Our innovations in the bioeconomy create value for our businesses and support UPM renewal by creating new business opportunities using renewable and recyclable biomass. We enhance the competitiveness of existing businesses by finding solutions to increase resource efficiency, reduce costs and develop new products.
We develop new technologies and businesses in order to expand the future UPM portfolio. UPM is developing new businesses based on its extensive know-how and strong position in the forest biomass sourcing and processing value chain. We aim to use valuable and renewable forest biomass as responsibly and efficiently as possible.
An excellent example of responsible business practices in innovation processes is the UPM ecodesign concept that we have incorporated into our product and process development. For us, ecodesign means that we design and produce our products responsibly to be safe and sustainable, and we ensure that, whenever possible, the end of our products’ lifecycle is the birth of something new. We have developed innovative ways to reduce our own waste or residues and to be able to reuse them in smart new products – we see yesterday’s waste as today’s valuable raw material.
UPM’s intellectual property rights applications remained on a significant level. The high level of patent registration highlights the progress made in new businesses. UPM actively manages its patent portfolio and evaluates the applicability and commercial value of its patents. UPM is trying to seek new commercialisation partners for patents not suitable for our businesses.
Sustainability, resource efficiency and innovative products made from renewable resources are at the forefront driving UPM’s shift towards the bioeconomy. Different innovation needs are emphasised in different businesses. In existing businesses the focus is on cost savings and developing new services and new business models according to customer needs.
For new businesses we need to create new products and technologies or applications and means of commercialisation. At the moment UPM develops new bioeconomy-based businesses in three areas: biofuels, biocomposites and biochemicals.