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    Breaking News

    Evonik Venture Capital Invests in East Coast U.S. Fund to Access New Technologies

    Fund investment enables access to regional disruptive technologies in Evonik growth engines.

    Evonik Venture Capital Invests in East Coast U.S. Fund to Access New Technologies
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    • PMR: Exterior Applications Accounts for over 3/4th of Global Demand for Aerospace Coatings
    07.29.19
    Evonik is extending its corporate venture capital activities in the U.S. with an investment into Tech Council Ventures II. Evonik is investing a single-digit million U.S. dollar amount. Tech Council Ventures is a U.S.-focused early-stage investor. It finances young, innovative start-up companies and actively supports them with their extended network in the Mid-Atlantic region on the east coast of the U.S.

    The fund is based in New Brunswick, New Jersey, near Evonik’s U.S. headquarters in Parsippany and will enable access to a local network of technology start-ups including academia and industry. The Mid-Atlantic States of New Jersey, Pennsylvania, Delaware, Connecticut, Maryland, Virginia and New York represent the second-largest venture-capital market in the country. In the U.S., Evonik Venture Capital is represented by Lutz Stoeber and Eric Breese, who are responsible for Evonik’s venture capital activities in North America.

    "Fund investments are an important part of Evonik’s venture capital activities,” said Bernhard Mohr, head of Evonik Venture Capital. “The partnership with Tech Council Ventures enables us to get in touch with a broad range of innovative start-ups that are located near our North American headquarters and will provide us with an excellent overview of new technologies in that region.”

    “The investment underlines our commitment to the region,” added John Rolando, president of North America for Evonik. “We see ourselves as a collaborator to foster entrepreneurship and strengthen local ties.”

    Tech Council Ventures II focuses on areas that have a close fit to Evonik’s growth engines, areas which the company has identified as promising fields for future growth and development. The fund invests in start-ups in the fields of materials, life sciences, healthcare, internet of things and energy.

    Evonik Venture Capital plays a strategic role in Evonik’s goal to become a best-in-class specialty chemicals company, by helping secure access to disruptive technologies and innovative business models as well as supporting digital transformation. To this end, Evonik launched its second venture capital fund with a volume of €150 million at the beginning of 2019, more than doubling the amount under management to €250 million.
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    Evonik Expands Fumed Silica Capacity Evonik Expands Fumed Silica Capacity
    Exterior Applications Account for 75+% of Global Demand for Aerospace Coatings: PMR Exterior Applications Account for 75+% of Global Demand for Aerospace Coatings: PMR
    PMR: Exterior Applications Accounts for over 3/4th of Global Demand for Aerospace Coatings PMR: Exterior Applications Accounts for over 3/4th of Global Demand for Aerospace Coatings
    Defoamers Market Worth $6.59 Billion by 2021 Defoamers Market Worth $6.59 Billion by 2021
    Oxea Increases Alcohols, Acetate Esters Prices in North America, Mexico Oxea Increases Alcohols, Acetate Esters Prices in North America, Mexico
    Evonik Reorganizes Polyamide Business Evonik Reorganizes Polyamide Business
    Evonik Showcases Innovation Through Unique Products, New Market Concept Evonik Showcases Innovation Through Unique Products, New Market Concept
    IMCD Named Exclusive Distributor for Polynt Coatings Resin in North America IMCD Named Exclusive Distributor for Polynt Coatings Resin in North America
    Mexico’s Aeronautical Industry a “Gold Mine”  for the Economy Mexico’s Aeronautical Industry a “Gold Mine” for the Economy
    Azelis Extends Distribution Agreement of DEGALAN Coating Resins with Evonik Azelis Extends Distribution Agreement of DEGALAN Coating Resins with Evonik
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    INEOS Acquiring Cristal INEOS Acquiring Cristal's North American Titanium Dioxide Business from Tronox for $700 Million

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    • Additives | Breaking News | Price Increases
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      The price increase will take effect for all new deliveries after Feb. 1, 2021, or as soon as contracts allow.
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    • Breaking News | Paint & Coatings Manufacturer News
      AkzoNobel Proposes to Acquire Tikkurila for €31.25 Per Share

      AkzoNobel Proposes to Acquire Tikkurila for €31.25 Per Share

      13% higher than the current offer made on Jan. 5, 2021.
      Coatings World staff 01.18.21

    • Breaking News | People in the News
      Ezio Braggio Joins ChemQuest Europe

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      Sherwin Williams' recently retired regional president of EMEAI joins ChemQuest.
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    • Breaking News | Production Equipment | Suppliers Corner
      Zeppelin Acquires MTI Mischtechnik

      Zeppelin Acquires MTI Mischtechnik

      Portfolio includes heating, cooling and universal mixers for plastics processing and chemical applications.
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    • Breaking News | Paint & Coatings Manufacturer News | Powder Coatings
      IFS Coatings Announce Carbon Offset Program

      IFS Coatings Announce Carbon Offset Program

      "We choose only to manufacture powder coatings," said Glynn Mason, IFS Coatings president.
      Coatings World staff 01.14.21

    • Additives | Breaking News | Distributor News
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      ...
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      The meeting is open to all industry professionals.
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    • Additives | Breaking News | Price Increases
      OQ Chemicals Increasing Oxo Intermediates Prices in the Americas

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      Due to strong demand and increasing raw material costs.
      Coatings World staff 01.13.21

    • Breaking News | Powder Coatings | Product news
      Axalta Powder Coatings Presents SuprAnodic Collection

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    • Automotive Coatings | Breaking News | Color Trends & Forecast | Paint & Coatings Manufacturer News
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    • Zeppelin Acquires MTI Mischtechnik
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