Evonik invests in Velox, a direct-to-shape digital printing developer in Israel
The new digital printing technology from Velox allows manufacturers to print photo-quality images and embellishments directly onto cylindrical metal, plastic, or glass packaging
Mass-production flexibility is Velox’s trump card — the printing process allows high-volume quantities decoration at competitive cost, while also enabling efficient small-series projects
This is Evonik’s first venture capital investment in Israel, and strengthens the company’s Specialty Additives Growth Engine
Essen, Germany. 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 start-ups. Velox possesses new digital printing technology for cost effective high-speed photo-quality printing on metal, plastic, or glass packaging, either for extremely small series or for large-scale industrial projects. “Evonik is one of the world’s leading specialty chemicals companies and sees itself as a partner to the printing industry. The sophisticated demands in the field of digital printing make this market particularly interesting for the development of our Specialty Additives Growth Engine,” says Bernhard Mohr, the head of Evonik Venture Capital. The parties have 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, an extremely wide range of realistic colors and embellishment effects applied with superior properties. The company is already offering decoration systems for cylindrical containers such as plastic tubes and aluminum aerosols. “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’re glad to be working with Velox to develop perfectly tailored additive solutions for this growing market,” says Gaetano Blanda, who heads the Coating Additives Business Line at Evonik.
The Velox solution includes a novel printer architecture and a palette of uniquely formulated inks. Velox will initially use the newly available capital to drive technology development and marketing for additional printer systems and applications. “In Evonik, we have a strategic investor with extensive experience in the printing industry and a large research and development network. Our collaboration will enable our Inks technology to reach an even higher performance level and meet any industry requirement” says Marian Cofler, CEO and co-founder of Velox.
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 specialty venture capital funds. The regional focus lies on Europe, the US, and Asia. Evonik currently holds shares in over twenty start-ups and specialty funds. Additional information is available at http://venturing.evonik.com/
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees. In fiscal 2016, the enterprise generated sales of around €12.7 billion and an operating profit (adjusted EBITDA) of about €2.165 billion.
Velox develops and manufactures industrial-grade direct-to shape digital decoration solutions for the rigid container industry. Its proprietary DTS-Inkjet technology, based on uniquely formulated inks and dedicated deposition architecture, introduces an entirely new approach to digital printing that is poised to disrupt the packaging decoration market. Velox’s industrial-grade digital decorator delivers, at full production speed, superior decoration quality and capabilities that outstrip the benefits of analog printing solutions, while allowing a more efficient and flexible production process and a low total cost of ownership (TCO). Velox is powered by an expert team with uniquely extensive and wide-ranging experience in digital printing, led by veteran executives with proven success in driving company growth. For more information, visit http://www.velox-digital.com
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.