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Friday - May 17, 2019

Covestro supports Carbon Footprint Challenge 2019

Ideas for climate protection

Open innovation challenge for students and young professionals / Best ideas to fight climate change will be rewarded
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Carbon Footprint Challenge

A good idea can be the starting point of great change. For the second year in a row, Covestro is a partner of the global Carbon Footprint Challenge, an international business idea competition supported by leading global companies from different industries such as Bühler, Evonik and Oracle as well as by nine top European universities connected to the Unitech network. The challenge invites students and young professionals from all over the world to share ideas to fight climate change on an open innovation online platform.

“The chemical industry in particular needs to become even more sustainable and is looking for fresh ideas. We don’t develop them on our own – therefore, we rely on the best minds bringing in open-mindedness and ingenuity”, says Dr. Markus Steilemann, CEO of Covestro.

Challenge for teams
Until July, the online innovation portal carbonfootprintchallenge.org is open for individuals and teams contributing ideas that can decrease carbon footprint of manufacturing, industrial processes as well as for products throughout their entire value chain. There is no need to deliver fully elaborated business plans or ready prototypes. Fields of interest are among others process efficiency, sustainable energy sources and raw materials as well as carbon sequestration technologies.

In summer follows the second stage of the challenge when the ideas will be developed and shaped for their future markets and applications. The innovation platform enables interaction between the teams and the community with support from the industry partners and the leading European universities.

On 6th and 7th September, the Carbon Footprint Challenge invites the top five teams to Zurich, Switzerland, for a pitch in front of the jury. The winning team will be rewarded with up to CHF 10,000 to support the realization of the idea.

“Again and again, the Carbon Footprint Challenge brings a broad diversity of people, ideas and energies together to address the key issue of our times,” says David Ward, Secretary General of Unitech International. Last year, the finalists’ ideas of the Carbon Footprint Challenge ranged from new fiber materials made from coconuts to power and freshwater systems for small islands. Registrations and teams were seen from 80 countries, making the Carbon Footprint Challenge truly global, putting light on challenges and oppurtunities from all over the world.

About Carbon Footprint Challenge:
The Carbon Footprint challenge is an initiative with its roots in Unitech International. In the multi stakeholder environment created by the Unitech network, the Carbon Footprint Challenge initiative was born in order to use the platform to take action in a topic of such high importance, climate change.

Find more information at carbonfootprintchallenge.org

About Unitech International:
The Unitech International Society was founded in 2000 for the academic and corporate worlds to jointly develop a group of talented young engineers to enable them to successfully manage future challenges in global industry and to help bridge the gap between the corporate and academic world. Unitech also provides a platform for networking and exchange of ideas.

Find more information at www.unitech-international.org/about-the-unitech

About Covestro:
With 2018 sales of EUR 14.6 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 16,800 people (calculated as full-time equivalents) at the end of 2018.

Find more information at www.covestro.com.
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Forward-looking statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.