary technology firsthand.

Selling scrap metal using Agave Network’s services

Agave Network’s platform services provide buyers with an efficient and secure way to search, bid on and purchase recycled metals from suppliers. With our machine learning algorithms able to validate the quality of scrap metal inventories, buyers can be confident in the materials they purchase. For sellers, leveraging the network effects created by our platform provides increased domestic and international sales opportunities. By participating in our grant program and utilising our platform services, scrap yards can streamline their trading process while contributing towards a more sustainable future.

Showcasing to potential investors

Agave Networks has been awarded a £50,000 Innovate UK Grant to develop an algorithm that uses machine learning and computer vision to grade the quality of ferrous scrap metal. This will help suppliers and buyers trade these materials more easily, securely and efficiently, solving the biggest issue in scrap metal trading: validating material quality. Scrap yards can participate in this grant by providing photos and videos of their inventories as data input for our ML algorithms or use our services to validate their current stock’s quality or sell it domestically or internationally.

This grant win is sure to increase Agave Network’s reputation and awareness in the impact-driven circular economy investment community. A pre-seed funding round will open up for investors interested in revolutionising the way we trade scrap metals using cutting-edge technology starting Aug/Sept 2023.

Increasing reputation and awareness

Agave Networks is expanding its reach by partnering with prominent scrap yards, launching a social media marketing campaign, and sponsoring industry events. These efforts will increase our reputation and awareness among scrap yard owners and managers in the UK. By forming partnerships with leading players in the industry, we can further improve our machine-learning algorithms for grading the quality of ferrous metals. Our social media campaign will showcase our innovative technology to potential customers, while event sponsorships will give us a platform to network with key stakeholders in the sector.

Pre-seed funding round in Aug/Sept 2023

Agave Networks is gearing up for its pre-seed funding round in Aug/Sept 2023. We have been working tirelessly on perfecting our pitch deck, ensuring it accurately reflects the innovation and potential of our machine learning and computer vision algorithm that grades the quality of scrap ferrous metal through videos and images. Additionally, we have been attending various networking events to connect with potential investors who share our vision for revolutionising scrap metal trading. Our financial projections review has also undergone rigorous scrutiny to ensure they align with industry standards and demonstrate sound business acumen.

If you want to get involved in the project or want to learn more about the startup, please contact Daniel Byrd, the  Agave Networks CEO at [email protected] or visit their website www.agavenetworks.co 

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