ZrCoin, a project to produce zirconium dioxide, was granted a permission by the administration of the city of Magnitogorsk to commence construction. The work will begin soon.
ZrCoin is an amazing project for producing ‘Green Zirconium‘ from waste materials. It includes experienced materials scientists who developed a process for recovering zirconium dioxide (ZrO2) from waste materials, as the current process (widely used) is harmful for the environment.
The crowdfunding, which was live from May 11th to June 9th, was completed successfully. The project has raised $7.07 million in cryptocurrency and US Dollars from 3,955 investors. 
The funds will allow the launch of two synthetic zirconium production lines with a total capacity of 800 tons per month. ZrCoin tokens, which are hosted on the Waves blockchain platform, can be transferred and traded on crypto exchanges.
The news created a positive reaction of the market.
