Ecolab Makes Forbes List of World's Most Innovative Companies
Ecolab Inc. has been named to Forbes magazine's "The World's Most Innovative Companies" list, which appears in the Aug. 8 issue of Forbes. Ecolab ranks 28th out of 100 companies on the global list.
"Our purpose — to make the world cleaner, safer and healthier, everywhere it matters — drives our commitment to innovation," said Douglas M. Baker, chairman of the board, president and chief executive officer, Ecolab. "Our customers want new products and programs that provide superior results along with water, energy, waste and labor savings. We remain focused on continuing to lead innovation in our industry and finding new and better ways to effectively deliver solutions to our customers."
According to Forbes, companies were selected and ranked by a team of researchers and authors of a newly released book, "The Innovator's DNA." The rankings are based on an assessment of each company's "innovation premium," which measures the premium the stock market gives a company for anticipated or expected innovation.
Ecolab invests approximately $90 million annually in research, development and engineering and holds more than 3,700 patents globally.
"More than one-third of our sales are derived from new customer solutions introduced within the last five years," Baker said.
Essential to Ecolab's innovation process is its total impact approach to preserving the earth's resources.
"We focus not only on product formulations, but also on how use of the product will affect the use of natural resources, how the packaging will impact the environment, and the safety of the end user," said Larry Berger, chief technical officer and senior vice president, Research, Development & Engineering, for Ecolab.
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