Yokogawa Electric Corporation announced that it has established Yokogawa Innovation Switzerland GmbH to build a strong base for its bioeconomy business through the provision of quick and proactive market research and development activities, and the introduction of cutting-edge biotechnologies. The new subsidiary was officially registered on June 26th, and business operations will start from August.
Switzerland is ranked high in global competitiveness and is a gathering point for highly talented professionals. Yokogawa Innovation Switzerland is located in Allschwil, directly next to the city of Basel, which is the European center of the biotechnology and life science industry. In this ideal location, the new company will promote Yokogawa’s bioeconomy business through research and development and partnerships. It will focus on discovering research themes, promoting open innovation, and searching for business partners. To coincide with the opening of the new subsidiary, Yokogawa Europe’s existing Swiss branch for its industrial automation business has also moved to the same location as the new company.
The bioeconomy is considered to be an important pillar for building a sustainable society, and governments and corporations in many countries are concentrating on this field. It is one of the focus areas defined in Yokogawa’s long-term business framework, and through its bioeconomy business and other initiatives the company is working to achieve the sustainable development goals (SDGs) and contribute to the development of a circular economy. To acquire technologies and expertise in the bioeconomy field, Yokogawa has already taken steps such as investing in AlgaEnergy, a Spanish company that is a leader in the production and application of microalgae.
As this market expands and grows more competitive, Yokogawa aims to secure the knowledge and human resources required for developing the bio-related business, explore new business opportunities, and forge alliances with other entities that have world-leading technologies by establishing operations in a region with dynamic bio-related innovation.