From the Sector

Reset
15 results
20.07.2022

AkzoNobel publishes results for second quarter 2022

Akzo Nobel N.V.  publishes results for second quarter 2022

Highlights Grow & Deliver (compared with Q2 2021)

  • Revenue up 14% and 10% higher in constant currencies1, pricing up 16%
  • ROS2 at 8.7% (2021: 13.3%), resulting from lower volumes and continued raw material and freight costs inflation
  • Adjusted EBITDA at €337 million (2021: €419 million)
  • Acquisition of Grupo Orbis completed in April 2022. Intended acquisition of Kansai Paint’s business in Africa announced in June 2022. Intended acquisition of the liquid wheel coatings business of Germany-based Lankwitzer Lackfabrik GmbH announced in July 2022

Highlights Q2 2022 (compared with Q2 2021)

Akzo Nobel N.V.  publishes results for second quarter 2022

Highlights Grow & Deliver (compared with Q2 2021)

  • Revenue up 14% and 10% higher in constant currencies1, pricing up 16%
  • ROS2 at 8.7% (2021: 13.3%), resulting from lower volumes and continued raw material and freight costs inflation
  • Adjusted EBITDA at €337 million (2021: €419 million)
  • Acquisition of Grupo Orbis completed in April 2022. Intended acquisition of Kansai Paint’s business in Africa announced in June 2022. Intended acquisition of the liquid wheel coatings business of Germany-based Lankwitzer Lackfabrik GmbH announced in July 2022

Highlights Q2 2022 (compared with Q2 2021)

  • Pricing up 16%; offsetting the increase of raw material and other variable costs. Volumes 9% lower
  • Operating income at €205 million (2021: €384 million), includes €44 million negative impact from Identified items (2021: €49 million net positive impact). OPI margin 7.2% (2021: 15.3%)
  • Adjusted operating income3 at €249 million (2021: €335 million)
  • Net cash from operating activities decreased to negative €52 million (2021: positive €168 million)
  • Net income attributable to shareholders at €106 million (2021: €261 million)
  • EPS from total operations at €0.60 (2021: €1.40); adjusted EPS from continuing operations at €0.84 (2021: €1.20)
More information:
AkzoNobel Coatings
Source:

AkzoNobel

(c) AkzoNobel
13.07.2022

AkzoNobel launches tool to drive bodyshop sustainability

Bodyshops can now take advantage of the vehicle refinish industry’s first repair calculator to measure, manage and reduce carbon emissions, which has been developed by AkzoNobel.

Designed to help customers improve their carbon footprint when using the company’s premium refinish products, the CO2eRepairCalculator* is part of a new initiative which aims to encourage bodyshops to become more sustainable.

The tool is the latest digital innovation from AkzoNobel focused on making a long-lasting difference to customers. It identifies the carbon levels associated with the painting and drying process – including the energy consumed – and is linked directly to the vehicle refinishing products being used. It also provides data relating to the emission of volatile organic compounds (VOCs), therefore helping customers to understand where improvements can be made.

When using the tool, the emissions and energy consumed are calculated based on a controlled two-panel repair in a spray booth to Greenhouse Gas Protocol accounting standards. The results are presented in an online dashboard, which allows local energy prices to be factored in.

Bodyshops can now take advantage of the vehicle refinish industry’s first repair calculator to measure, manage and reduce carbon emissions, which has been developed by AkzoNobel.

Designed to help customers improve their carbon footprint when using the company’s premium refinish products, the CO2eRepairCalculator* is part of a new initiative which aims to encourage bodyshops to become more sustainable.

The tool is the latest digital innovation from AkzoNobel focused on making a long-lasting difference to customers. It identifies the carbon levels associated with the painting and drying process – including the energy consumed – and is linked directly to the vehicle refinishing products being used. It also provides data relating to the emission of volatile organic compounds (VOCs), therefore helping customers to understand where improvements can be made.

When using the tool, the emissions and energy consumed are calculated based on a controlled two-panel repair in a spray booth to Greenhouse Gas Protocol accounting standards. The results are presented in an online dashboard, which allows local energy prices to be factored in.

The launch means it will now be easier for bodyshops to take positive action in an effort to meet their sustainability and carbon reduction targets. This is becoming increasingly important, as insurance companies are putting greater pressure on preferred bodyshop partners to cut their emissions in line with supply chain ambitions that meet the UN Sustainable Development Goals.

The CO2eRepairCalculator is currently being introduced in the UK market to Sikkens customers (with Lesonal to follow shortly). It will be rolled out across markets in Europe during the next few months.

