Evonik unveils future R&D investment plans

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Specialty chemicals company Evonik plans to invest over €4bn in R&D over the next decade.

In fiscal year 2014, Evonik’s R&D spending amounted to €413m (US$444m), an increase of 5% over the previous year’s R&D expenditure of €394m (US$423m).

Ulrich Küsthardt, who was appointed chief innovation officer at Evonik earlier this year, presented a three-point plan to achieve this goal: “We must become more focused in our projects, more international in our research, and more open in our exchange of knowledge.”

The R&D pipeline consists of around 500 projects focused on several industries. Küsthardt is also pushing for the expansion of international competence centers.

Evonik already supports customers with tailored solutions developed in laboratories and pilot centers around the world. The company is also opening up to external partners and cooperating with scientists and start-ups, an effort Küsthardt plans to intensify further. This includes corporate venture capital activities, for which a budget of €100m (US$107m) has been set aside; such investments and shareholdings give Evonik insights into innovative technologies and businesses in the early development phases.

March 31, 2015

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Rachel's career in journalism began around five years ago when she started working for UKi Media & Events, having recently graduated from Coventry University where she studied the subject. Her favourite aspect of the job is interviewing industry experts, including researchers, scientists, engineers and technicians, and learning more about the ground-breaking technologies and innovations that are shaping the future of the automotive and tire industries.

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