March 17, 2017
Open innovation initiative will lead to new commercial opportunities for chemicals business
An enthusiastic response to AkzoNobel's Imagine Chemistry initiative has resulted in more than 200 innovative ideas being submitted by chemistry start-ups, scientists, research groups and students around the world.
Developed in conjunction with KPMG, Imagine Chemistry was launched to help solve real-life chemistry-related challenges - such as finding ways to revolutionize plastics recycling - as well as uncovering sustainable opportunities for AkzoNobel's Specialty Chemicals businesses.
From the 200 submissions received, AkzoNobel will now select 20 finalists to attend a three-day event in June at the company's principal research facility in Deventer, the Netherlands.
"We have been very impressed by the number and quality of the submissions," said Thierry Vanlancker, AkzoNobel's Executive Committee member responsible for Specialty Chemicals. "This confirms our belief that there is tremendous potential even in mature chemistries. We are looking forward to working with the eventual winners to scale up their ideas and turn them into a commercial reality with real global impact."
The Imagine Chemistry challenge is focused on finding solutions in five areas:
- Revolutionizing plastics recycling
- Waste water-free chemical sites
- Cellulose-based alternatives to synthetics
- Bio-based and biodegradable surfactants and thickeners
- Bio-based sources of ethylene
There are also "open challenges" for broad ideas in two further areas: Highly reactive chemistry and technology; and sustainable alternatives to current technologies.
The challenge is part of an integrated approach to further deploy AkzoNobel's innovation capability in support of its growth ambitions. "We put innovation and sustainability at the heart of everything we do," added Vanlancker. "Our strategic ambition is to deliver a world-beating product portfolio across all our markets, building on collaborative and open innovation."
Recent innovations from AkzoNobel's Specialty Chemicals business include Bolikel XP, a next generation, biodegradable micronutrient to efficiently combat iron deficiency in crops; and Berol DR-B1, a safe and sustainable surfactant for consumer and commercial cleaning applications that involve direct release.
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AkzoNobel creates everyday essentials to make people's lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, we supply essential ingredients, essential protection and essential color to industries and consumers worldwide. Backed by a pioneering heritage, our innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier. Headquartered in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as a leader in sustainability, we are dedicated to energizing cities and communities while creating a protected, colorful world where life is improved by what we do.
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