*CO2e stands for carbon dioxide and equivalent gases. The tool measures carbon dioxide (CO2) and equivalent gases such as methane (CH4) and nitrous oxide (N2O), which all fall under the term greenhouse gases (GHGs).

More information:
AkzoNobel Coatings Automotive
Source:

AkzoNobel

(c) AkzoNobel
12.07.2022

AkzoNobel announces €20 million investment and creates new jobs in France

A €20 million investment has been announced by AkzoNobel to increase and improve production at two of its sites in France. Around 30 new jobs will be created.

A total of €15 million will be spent on the company’s aerospace coatings facility in Pamiers, which was taken over following the Mapaero acquisition in 2019. Production capacity is being boosted by 50%, while the funds will also be used to reduce environmental impact and improve safety processes and working conditions.

The other €5 million will be spent on improving production flexibility at the decorative paints site in Montataire, which is one of the company’s most important manufacturing locations for wall paints in Europe.

The plans for Pamiers include the construction of two extensions, one for storage and one for cleaning and waste treatment. The project will also enable the company to relocate the production of exterior polyurethane paints for aircraft widely used in Europe from its Waukegan plant in the US.

Building work is expected to start by the end of 2023, with the new installations at both locations due to be operational in early 2025.

A €20 million investment has been announced by AkzoNobel to increase and improve production at two of its sites in France. Around 30 new jobs will be created.

A total of €15 million will be spent on the company’s aerospace coatings facility in Pamiers, which was taken over following the Mapaero acquisition in 2019. Production capacity is being boosted by 50%, while the funds will also be used to reduce environmental impact and improve safety processes and working conditions.

The other €5 million will be spent on improving production flexibility at the decorative paints site in Montataire, which is one of the company’s most important manufacturing locations for wall paints in Europe.

The plans for Pamiers include the construction of two extensions, one for storage and one for cleaning and waste treatment. The project will also enable the company to relocate the production of exterior polyurethane paints for aircraft widely used in Europe from its Waukegan plant in the US.

Building work is expected to start by the end of 2023, with the new installations at both locations due to be operational in early 2025.

AkzoNobel employs nearly 1,500 people in France and operates four production facilities, in Montataire (decorative paints), Dourdan (powder coatings), Limoges (adhesive markings) and Pamiers (aerospace coatings).

More information:
AkzoNobel Coatings aerospace
Source:

AkzoNobel

Gregoire Poux-Guillaume Gregoire Poux-Guillaume. Photo: AkzoNobel
28.06.2022

Gregoire Poux-Guillaume new CEO of AkzoNobel

AkzoNobel has announced that Gregoire Poux-Guillaume will become the company’s new Chief Executive Officer (CEO) as of November 1, 2022.

He will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end.

Gregoire (52), a French national, is an international business leader with 25 years of experience. He has a distinguished track record of building successful, profitable businesses in challenging environments, accelerating business growth and improving margins.

Previous roles include CEO of Sulzer, CEO of GE Grid Solutions (previously Alstom Grid) and Senior Managing Director of CVC Capital Partners.

AkzoNobel has announced that Gregoire Poux-Guillaume will become the company’s new Chief Executive Officer (CEO) as of November 1, 2022.

He will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end.

Gregoire (52), a French national, is an international business leader with 25 years of experience. He has a distinguished track record of building successful, profitable businesses in challenging environments, accelerating business growth and improving margins.

Previous roles include CEO of Sulzer, CEO of GE Grid Solutions (previously Alstom Grid) and Senior Managing Director of CVC Capital Partners.

More information:
AkzoNobel
Source:

AkzoNobel

(c) AkzoNobel
23.06.2022

AkzoNobel adds new capacity for water-based texture paints in China

AkzoNobel has invested in a new production line for water-based texture paints at its Songjiang site in Shanghai, China – boosting capacity for supplying more sustainable products.

The site is one of four water-based decorative paints plants in China and among the company’s largest globally. The new 2,500 square meter facility will produce Dulux products for various markets, such as interior decoration, architecture and leisure.

The coatings industry in China is expected to continue expanding, largely driven by the country’s increasing focus on energy conservation and emission reduction. The production of low VOC, water-based paints will therefore need to keep expanding to meet the demand.

Nearly €7.5 million has been invested in the Songjiang site since the start of 2021. The new production line features an advanced system which lowers VOC emissions. Other recent projects include introducing new solar energy systems and a more automated high-speed filling line.

