BASF is focusing its R&D and innovations
For 2012 BASF (German Chemical Company) plans to increase its R&D spending to EUR 1.7 (EUR 1.6) billion and is realigning the efforts to even better serve the markets and the global customer industries
It places its emphasis on growth and technology fields addressing social challenges and promising business potential. By 2020 BASF wants to achieve a turnover of around EUR 30 billion with products not on the market for more than ten years. Promising new fields of activities are for instance heat management, water treatment and organic electronics. The research platforms were focused, Process Research & Chemical Engineering will concentrate on new technologies, processes and catalysis. The topics crop protection, organic electronics and white biotechnology will be the focus of Biological & Effect Systems research whereas Advanced Materials and Systems Research will concentrate on new polymeric materials and system solutions and Plant Science on plant technology. BASF Future Business opens new business areas for the company and will be extended. It is responsible for developing and marketing business areas for BASF, and its main focus is energy management, organic electronics and medical solutions. Finally BASF Venture Capital (subsidiary of BASF) is investing in start-up companies specialising in innovative chemistry and system solutions and serves BASF’s future growth and technology fields. It just invested USD 2,7 million in the technology company FRX Polymers, Inc. Chelmsford (USA).
More details can be had from the following website.