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Henkel invests in Israeli technology start-up

January 15/2021

MOSCOW (MRC) -- Henkel Adhesive Technologies strengthens its capabilities for maintenance, repair and overhaul (MRO) solutions by investing in Feelit, Haifa, Israel, said Chemweek.

The start-up has developed a unique sensor technology for predictive maintenance for various applications in manufacturing. With the investment Henkel aims to further expand its leading MRO portfolio for its broad customer base in industrial markets.

"As part of our venturing activities we are looking for novel and scalable technologies complementing our existing portfolio in adhesives, sealants and functional coatings, explains Paolo Bavaj, Head of Corporate Venturing, Adhesive Technologies. We also focus on digital business models that help innovating our traditional businesses towards the increasing demands for novel and efficient industrial IoT solutions. The investment in Feelit perfectly fits to our business strategy and underlines the value of our long-standing engagement in Israel as a major global hub for materials and technology start-ups."

Henkel Adhesive Technologies is a leading provider of MRO solutions in more than 800 different industry segments. Adhesives and sealants under the well-known Loctite brand improve the maintenance of production machinery and equipment for example in steel mills, car factories, mining equipment or power turbines around the globe. The products are designed to help manufacturers limiting cost-intensive unplanned production line stops.

"As a global leader in the MRO markets we aim to implement Industry 4.0 solutions to expand our offering beyond materials, adds Michael Honne, Head of MRO 4.0 at Henkel Adhesive Technologies. The global market for predictive maintenance is expected to significantly grow over the next years as digital technologies have a huge potential to further reduce unplanned asset downtime and help preventing serious damages across multiple industries. Based on our leading market position and expertise of our Loctite portfolio we aim to leverage the technology of Feelit to develop innovative solutions providing additional value to our customers improving the day-to-day life of maintenance professionals."

Founded in 2017, Feelit has developed a highly sensitive, flexible, printed nanomaterial sensor that is applicable on static and rotating machinery parts. This sensor can measure strain in ultra-high resolution, as well as other parameters such as temperature, vibration, and pressure. Based on an industrial IoT platform for real-time remote sensing of structural changes in mechanical assets, the system serves as an electronic skin that alerts on critical structural and operational anomalies in advance. With a 50 times higher sensitivity compared to current standard market applications it allows condition monitoring and predictive maintenance of industrial assets, like valves, pipes and pumps, and prevents unplanned and cost intense downtimes of machineries.

"We consider this a major leap in our ongoing financing and strategic efforts, says Feelit CEO Gady Konvalina. Henkel is an exceptional strategic partner, and this collaboration is sure to yield significant opportunities for both companies. With Feelits growth potential and Henkels industry expertise and market reach, our unique nanotechnology will be able to benefit a broad relevant client base. The partnership has already begun opening up new opportunities in the oil and gas industry and working with Henkels MRO unit will help us to develop even more verticals and applications."

As MRC informed earlier, Henkel has provided a business update for the third quarter and says that, based on preliminary figures, its adhesive technologies business unit achieved positive organic sales growth of 1.3% in the quarter. All business areas in adhesive technologies showed a recovery in demand compared with the second quarter, the company says. Henkel notes that in the first nine months of 2020, adhesive technologies recorded a 6.8% decline in organic sales.

We remind that Russia's output of chemical products rose in November 2020 by 9.5% year on year. At the same time, production of basic chemicals increased in the first eleven months of 2020 by 6.6% year on year, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-November 2020 output. November production of polymers in primary form rose to 896,000 tonnes from 852,000 tonnes in October. Overall output of polymers in primary form totalled 9,240,000 tonnes over the stated period, up by 17.1%  year on year.
Author:Anna Larionova
Tags:petroleum products, PP, PE, ethylene, propylene, neftegaz, petrochemistry, Henkel.
Category:General News
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