Page 153 - CW E-Magazine (1-10-2024)

News from Abroad

INNOVATION STRATEGY
Evonik’s new sustainability-focussed research

strategy to add €1.5-bn in sales

German speciality chemicals com- achieved, for example, through advanced
pany, Evonik, has unveiled a new inno- catalyst recycling and solutions to im-
vation strategy, with enhanced focus on prove the recycling of polyurethane or
sustainability. To this end, it is bundling rubber. “R&D is already make an over-
a large proportion of its R&D activities riding contribution to our growth. This
in three new innovation growth areas of trend will continue with these new growth
bio-based solutions, the energy transi- areas,” said Dr. Marquardt. The new inno-
tion, and the circular economy. vation growth areas are therefore building
such as rhamnolipids. Evonik inaugurated on the success of Evonik’s previous inno-
The company expects to these the world’s first industrial-scale plant for vation growth fields, which were selected
activities – termed as ‘Advance Precision the production of this new class of biosur- in 2015. The aim was to achieve additional
Biosolutions’, ‘Accelerate Energy Tran- factants in Slovakia in May. At the same sales of €1-bn within ten years with, for
sition’ and ‘Enable Circular Economy’ time, the company is driving forward the example, sustainable solutions for health,
innovation growth area – to generate development of rhamnolipids for other cosmetics, and additive manufacturing.
additional sales of €1.5-bn by 2032, com- areas of application. The ‘Accelerate In 2023, that figure was already above
pared with 2023. “Our new innovation Energy Transition’ innovation growth area €650-mn.
strategy shows how sustainable products brings together contributions to the energy
and solutions will be supporting Evonik’s transition. These include, for instance, “Given the turbulence of recent years,
future growth even more strongly, solutions to capture carbon dioxide from that is a good performance, which we
and, at the same time, reducing our the exhaust gases from processes or directly can build on in the future,” remarked
customers’ ecological footprint,” said from the air. Moreover, in Schörfling Dr. Schwager. “A global pandemic, an in-
Mr. Harald Schwager, Deputy Chairman (Austria), Evonik produces membranes vasion within Europe – those were events
of Evonik’s executive board. that can be used to purify biomethane no-one foresaw nine years ago. That we came
and other gases. This facility was initially so close to our goal despite such unprece-
“The three new innovation growth extended in 2023 and a further extension dented challenges shows that we focused
areas address the most relevant sustain- is already under construction. The com- on the right topics,” he added. In 2023,
ability trends for our businesses,” noted pany is also researching other membrane Evonik held research and development ex-
Evonik’s chief innovation officer, solutions, for example, for the production penses at the previous year’s level of €443-mn,
Dr. Ralph Marquardt. In the ‘Advance of hydrogen. The ‘Enable Circular Eco- despite the challenging economic situa-
Precision Biosolutions’ innovation growth nomy’ innovation growth area combines tion. The majority was spent on research
area, Evonik scientists are using biotech- all Evonik research projects for a modern for the chemical production divisions,
nology to develop solutions that improve circular economy. The aim is to help close while a smaller proportion was channelled
people’s health and quality of life, save material cycles. In this way, the company to Creavis, Evonik’s strategic research unit
energy and resources, or protect ecosys- is paving the way for its customers to and business incubator. Relative to sales,
tems. They include modern biosurfactants move towards circularity. That can be the R&D ratio was 2.9% in 2023.
SABIC sells stake in Bahrain’s aluminium maker

SABIC is selling its 20.62% share- regulatory approval. This capital will opportunities, and to be the preferred world
holding in Aluminum Bahrain (Alba) be used to fuel’s SABIC growth in the leader in chemicals,” SABIC said. This
to Saudi Arabian Mining Company chemicals space. move aligns with state-owned Ma’aden’s
(Ma’aden). strategy to grow its operations tenfold
“This transaction is in line with the by 2040, with aluminium playing a
SABIC expects proceeds of company’s priorities of optimising its crucial role. The deal comes on the heels
$963.25-mn to $1.06-bn from the sale, portfolio and focusing on its core busi- of Ma’aden’s non-binding deal explo-
which is contingent on the fulfilment ness to drive improved returns and re- ring the combination of its aluminium
of standard closing conditions such as allocate capital towards higher margin operations with Alba.

Chemical Weekly October 1, 2024 153

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