Akron, Ohio (PRWEB) December 5, 2005
Ecology Coatings, Inc., a leading provider of ultra-violet cured industrial nanocoatings, today announced that it was selected as one of The World Economic Forum’s 36 Technology Pioneers for 2006.
Technology Pioneers are companies that have been identified as developing and applying highly transformational and innovative technologies in the areas of energy, biotechnology and health, and information technology. Ecology Coatings was honoured in the energy category for its quick-dry industrial coatings. This year’s class of companies has been selected not only because of the cutting-edge work undertaken by the organizations, but also because their work has potential long-term impact on business and society.
In line with the Forum’s commitment to improving the state of the world, the Technology Pioneers programme was established in 2000 to provide a new perspective on technological change. The programme is run by the World Economic Forum with Apax Partners and Deloitte Touche Tohmatsu as Strategic Partners. Through its Technology Pioneers programme, the Forum identifies and integrates those companies around the world that are involved in the design and development of new technologies. Each innovation, whether it has large or small consequences, is another step in society's attempt to harness, adapt and utilize technology to change and improve our world. The World Economic Forum is invested in monitoring and highlighting these innovations and exploring possible societal repercussions.
“The creative innovations produced by our Technology Pioneers hold the promise of significantly affecting the way business and society operate,” said Peter Torreele, Managing Director of the World Economic Forum. “As a global knowledge hub, we see the Technology Pioneer community as key contributors to this dialogue and to the mission of the World Economic Forum.”
Nearly every product manufactured today requires a coating for durability and aesthetics. Current coating technologies present a bottleneck in the manufacturing process that is both costly and inefficient. One of this year’s Technology Pioneers, Ecology Coatings is a world leader in the development of high-performance, ultraviolet (UV) curable industrial coatings that address those limitations by requiring 99 percent less time to cure, cutting energy expenditures by 80 percent, and containing no liquid or polluting solvents. Based on a platform of proprietary nanoparticles, the coatings can be applied via conventional techniques to plastics, metals, composites, paper and more. As a result, Ecology Coatings’ technology is driving clean, efficient processes in conventional applications like automotive manufacturing, as well as enabling entirely new technologies in electronics and other sensitive applications.
“Innovations in the coatings industry are most often viewed as incremental and rarely revolutionary. Given that rather staid tradition, I am particularly pleased that this prestigious forum has recognized the value and significance of Ecology Coatings’ innovation, said Rich Stromback, CEO of Ecology Coatings. “Considering the implications for our coatings across manufacturing applications worldwide, our participation in The World Economic Forum presents an excellent opportunity to meet with thought-leaders and contribute to the global dialogue on technology innovation and commercialization.”
This latest honor from the World Economic Forum adds to a growing list of Ecology Coatings’ accolades for 2005 including: a Wall Street Journal Technology Innovator Award, TIME Magazine's Best Inventions, Red Herring’s Top 10 Clean Tech Companies to Watch, and one of five finalists in Small Times Magazine's Best of Small Tech Innovator Awards.
Each year, members, constituents and collaborators of the World Economic Forum nominate Technology Pioneers. The criteria for selection include:
1. Innovation. The company’s technology must be truly innovative. A new version or repackaging of an already well-accepted technological solution does not qualify as an innovation. The innovation should be recent – not more than two years old. The company should invest significantly in R&D.
2. Potential Impact. This company’s technology must have the potential to have a substantial long-term impact on business and society in the future.
3. Growth and Sustainability. The company should have all the signs of a long-term market leader and should have well-formulated plans for future development and growth.
4. Proof of Concept. The company must have a product on the market or have proven practical applications of the technology. Companies in “stealth” mode and companies with untested ideas or models will not qualify.
5. Leadership. The company must have visionary leadership that plays a critical role in driving the company towards reaching its goals.
6. Status. The company must not currently be a Member of the World Economic Forum. This criterion applies to the parent company – thus wholly-owned subsidiaries of large firms are not eligible.
Nominees are evaluated by an external review committee comprised of technology experts with respect to the criteria above.
The uniqueness of the Technology Pioneer network ensures that companies involved in the development of new technologies are engaged in an integrated and interdisciplinary way. The Technology Pioneers community will provide the Foundation and its members with in-depth knowledge of some of the key technology issues facing society.
The World Economic Forum (http://www.weforum.org), based in Geneva, Switzerland, is an independent organization committed to improving the state of the world. Funded by the contributions of 1,000 of the world's foremost corporations, the Forum acts in the spirit of entrepreneurship in the global public interest to further economic growth and social progress. The Forum serves its members and society by creating partnerships between and among business, political, intellectual and other leaders of society to define, discuss and advance key issues on the global agenda. Incorporated in 1971 as a foundation, the World Economic Forum is impartial and not-for-profit, and is tied to no political, partisan or national interests. In 1995 the Forum was awarded NGO consultative status with the Economic and Social Council of the United Nations.
About Ecology Coatings
Ecology Coatings is a world leader in the development of nano-engineered, ultra-violet curable coatings. Using a platform of integrated nano-material technologies, the company creates proprietary coatings with unique performance attributes. Ecology collaborates with industry leaders to develop revolutionary high-value, high-performance coatings for military, automotive, industrial, electronic and medical applications. Ecology Coatings is a privately held company based in Akron, Ohio.
Contact: Matthias Lüfkens
Senior Media Manager
Tel.: +41 (0)22 869 1424
Fax: +41 (0)22 869 1394
Contact: Rosalind Jackson
Antenna Group (for Ecology Coatings)