View Hoboken (Belgium) plant after the facelift (early 2009).
Innovation
In our Umicore Way we are stating:
Innovation: We believe in continuously searching for better ways of doing things. We believe that innovation is the ultimate driver for long-term profitability and growth. We are open to new ideas and ready to take considered risks.
To foster Innovation we have under the umbrella of the CTO (Chief Technology Officer) organisation strong central and decentral Research and Development activities. We also have a specific Innovation process called Umagine and are converting the Knowledge gained at our Research and Development work to Innovation with an adequate Knowledge Management process. We are supporting “Open Innovation” and are awarding excellent scientific research outside Umicore in our Umicore Scientific award. Internally we are recognizing Innovation in all areas in an internal Umicore Innovation award.
Research and Development
Overall R&D expenditure was up by 12.4%, amounting to EUR 124.5 million. This represents a R&D spend of 5.8% of revenues. Of the total, EUR 10.1 million was spent at corporate level. Umicore has raised its level of patents filed from 34 in 2006 to 50 in 2007. Approximately 80% of the total expenditure is dedicated to projects in the area of clean technology. HyCore, the joint-venture with Hydro for the development and production of solar-grade silicon, is in the process of setting up its pilot plant. Efforts were also stepped up in the areas of rechargeable batteries, automotive catalysts and precious metals recycling.