SABIC has been named a winner of the 2023 R&D 100 Award, a global science and innovation competition, for its innovative solution, demonstrating how the company is continuing to invest in technology and innovation across multiple industries to help its global customers develop and deliver winning solutions.
The US-based R&D World magazine awarded SABIC in the Mechanical/Materials category for its new grade of resin with a novel plastic-based design as an alternative to metal.
R&D World also recognized Bob Maughon, SABIC Executive Vice President, Technology & Innovation, as “R&D Sustainability Innovator of the Year” in the Professional Category.
Commenting on the honor, Abdulrahman Al-Fageeh, SABIC Chief Executive Officer said, “We are proud of this prestigious global award that is yet another recognition of our excellence in innovation, highlighting our constant efforts to strengthen our capabilities to deliver innovative solutions. The award clearly reflects SABIC’s strong commitment to regularly introduce new technologies that make a positive impact across communities in the world. As we celebrate the honor, I would like to express my deep gratitude to all our stakeholders, including our partners, customers, and employees for their contributions toward our success in transforming creative ideas into pioneering solutions. I would also like to stress that the award has inspired us further to continue building on our innovation strengths and achieve more success in the future.”
The winning LNP™ ELCRES™ resin is a polycarbonate-based copolymer resin, suited for PV connector bodies which meets stricter performance and regulatory requirements for emerging 1.5 Kv solar systems. This cost-effective specialty resin performs better than competitive materials such as glass reinforced nylon, polyphenylene ether and standard polycarbonate.
Established in 1963, the R&D 100 Award recognizes new commercial products, technologies and materials for their technological significance that are available for sale or license. Past award recipients include established Fortune 500 companies and federally funded research institutions, as well as academic and government labs.