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Abengoa and Innovation


Innovation at Abengoa

Abengoa’s growth model is based on technological leadership and thanks to its unflinching commitment to R&D&I, this approach enables the company to generate value through new products and processes while improving those already on the market, thus affording it a competitive edge. Abengoa’s ability to generate and draw value from knowledge has proven key to its success and leadership in developing new technologies, processes and knowledge, all geared towards providing groundbreaking and environmentally-friendly technological solutions, which generate value in the mid- and long-term and give the company numerous competitive advantages.

At Abengoa, most investment in R&D&I is channeled into applied research and into developing technological innovation, thus mirroring the company’s strategic objectives. 

R&D&I investment in 2011 amounted to €90.6 M, marking a year-on-year increase of 30.8 %, accounting for approximately 1.4 % of sales and placing annual growth in investment at 12 %. This figure does not factor in investment in innovation, which, though not readily quantifiable, is a key element of Abengoa’s strategy.

The table below shows how Abengoa’s investment in R&D has evolved over the past few years in each distinct sector.

Innovation management at Abengoa is a central part of the strategy implemented by each business unit, represented by its “Three Horizons”, where R&D programs are defined aimed to develop new products and processes or improvement of existing ones. R&D programs are general in scope and are aligned to the Abengoa`s technology development strategy.

Abengoa’s focus on innovation entails a commitment to a range of initiatives. Some of these are already in progress, while others are at the preparatory stage:

  • A ten-year strategic plan that clearly specifies our research and development activities over the coming years, setting out precisely defined targets for technological advancement in terms of specific subject matter and time frames, tied to McKinsey’s “Three Horizons.”.
  • R&D valuation: economic assessment of research and development so as to monitor profitability and traceability.
  • Highly qualified R&D staff with a profile suited to these new requirements.
  • Major increase in the research and development budget, with funds being earmarked for highly innovative projects.