Germany-based Covestro, a high-performance plastic sheeting manufacturer, announces that the magazine Technology Review has ranked it as one of the “50 most innovative companies” of 2017.
The company was so honored for a new, sustainable production process in which it uses plants in place of crude oil to produce a chemical.
The magazine says Covestro has successfully used plant-based raw materials to produce aniline, an important chemical compound in the chemical industry and in the company’s manufacturing processes. The plant material-biomass-is used in place of petroleum, the raw material that has generally been used.
The company was honored in the the German-language edition of the research magazine, which is published by the Massachusetts Institute of Technology and honors “groundbreaking ideas and pioneering advances.”
Covestro developed the new production process in collaboration with partners-the University of Stuttgart, the CAT Catalytic Center at RWTH Aachen University, and Bayer AG-and has confirmed its feasibility in the laboratory.
The 50 companies ranked by the magazine range from start-ups to huge multinationals such as Amazon, Alphabet Inc. (Google), Merck and Daimler.