The existing model of industrial and economic development is not sustainable as the capacity of the planet to continue to provide raw materials that generate value for our economy, and its capacity for absorbing all the wastes, emissions, discharges, etc. generated by the economic activity itself, are limited. Due to this exhaustion of raw materials and saturation of the environment in the role it plays as a cesspool for industrial activity, our environment is undergoing great change that is leading to major challenges and opportunities. Abengoa believes in the capacity of technological innovation, research and development as the tools required to change our treatment of the environment and also to put an end to unsustainable production systems. To this end, large investments will have to be made in sustainable production systems. These investments will be able to replace consumption as the motor of global economy in these current difficult times.
Global warming must be seen not only as a serious risk to the environment but also as an element that has a very negative impact on world economy where, up until now, the external costs of industrial and economic activity in decision-making processes only received very discreet consideration. That is to say, environmental and social considerations have only very rarely been included in the customary criteria.
Research, technological development and innovation are a necessary source of solutions for sustainable development, which is Abengoa's primary objective. Their implementation has been fundamental in positioning the company as leader in the generation of new technologies, processes, and know-how focused on providing innovative environment-friendly solutions that, in addition to providing competitive advantages, generate long-term value. Undoubtedly, technological innovation is a fundamental factor in evolution towards a sustainable globe with high levels of wellbeing for all countries and individuals. Experts agree that almost 80% of long-term growth in any economy will result from technological achievements.
At Abengoa, we are fully aware that the innovation process is a dynamic process that responds to a society in constant evolution and which, therefore, is conducted as a suite utilizing all the resources available in the knowledge, science and technology society. As a large company, Abengoa adopts the so-called "innovation ecosystem" and fosters collaboration with universities, government agencies, public research institutions, technology centers, and other companies. This is the only way it can generate the required know-how and provide answers and solutions to the new challenges to be faced. This innovation system includes demonstration projects, research and development facilities in different countries, and external collaboration agreements.
On the basis of its innovation policy and strategy, Abengoa, together with all its business units, puts its trust firmly in sustainable harnessing of resources and raw materials throughout their entire lifecycle. Each one of Abengoa's business units conducts different technology innovation projects to this end.
Abengoa is the unquestionable leader in technological development in the field of energy production from renewable energies. Abengoa Solar works on producing electric energy by replacing conventional sources with renewable sources such as solar thermal or photovoltaic energies. It also works on developing technologies that allow energy storage.
Abengoa Bioenergy produces biofuels that replace traditional fossil fuels. Hynergreen develops new systems for hydrogen production utilizing renewable sources, and for the use of hydrogen in latest generation fuel cells. Inabensa focuses on implementing improvements in energy efficiency and on CO2 capture and storage programs.
The promotion and implementation of these technologies for energy production based on renewable sources and energy efficiency are part of a new sustainable development economy and will result in savings in greenhouse gas emissions and decentralization in relation to traditional sources while freeing states from the usual geopolitical subordination imposed by the owners of said energy sources, linked to actual causes of insecurity and scarcity of supply.
Likewise, Abengoa, through its Environmental Services Business Unit, with Befesa as the parent company, provides solutions for the integral water cycle and for integral industrial waste management.
In like manner, Telvent, the Business Unit dedicated to Information Technologies, conducts development and innovation activities focused on being able to offer its customers innovative solutions that contribute to sustainability and security by way of technology.
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