AkzoNobel has invested in a new production line for water-based texture paints at its Songjiang site in Shanghai, China – boosting capacity for supplying more sustainable products.

The site is one of four water-based decorative paints plants in China and among the company’s largest globally. The new 2,500 square meter facility will produce Dulux products for various markets, such as interior decoration, architecture and leisure.

The coatings industry in China is expected to continue expanding, largely driven by the country’s increasing focus on energy conservation and emission reduction. The production of low VOC, water-based paints will therefore need to keep expanding to meet the demand.

Nearly €7.5 million has been invested in the Songjiang site since the start of 2021. The new production line features an advanced system which lowers VOC emissions. Other recent projects include introducing new solar energy systems and a more automated high-speed filling line.

More information:
AkzoNobel Coatings
Source:

AkzoNobel

14.06.2022

AkzoNobel updates Q2 outlook based on impact of China lockdowns

AkzoNobel has updated its Q2 outlook based on the impact of the evolving business environment, including the effect of China lockdowns and the slower start to the EMEA DIY season.

Overall demand signs for paints and coatings remain robust, with North America still constrained in raw material availability and logistics, but sequentially improving. In Europe in particular, macro-economic uncertainty related to consumer confidence has increased.

Consumer demand in the Deco DIY channels in Europe – which represent 40% of total Deco EMEA revenue – got off to a slow start in Q2, subsequently impacted by inventory reductions in the DIY channel. In June, Deco DIY channel demand improved back to 2019 levels. Despite share gains and our Deco Professional business performing as anticipated, the total Q2 operating income for our Decorative Paints segment is expected to be down by approximately €50 million versus expectations entering the second quarter.

AkzoNobel has updated its Q2 outlook based on the impact of the evolving business environment, including the effect of China lockdowns and the slower start to the EMEA DIY season.

Overall demand signs for paints and coatings remain robust, with North America still constrained in raw material availability and logistics, but sequentially improving. In Europe in particular, macro-economic uncertainty related to consumer confidence has increased.

Consumer demand in the Deco DIY channels in Europe – which represent 40% of total Deco EMEA revenue – got off to a slow start in Q2, subsequently impacted by inventory reductions in the DIY channel. In June, Deco DIY channel demand improved back to 2019 levels. Despite share gains and our Deco Professional business performing as anticipated, the total Q2 operating income for our Decorative Paints segment is expected to be down by approximately €50 million versus expectations entering the second quarter.

COVID-19 lockdowns in China during Q2 impact both paints and coatings. This impact was mainly on our coatings business, while paints was able to almost offset by progressing with its geographical expansion initiatives. The re-opening in June is showing a positive rebound, but not enough to catch up on all the missed revenue in the quarter, resulting in a negative operating income impact of approximately €40 million for the quarter, versus expectations entering Q2.

AkzoNobel continues to focus on achieving its €2 billion adjusted EBITDA target for 2023, despite the volatile market environment having a material impact on the company’s Q2 2022 financials.

More information:
AkzoNobel Coatings Covid-19
Source:

AkzoNobel

13.06.2022

AkzoNobel launches mosquito-repellent coating

People in Brazil have a new ally in the fight against an invasive carrier of dengue fever – a mosquito-repellent coating developed by AkzoNobel’s Coral brand.
 
Known as Well-being Protection Anti-Mosquito, the colorless matt varnish contains an active ingredient called permethrin. Its repellent action is specifically designed to combat the Aedes aegypti mosquito, which was largely responsible for dengue cases in Brazil surging 165% during the first few months of 2022 – according to figures from the Brazilian Ministry of Health. As well as spreading dengue, Aedes aegypti can also transmit the zika and chikungunya virus.
 
When a mosquito lands on the new transparent topcoat, the permethrin is absorbed through its feet and over-excites the insect’s nervous system, causing it to disengage or fall off. Permethrin is a well-known repellent and is commonly used in fabrics for mosquito nets and protective clothing.

People in Brazil have a new ally in the fight against an invasive carrier of dengue fever – a mosquito-repellent coating developed by AkzoNobel’s Coral brand.
 
Known as Well-being Protection Anti-Mosquito, the colorless matt varnish contains an active ingredient called permethrin. Its repellent action is specifically designed to combat the Aedes aegypti mosquito, which was largely responsible for dengue cases in Brazil surging 165% during the first few months of 2022 – according to figures from the Brazilian Ministry of Health. As well as spreading dengue, Aedes aegypti can also transmit the zika and chikungunya virus.
 
