More and more, companies are realizing that by going green, they improve their bottom lines. You can now count Dow Chemical among those that have chosen a more intensive focus on sustainability. And my bet is that its decision to capitalize on renewable energy demand by replacing conventional products with low-carbon alternatives will pay off big!
In case you are wondering… Dow Chemical’s new strategy involves green material science. That is, Dow will be using more eco-friendly materials in its products. As a result, consumers can celebrate a true, green hue, rather than the much-feared “green-washing.”
Specifically, Dow is working to create and market membranes, coatings and other items which involve chemical knowledge to reduce the carbon footprint of the products. In fact, the focus on green materials is precisely right from a marketing standpoint. According to Vinod Khosla, materials is one of four core green markets this decade (replacements for coal, oil substitutes, and energy efficiency are the other three).
So what, exactly is Dow Chemical doing to focus on sustainability?
In September 2009, a joint venture between Dow and Corning resulted in development of a silicone sealant that was originally devised for outer space solar panels, but will now enter the conventional solar panel market. Solar technology development is a significant focus for Dow. It also signed a significant deal in November 2009 with Caltech to develop “next generation solar technologies.” Looking ahead in the coming months and years, Dow Chemical is planning to sell CIGS (copper indium gallium selenide) solar roof tiles, as well.
Will Dow’s efforts spur on other corporations to develop and utilize eco-friendly materials? Perhaps its the other way around! Beyond Dow Chemical, companies including Panasonic, Taiwan Semiconductor Manufacturing Corp., LG and Samsung have made significant strides in going green recently. Count among them corporations including Philips and Siemens who are focusing on their green portfolios, and 2010 should end up a huge year to showcase real, green efforts.
While we may tend to look at start-up companies to show us the way with new, profitable and eco-friendly trends, oftentimes its corporations like Dow Chemical that can blaze some significant green trails.