Groups, made up of three or more people, must develop prototypes that allow the reuse of waste euro banknotes that do not meet the requirements to remain in circulation.
O will launch, on November 25th, the “Let’s give banknotes a second life” competition, which aims to reuse waste euro banknotes that cannot be circulated.
“The aim is to encourage and involve society in the development of prototypes that allow the reuse of waste euro banknotes that do not meet the quality requirements to remain in circulation”, read a statement.
Em the bank also reveals that, with this initiative, it seeks to “alternative solutions to incinerationwhich are environmentally sustainable and generate value”.
Applications must be submitted by groups of three or more elements, and may count on the collaboration of companies “with relevant activities for carrying out the project”.
For the development of prototypes of the three best projects presented, Banco de Portugal will award a maximum value of €10,000 per project and, additionally, €5,000 to the application that presents the winning prototype.
To apply, groups must fill out the form available on the Banco do Portugal website by 11:59 pm on February 14, 2025. The announcement of the winning project and the award will take place by the end of next year.