When a mosquito lands on the new transparent topcoat, the permethrin is absorbed through its feet and over-excites the insect’s nervous system, causing it to disengage or fall off. Permethrin is a well-known repellent and is commonly used in fabrics for mosquito nets and protective clothing.

The effectiveness of Well-being Protection Anti-Mosquito was tested in an independent external laboratory, certified by the Brazilian Network of Analytical Laboratories in Health. All the tests took place on painted walls and ceilings in a life-size house environment and successfully proved that mosquitoes were repelled from the room after contact, with the active ingredient being retained in the varnish matrix.

Source:

AkzoNobel

AkzoNobel acquires African paints and coatings activities from Kansai Paint (c) AkzoNobel
01.06.2022

AkzoNobel acquires African paints and coatings activities from Kansai Paint

AkzoNobel is to further strengthen its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023.
 
Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million. The transaction includes the Plascon brand, which has more than 100 years of heritage in South Africa. Together with our own Dulux brand, they’re the longest-established paint brands in the region. The intended acquisition also includes automotive and protective coatings, and coatings for wood and coil.
 
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” says AkzoNobel CEO, Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”
 

AkzoNobel is to further strengthen its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023.
 
Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million. The transaction includes the Plascon brand, which has more than 100 years of heritage in South Africa. Together with our own Dulux brand, they’re the longest-established paint brands in the region. The intended acquisition also includes automotive and protective coatings, and coatings for wood and coil.
 
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” says AkzoNobel CEO, Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”
 
Adds Kunishi Mori, Kansai Paint’s president: “We are convinced that AkzoNobel is the best owner as AkzoNobel considers the decorative paints business as a core business and will therefore be able to unlock the full potential of the business, thereby contributing to the development of the African economy.
 
”For Prejay Lalla and Arvind Shekhawat, Chief Executive Officers of KPAL and KPEA (the respective Africa entities being sold by Kansai Paint in this transaction), this agreement is an opportunity to further enhance growth. “We believe that AkzoNobel will be the owner who will elevate the business to the next level as AkzoNobel is willing to invest in ESG, is committed to innovation, workforce development and broader career opportunities as well as the long-term success of its paint businesses in Africa.”
 
The intended acquisition follows on from a series of recent acquisitions by AkzoNobel across paints and coatings over the last two years, including Titan Paints in Spain and Portugal, New Nautical Coatings in the US and, most recently, Grupo Orbis in Latin America.

More information:
AkzoNobel Coatings Automotive
Source:

AkzoNobel

(c) AkzoNobel
19.05.2022

AkzoNobel and partners team up to hack carbon reduction challenges

A boundary-pushing approach to hacking carbon reduction challenges has been established by AkzoNobel and partners from across the extended value chain following the company’s first ever global Collaborative Sustainability Challenge.

During 24 hours of intense discussion at the pioneering event a series of high impact exploration teams was set up. Those involved will now continue to work together in a determined effort to collectively accelerate the reduction of carbon emissions in the paints and coatings industry.

The participants – represented by senior and next generation leaders – hacked four key areas: energy transition, process efficiency, solvent emissions and circular solutions. It resulted in 27 partners signing up, including suppliers, customers and end-users, as well as representatives from finance, government, service providers and consultancies.

A boundary-pushing approach to hacking carbon reduction challenges has been established by AkzoNobel and partners from across the extended value chain following the company’s first ever global Collaborative Sustainability Challenge.

During 24 hours of intense discussion at the pioneering event a series of high impact exploration teams was set up. Those involved will now continue to work together in a determined effort to collectively accelerate the reduction of carbon emissions in the paints and coatings industry.

The participants – represented by senior and next generation leaders – hacked four key areas: energy transition, process efficiency, solvent emissions and circular solutions. It resulted in 27 partners signing up, including suppliers, customers and end-users, as well as representatives from finance, government, service providers and consultancies.

AkzoNobel has set science-based sustainability targets to halve its carbon emissions across the full value chain by 2030. Achieving that ambition will rely heavily on collaborating with partners and challenging each other to find innovative ways to overcome the unprecedented challenges everyone faces.

Source:

AkzoNobel

22.04.2022

AkzoNobel shareholders approve final dividend at Annual General Meeting

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

More information:
AkzoNobel general meeting
Source:

AkzoNobel

22.04.2022

AkzoNobel completes acquisition of Colombia-based coatings company Grupo Orbis

Akzo Nobel N.V. has completed the acquisition of Colombia-based paints and coatings company Grupo Orbis, strengthening its long-term position in Latin America.

