Long-term development and sustainable innovation through venture capital Covestro invests in start-ups

plans to invest in start-ups in five areas
has made its first investments
covestro is an investor in start-ups: through Covestro Venture Capital, the company wants to combine the needs of start-ups in terms of financing, expertise and networking with its strategic goals to ensure long-term sustainability"We are committed to sustainability-driven innovation," explains Sucheta Govil, Covestro's chief commercial officerBy working with young companies and leveraging their technology and innovative solutions, we will be able to take a decisive step forwardThis enables us to open up new business areas while providing innovative solutions that give our customers a competitive advantageCovestro
's investment in Theof French start-up technologyCrime Science Technology (C.S.T) is the latest exampleThrough this investment, Covestro has strengthened its special film business for safe licensing and has exclusive access to optical discolored film (O.V.M®) technology for polycarbonate and polyurethane materialsThis innovative technology developed by C.S.T enables new security features and helps licenses improve anti-counterfeiting performancedeepen spending time with start-ups through Coveventure Ventures (COVeC)focusing on mature start-ups
Covestro's research and development process is always based on the United Nations Sustainable Development Goals, so these goals play a critical role in the selection of the start-ups to be investedTo this end, COVeC defines five key investment areas: bio-based raw materials and biotechnology, additive manufacturing (e.g., 3D printing), circular economy, digital technology, new markets and new technologies for existing core businessesIn selecting start-ups, Covestro focuses on companies in the A-and-B financing phases Dietrich Firnhaber, head of strategy and portfolio development at Covestro, said: "Our investment focus is clear: to help start-ups grow in the long term rather than invest in brand new businesses However, we do not rule out working with start-ups at an early stage, and we will adopt proven open innovation practices "Covestro plans to invest up to EUR 5 million in the initial financing of a single project and decide whether to participate in subsequent financing based on the circumstances of each project Financing projects must be approved by the Board of Directors Covestro has no plans to set up an independent fund for venture capital Covestro made its first venture in Germany last year
HydrogenLOHC Technologies GmbH purchased shares in the B-round financing Covestro plans to work with this young company to actively promote international hydrogen energy infrastructure and contribute to the development of alternative energy sources start-ups and businesses in the expansion phase can log on to our website to get more information about Covestro Venture capital (COVeC) and its contacts:
on Covestro: Covestro is one of the world's largest polymer producers, with sales of 12.4 billion euros in 2019 Its business focuses on the manufacture of high-tech polymer materials and the development of innovative solutions for many areas of daily life The main services areas include the automotive, construction, wood processing and furniture, electrical and electronics industries, as well as the sports and leisure, cosmetics, medical and chemical industries themselves By the end of 2019, Covestro has 30 production sites and approximately 17,200 employees worldwide (based on full-time employees) you can access
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this press release may contain forward-looking statements made by Covestro AG based on current assumptions and projections A variety of known and unknown risks, uncertainties and other factors may cause the Company's future actual operating results, financial position, developments or performance to differ materially from the estimates made herein These factors are included in Covestro's official report and can be viewed at Covestro undertakes no obligation to update these forward-looking statements or to bring them into line with future events or developments