The Power of Partnership
At SABIC, we deliver practical, sustainable solutions that help solve some of the world’s most pressing issues – from inadequate food supplies, to the fuel efficiency of everyday vehicles.
Our efforts drive major industry developments through the application of advanced technologies. But, as recent times have demonstrated, finding solutions to global problems cannot be achieved in silos – it requires collaboration.
For over four decades, SABIC has built a culture of partnerships which has supported the delivery of innovative products and services. These partnerships have increasingly enabled us to harness transformative new technologies to differentiate our brand, future-proof our business and meet the needs of our customers.
Our willingness to work in partnership with others has provided us with unique opportunities to invest in and benefit from cutting-edge innovations.
TECHNOLOGY & INNOVATION
At SABIC, we always look forward, which is why we invest heavily in Technology and Innovation (T&I). With over 1,600 T&I employees working on various research projects at 20 centers around the world, our strategy focuses on achieving growth by advancing SABIC’s manufacturing capabilities, as well as creating new technologies and product solutions for customers.
At SABIC, T&I leads the development of a portfolio of ground-breaking innovations, which increase our customers’ access to sustainable materials – while improving efficiencies and reducing environmental impact across industries.
Over the years, the differentiation of the SABIC brand and the value of our offering has benefited significantly from partnering with innovative businesses who share our vision for a better world.
This need for collaboration inspired the establishment of SABIC Ventures – which is the venture capital arm of our business and an integral part of our T&I Strategy.
SABIC Ventures partners with innovative technology start-ups to build businesses through a supportive development cycle – taking innovative ideas from conception to offering. Since its establishment in 2011, we have invested in over 40 companies, which has resulted in the commercialization of transformative solutions.
The value that SABIC Ventures delivers for SABIC’s business is significant, as collaboration with companies at the cutting edge of emerging mega trends can be an essential part of solutions development. We have seen this added value when delivering advanced solutions across industries including automotive, packaging, energy efficiency and agri-nutrients, among others.
Presently, SABIC Ventures is strengthening its technology ventures footprint in Europe, North America and China, as illustrated by new investment deals over the past few years. In 2020, we made a significant investment in VOID Technology Ltd., the UK based creator of VO+, a technology designed to make plastics lighter, stronger, and more sustainable. Over the same period, we entered an investment round to form a partnership with NewLeaf Symbiotics, a U.S. Agri-tech company that has developed and commercialised plant microbes for crop husbandry – an innovation that is contributing to a more sustainable vision for the future of global farming.
In 2018, we also invested in Prismlab, a leading provider of 3D printing equipment and solutions in China. This trailblazing technology uses innovative additive manufacturing (AM) to 3D print large and stable components, such as medical braces and anatomical models, for the first time.
We also selectively engage with funds to expand our access to regional innovation ecosystems. Of note are our collaboration efforts with Zurich based Emerald Ventures and China based CM Venture Capital.
At SABIC, sustainability and innovation go hand-in-hand. We incorporate sustainability into every new collaboration. As examples, we work with our partners in the polymer space to reduce polymer quantities in food packaging, while also engaging in collaborations that shift our Agri-Nutrients portfolio away from urea-based fertilizers – and towards microbial and natural fixation.
As our partnerships with innovative enterprises continue supporting our growth and development, our search for new collaborators is increasingly sustainability focused. Our priorities are increasingly focused on emerging energy efficient and carbon neutral technologies, renewable power sources, and waste management.
Our focus on sustainability influences our due diligence process when forming new partnerships, emphasizing its importance from the beginning. Complementing this, our SABIC Product Stewardship team also plays an important role in approving each investment deal on the grounds of sustainability compliance and safe and sustainable chemicals.
The strategic partnerships facilitated by SABIC Ventures enable our global organisation to stay at the forefront of developing sustainable solutions. We understand our customers’ industries and challenges, developing insights into tangible solutions that address their needs.
By combining sustainability, technology, and innovation, we create long-lasting value for our business, and those that we serve.