Present in ten countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenue of around €360 million. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paints and related product distribution services) and Centro de Servicios Mundial (shared services center).

The Pintuco portfolio consists of 75% decorative paints and 25% coatings, offering a wide range of products across ten countries, creating several opportunities for revenue synergies.

Akzo Nobel N.V. has completed the acquisition of Colombia-based paints and coatings company Grupo Orbis, strengthening its long-term position in Latin America.

Present in ten countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenue of around €360 million. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paints and related product distribution services) and Centro de Servicios Mundial (shared services center).

The Pintuco portfolio consists of 75% decorative paints and 25% coatings, offering a wide range of products across ten countries, creating several opportunities for revenue synergies.

More information:
AkzoNobel Coatings
Source:

AkzoNobel

21.04.2022

AkzoNobel publishes results for first quarter 2022

Highlights Grow & Deliver (compared with Q1 2021)

  • Revenue up 12% and 10% higher in constant currencies1, driven by strong pricing (up 17%)
  • ROS2 at 9.1% (2021: 13.6%), resulting from continued raw material and freight costs inflation and supply constraints
  • Adjusted EBITDA at €317 million (2021: €391 million)

Highlights Q1 2022 (compared with Q1 2021)

Highlights Grow & Deliver (compared with Q1 2021)

  • Revenue up 12% and 10% higher in constant currencies1, driven by strong pricing (up 17%)
  • ROS2 at 9.1% (2021: 13.6%), resulting from continued raw material and freight costs inflation and supply constraints
  • Adjusted EBITDA at €317 million (2021: €391 million)

Highlights Q1 2022 (compared with Q1 2021)

  • Pricing initiatives more than offset the increase of raw material and other variable costs (including freight), which combined increased €334 million compared with Q1 2021. Volumes 7% lower
  • Operating income at €232 million (2021: €303 million), includes €2 million net positive impact from identified items (2021: €4 million net negative impact). OPI margin 9.2% (2021: 13.4%)
  • Adjusted operating income3 at €230 million (2021: €307 million)
  • Net cash from operating activities decreased to negative €102 million (2021: negative €31 million)
  • Net income attributable to shareholders at €154 million (2021: €217 million)
  • EPS from total operations at €0.87 (2021: €1.15); adjusted EPS from continuing operations at €0.86 (2021: €1.18)

1 Constant currencies calculations exclude the impact of changes in foreign exchange rates
2 Return on sales (ROS) is adjusted operating income as percentage of revenue
3 Adjusted operating income = operating income excluding identified items

 

See attached document for full report.

More information:
AkzoNobel financial year 2022
Source:

AkzoNobel

AkzoNobel launches 24-hour challenge to unite partners and tackle climate change (c) AkzoNobel
07.04.2022

AkzoNobel launches 24-hour challenge to unite partners and tackle climate change

A initiative designed to collectively accelerate carbon reduction in the paints and coatings industry has been launched by AkzoNobel.

The company has invited partners from across the value chain to take part in its Collaborative Sustainability Challenge – a new Paint the Future initiative which aims to develop a shared approach to tackling climate change.

Due to be staged in May, the 24-hour event will involve senior executives and next generation leaders from a select group of partners – including suppliers and customers – who will engage in open discussions in a non-confidential environment.

During the event, participants will deep-dive into the following areas:

A initiative designed to collectively accelerate carbon reduction in the paints and coatings industry has been launched by AkzoNobel.

The company has invited partners from across the value chain to take part in its Collaborative Sustainability Challenge – a new Paint the Future initiative which aims to develop a shared approach to tackling climate change.

Due to be staged in May, the 24-hour event will involve senior executives and next generation leaders from a select group of partners – including suppliers and customers – who will engage in open discussions in a non-confidential environment.

During the event, participants will deep-dive into the following areas:

  • Energy transition – Inspire partners towards decarbonizing processes and transitioning to renewable energy sources
  • Process efficiency – Increase the efficiency of material use and reduce the energy required for applying and curing paints and coatings
  • Solvent emissions – Reduce the number of solvents emitted throughout our entire value chain
  • Circular solutions – Increase the use of circular solutions in paints and coatings, both upstream and downstream

The forthcoming Collaborative Sustainability Challenge will build on the success of Paint the Future, which has already established a collaborative innovation ecosystem with startups, suppliers, academia and customers.

AkzoNobel’s Collaborative Sustainability Challenge is scheduled to take place in Amsterdam, the Netherlands, between May 17 and 18, 2022.

