Open Innovation
Internal Collaboration
Indorama Ventures strives to develop an organizational culture that continually supports and promotes innovation and talent, and which provides an environment that encourages creativity, risk taking and learning. Through empowered teams, our employees are encouraged to share ideas and rapidly translate concepts to prototypes for evaluation.
As a global company, we have defined innovation, and research and development as crucial topics for our strategy meetings. Every year, senior executives and staff from around the world who are involved in innovation are invited to participate in the meeting to discuss development strategies and how best to respond to market competition. We focus on strategic planning to increase product development, improve customer relationships, and encourage sustainable operations.
We use Lean Six Sigma in our organization to improve operational efficiencies and are now leveraging Design for Six Sigma (DFSS) fundamentals to benefit our innovation process.
Within Indorama Ventures, Six Sigma serves as an important competency with respect to our operations. By including elements of design for Six Sigma, we can introduce the fundamentals, and predictive tools and capabilities to implement quality into the system as part of our innovation process.
Vitality Index
(means revenue generated from the sale of products developed during the last five years)
Fibers Business
2023 Performance
Actual = 18.0%
Combined PET Business
2023 Performance
Actual = 27.3%
Indovinya Business
2023 Performance
Actual = 17.7%
| Type of Collaboration | Initiatives in 2023 | Impacts Achieved in 2023 |
|---|---|---|
| Internal Collaboration |
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| External Collaboration |
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World’s First Sustainable Monolayer PET Sparkling Wine Bottle
In 2023, the world’s first sustainable monolayer PET sparkling wine bottle was introduced through a collaboration involving SIPA’s Packaging Development Team and made from Indorama Ventures bottle resin and OxyClear® barrier. The new bottle was awarded top prize in the 2023 Best Packaging contest at Milan Design Week. The bottle offers the same look, functionality, and feel as a traditional glass sparkling wine bottle.
A Solution for Sustainable Car Seat Foams
Auraloop, a new sustainable and innovative solution from Faurecia and Indorama Ventures, is based on 100% recyclable polyester, designed to replace traditional car seat foams. This new material will allow for a twofold reduction in the carbon footprint of car seat pad solutions compared to current materials. It not only meets the dynamic new market for car seats with improved performance and comfort, but also embraces sustainability by integrating materials that combine comfort with the circular economy into future vehicles
Indorama Ventures - Indovinya Wins The Kurt Politzer Technology Award
Sustainable Innovation with OXISENSE® H 1000 To develop cleaning products, one must consider the challenge of using ingredients that guarantee a stable system, which is often achieved through hydrotropes. Although they are very efficient, the most commonly used type of ingredient has been Sodium Xylene Sulfonate (SXS), made from fossil and aromatic sources, and its use has been linked to the emergence of certain cancers. Through our global business segment, Indovinya, we invested in the development of OXISENSE® H 1000, a plant-based hydrotrope that is 100% renewable. This hydrotrope allows for cold processing, generating energy savings while also being free of phosphates and any other phosphorus derivative, which prevents the eutrophication of water bodies such as rivers and lakes. Furthermore, 100% of this product’s ingredients are active, allowing it to be supplied in smaller packaging, reducing the consumption of packaging materials such as plastic, thus ensuring a more sustainable production process, meeting marketing, environmental, and social demands.
Surfom® 9115 – A Potent Solution for Managing Water Scarcity in Soil
Soil health is a significant concern in modern agricultural practices, including adopting improved agronomic practices, using lower volumes of more efficient crop protection products, and directly managing the soil.
Introduced in 2023, SURFOM® 9115 not only helps farmers overcome drought periods but also reduces water consumption in irrigated areas. It is biodegradable and biocompatible, enhancing water penetration in hydrophobic soils, improving horizontal water distribution in the soil profile, and retaining water near the roots for longer periods.
Available from 2024, SURFOM® 5015 with Renewable EO has great potential for reducing value chain emissions – especially our customers’ Scope 3 emissions. The product also has a blend, SURFOM® 8963, that works as a high-load herbicide formulation, allowing reductions in dosage in the field and in packaging usage. This represents a reduction of 40.2% of CO2 e emissions in logistics and reverse logistics in the agro chain.
LICENSING COLLABORATION FOR INNOVATION
This year, IVL entered into a license agreement with Shandong Binhua New Material Co., Ltd. To build and operate a co-production unit in China for Propylene Oxide (PO), t-Butanol (TBA), and Methyl t-Butyl Ether (MTBE). At the core of this project is IVL’s world-leading and innovative MTBE ‘single-step’ reaction technology, which simplifies the production process, thereby reducing operating costs while increasing MTBE yield.
SOCIAL INNOVATION AND ENTREPRENEURSHIP CHALLENGE
In early 2022, we launched the Challenge, inviting companies, universities, associations, research institutes, and startups to propose innovative solutions that mitigate the social challenges faced by communities near our operations and support local development through sustainable, creative and efficient projects.
