International. Through its venture capital unit, Evonik has invested in Velox, a digital printing technology developer located in Rosh HaAyin, Israel. This marks the company's first investment in Israel, which has become a hub for startups.
Velox has a new digital printing technology for economical printing of high speed and photographic quality in metal, plastic or glass containers, whether for extremely small series or for large-scale industrial projects. "Evonik is one of the leading specialty chemical companies in the world and sees itself as a partner in the printing industry. The sophisticated demands in the field of digital printing make this market particularly interesting for the development of our Special Additive Growth Engine," says Bernhard Mohr, Director of Evonik Venture Capital. The parties agreed to keep the scope of the investment confidential.
The inks used have been developed by Velox especially for digital printing on metal, plastic and glass, and offer, among other advantages, a wide range of realistic colors and beautification effects applied with superior properties. The company is already offering decoration systems for cylindrical containers such as plastic tubes and aluminum sprays. "Digital printing opens up new design opportunities in the packaging industry and allows industry players to distinguish themselves from the competition in new ways. We are happy to work with Velox to develop additive solutions perfectly suited for this growing market," says Gaetano Blanda, who leads the Coating Additives Business Line at Evonik.
As part of its venture capital activities, Evonik plans to invest a total of €100 million in promising start-ups with innovative technologies and in leading specialist venture capital funds. The regional focus is in Europe, the US and Asia. Evonik currently holds shares in more than twenty start-ups and specialized funds.
