Forward-Thinking Companies Look to Green Innovation
Over the weekend, in observation of Earth Day (celebrated globally in more than 175 countries), a flurry of articles and blog posts heralded eco-friendly innovation and green innovations ‘to watch’. However, many articles rightly pointed out the amount of lip service companies give to sustainability far exceeds the number of committed sustainability programs. One such article pointed out that, despite all the green talk, ‘green innovations’ only make up 3% of global patents registered – one measure of innovation progress – and that companies being celebrated as top innovators (i.e. Apple) are far from tops when it comes to being ‘green’.
While the progress is not as rapid as one would hope, in the race to market leadership and differentiation, the green movement is slowly shifting from marketing hype to the reality of delivering cost-effective products that meet regulatory compliance and customer demand. And, this shift is creating a host of engineering challenges for companies around the world – from the high cost of designing new technologies and material replacements to addressing the varying regulations in different countries to measuring early returns on green innovation.
Invention Machine is working with leading companies across industries to help them develop products and processes that:
- Reduce / Reuse Green House Gases (GHG)
- Reduce Energy Consumption
- Reuse Resources
- Use Eco-Friendly Materials
- Reduce Product Size & Weight
- Incorporate Smart Systems / Intelligent Materials
- Save Scarce Resources like Water
From new product development and alternative energy programs to effectively addressing emission and waste control, Goldfire helps companies go green.
Sample projects include:
- Magnet created Siphon Flush. The toilet valve can save more than 11 million gallons of wasted water a day. Magnet credits Goldfire with accelerating time-to-market by 30 percent, cutting development costs by 65 percent. And, the Siphon Flush has 50 percent fewer parts than traditional toilet valves, making it eco-friendly.
- A $10B convenient foods company discovered corn-oil replacement.
- Shell developed next generation biofuel production methods leveraging sea algae.
- Leggett & Platt patented and developed a Semi-fold Box Spring that delivers Green impact to logistics (small compact units, when folded, are easier to ship resulting in more units per shipment, lower transportation costs, and a lower carbon footprint).
- Diversey, a $3 billion specialty cleaning solutions company, is responding to the market’s demand for sustainable offerings by using Invention Machine’s Goldfire software. One such offering at Diversey resulted in a sustainable and biodegradable intelligent dispensing system that generated tens of millions of dollars in revenue and continues to drive double digits growth over the last five years.
In recent weeks, the OECD has called for policies to encourage innovation to tackle the urgent and potentially catastrophic environmental challenges we face between now and 2050.
Sustainability must become a key driver of innovation. Invention Machine can help. Contact us today to learn more.