Source:

AkzoNobel

28.03.2022

Startups and AkzoNobel sign letters of intent for joint collaboration

Less than 24 hours after winning Paint the Future awards, three startups have already signed their letters of intent to continue working together on sustainable business opportunities with AkzoNobel.

It’s the next step of a continuing collaborative innovation journey. The startups had the opportunity to explore their solutions with their mentors and industry experts through each phase of the global startup challenge, including an intense three-day bootcamp. Now having signed the letters of intent, they will develop their solutions even further with AkzoNobel.

“The winning startups are joining our go-to-market acceleration program, connecting them to a global network of people and resources,” says Menno van der Zalm, Director of the AkzoNobel Incubator. “Over the next six months, we’ll work together to validate their solutions for our customers and develop a joint value case.”

The following three solutions won over the international jury of experts and business leaders:

Less than 24 hours after winning Paint the Future awards, three startups have already signed their letters of intent to continue working together on sustainable business opportunities with AkzoNobel.

It’s the next step of a continuing collaborative innovation journey. The startups had the opportunity to explore their solutions with their mentors and industry experts through each phase of the global startup challenge, including an intense three-day bootcamp. Now having signed the letters of intent, they will develop their solutions even further with AkzoNobel.

“The winning startups are joining our go-to-market acceleration program, connecting them to a global network of people and resources,” says Menno van der Zalm, Director of the AkzoNobel Incubator. “Over the next six months, we’ll work together to validate their solutions for our customers and develop a joint value case.”

The following three solutions won over the international jury of experts and business leaders:

  • Winner: SolCold
    The solution from Israeli startup SolCold is a sustainable self-cooling coating based on anti-Stokes. It uses the sun’s energy to keep the inside temperature much cooler without having to use any electricity.
  • Winner: Aerones
    Latvian startup Aerones brings a robotic solution to wind turbine maintenance. Their crawling robot allows technicians to safely and efficiently perform inspections, cleaning and repairs at height.
  • Winner: SprayVision
    From the Czech Republic, SprayVision brings a data-driven approach to optimizing spray application of paint, offering customers full control over the process. The solution helps to reduce environmental impact by saving material and improving quality.
Source:

AkzoNobel

Three Startups receive the Paint the Future award from AkzoNobel (c) AkzoNobel
24.03.2022

Three Startups receive the Paint the Future award from AkzoNobel

The three winners of the Paint the Future global startup challenge are all set to accelerate their innovative solutions for the paints and coatings industry. Following an intense three-day bootcamp, these startups were selected by an international jury to continue working with AkzoNobel on sustainable business opportunities.
 
These are the three winners of the Paint the Future global startup challenge:

  • SolCold (Israel) - Sustainable self-cooling coating based on anti-Stokes
  • Aerones (Latvia) - Robotics for wind turbine maintenance
  • SprayVision (Czech Republic) - Data-driven approach to optimal spray application of paint

“Through Paint the Future, we’re bringing innovation and sustainability together as a key driver of our business,” says Thierry Vanlancker, AkzoNobel CEO. “In our ecosystem, we collaborate with startups, suppliers, customers and academia around exciting solutions that will ensure a more sustainable future.”

The three winners of the Paint the Future global startup challenge are all set to accelerate their innovative solutions for the paints and coatings industry. Following an intense three-day bootcamp, these startups were selected by an international jury to continue working with AkzoNobel on sustainable business opportunities.
 
These are the three winners of the Paint the Future global startup challenge:

  • SolCold (Israel) - Sustainable self-cooling coating based on anti-Stokes
  • Aerones (Latvia) - Robotics for wind turbine maintenance
  • SprayVision (Czech Republic) - Data-driven approach to optimal spray application of paint

“Through Paint the Future, we’re bringing innovation and sustainability together as a key driver of our business,” says Thierry Vanlancker, AkzoNobel CEO. “In our ecosystem, we collaborate with startups, suppliers, customers and academia around exciting solutions that will ensure a more sustainable future.”

Paint the Future startup challenges are designed to connect startups with industry knowledge and expertise to help accelerate their solutions in the paints and coatings industry. This Paint the Future global startup challenge launched May 18, 2021, attracting 245 submissions from 62 countries. Ten finalists were invited to Amsterdam to participate in the bootcamp program.
 
This is AkzoNobel’s second global startup challenge, following its industry-first predecessor in 2019. Regional startup challenges have since been held in Brazil (2020), China (2021), and most recently in India (2022).

More information:
AkzoNobel Sustainability Coatings
Source:

AkzoNobel