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Global petrochemical leaders create platform for startups

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Hydrocarbon Engineering,

In December 2016, world leading companies in the field of gas processing, petrochemicals and chemicals announced their intentions to join efforts to promote the innovative development of the industry. Under the project, the startups can present their designs to 3M, AkzoNobel, BASF, The Dow Chemical Company, DuPont, Henkel, Honeywell UOP, LG Chem, Linde, SIBUR, Solvay ? Technip by applying to participate in the IQ-Chem contest.

The project aims to identify and encourage promising innovative ideas in production and application of plastics technologies, which will lead to further development and modernisation of the industry, and improved energy efficiency resulting in the development of related industries and the improvement of life quality in the society. The best startups will be offered an opportunity to cooperate with global chemical leaders.

“Society has relied on crude oil to provide fuels for more than a century, but now countless other chemical products can be made from hydrocarbons, demanding exceptional scientific innovation and technological development,” said Jim Rekoske, Vice President and Chief Technology Officer of Honeywell UOP.

According to Dr Joost Waeterloos, Scouting & Exploration Network, Ventures & Business Development of The Dow Chemical Company, “The petrochemical industry produces synthetic materials that are essential to modern life. Petrochemicals are used to create everyday and even high-tech materials found in the sports, automotive and space industries. Development and modernisation of the industry truly has the potential to improve the quality of life for all of humanity.”

“The petrochemicals industry can and must rely on the potential of open innovations to facilitate further inventions and implementation of new solutions in all major application areas, from construction and medicine to packaging and 3D printing. Thanks to the participation of international partners, IQ-CHem is now the largest global project within the industry which attracts innovative solutions and provides for their implementation into practice,” Vasily Nomokonov, Executive Director of SIBUR, noted.

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