The bioeconomy company Borregaard has received the Research Council of Norway’s Innovation Award for 2015.
“In giving the Innovation Award to Borregaard, the Research Council recognises a company that has succeeded in adapting to new market demands through systematic, long-term research, development and innovation”, the Council states on its website. “Borregaard demonstrates competitive strength in a sustainable manner”.
The Norwegian industrial conglomerate has a rich history. Originally known for its pulp and paper products, Borregaard now has nearly 1 100 employees in 16 countries and produces advanced, environment-friendly biochemicals and biomaterials from natural, renewable raw materials.
Borregaard’s research and development activities are highly market-driven. The company invests roughly five per cent of its revenues in R&D and innovation. Currently some 12 per cent of turnover is from new products the company did not have just five years ago. In its statement, the jury highlights Borregaard’s ability to integrate innovation into its corporate culture, with marketing and production units also deeply involved in its innovation processes.
The jury stated that Borregaard serves as a strong role model and an inspiration in an era calling for adaptability. It is a key player with further potential in the bioeconomy segment. The company collaborates with a number of research institutions in Norway and abroad, and has leaders and researchers with visible, active roles in Norway’s research and innovation landscape.
The Research Council’s Innovation Award carries a cash prize of NOK 500,000, which will go towards the company’s innovation activities.
In addition, cancer researcher Harald Stenmark received the Award for Outstanding Research for 2015, while researcher-lawyer Anine Kierulf received the Award for Excellence in Communication of Science.
Read more on the Research Council of Norway’s website.