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Product Innovations: From Concept to Market<br />
While increasing the share of R&D investments<br />
focused on the five market-shaping shifts, we have<br />
also adjusted our process to bring new products<br />
from concept to reality. By innovating based on the<br />
cited market shifts, we can identify more unique<br />
solutions that are highly valued by our customers.<br />
These criteria spur new ideas and allow clear,<br />
consistent evaluation of product potential. Most<br />
importantly, they enable richer conversations with<br />
our customers during the product development<br />
phase, as many are attempting to create offerings<br />
that answer these same market trends.<br />
Such sustainability-driven process improvements<br />
enable us to identify and advance projects that<br />
create a sustainability advantage more quickly,<br />
while imposing a higher burden of proof on<br />
projects that are counter to our sustainability<br />
objectives. We are excited about the resulting<br />
opportunities for growth and the social impact we<br />
can effect with this focused approach. This effort<br />
will help to ensure a robust development pipeline<br />
to support the continued growth of <strong>FMC</strong> in the<br />
years beyond our Vision 2015 strategic plan.<br />
Our Agricultural business is introducing several<br />
new biopesticides. These materials are derived<br />
from plant and/or microbial resources that are<br />
renewable and in some cases offer farmers a lower<br />
toxicity alternative. We recently introduced Nemix<br />
C, a bacterial inoculant that enhances plant growth<br />
and yield, and Fracture, which will be introduced<br />
in North America in 2013 to control fungal diseases<br />
in grapes. These new products supplement our<br />
existing Regalia Max® fungicide, which is derived<br />
from the extract of giant rootknot.<br />
Environmental<br />
Consciousness<br />
16<br />
Climate<br />
Change<br />
FOCUSED FORWARD<br />
Scarce<br />
Resources<br />
Current Mkt Std New <strong>FMC</strong> Product<br />
Illustrative example of assessment chart from <strong>FMC</strong><br />
new product development process.<br />
Focus on Environmental Solutions<br />
Over the years, <strong>FMC</strong> has developed several<br />
innovative technologies to directly address the<br />
environmental and remediation challenges<br />
faced by our customers. In 2012, we recognized<br />
an opportunity to combine these products into<br />
a single platform that provides environmental<br />
solutions. We started building a comprehensive<br />
portfolio of solutions for improving air and water<br />
quality and restoring land to productive use.<br />
A good example of how this organizational<br />
change and market focus can increase <strong>FMC</strong>’s<br />
impact starts with our proven Klozur® persulfate<br />
products, mentioned in last year’s report. Since<br />
its launch in 2005, Klozur has helped customers to<br />
cost-effectively remediate more than 1,000 sites<br />
globally. Klozur reacts to destroy a wide range of<br />
organic contaminants in the subsurface, leaving<br />
behind environmentally benign byproducts that<br />
support further natural biodegradation. This in<br />
situ process often replaces the less desirable<br />
“dig-and-haul” process that relocates contami-<br />
nated soil and can increase the potential for<br />
human exposure.<br />
Klozur persulfate is an effective solution for many<br />
soil and groundwater concerns; however, with a<br />
business unit devoted to environmental solutions,<br />
we can quickly expand and build on its capabilities.<br />
We have already expanded our portfolio of soil<br />
and groundwater solutions with the acquisition of<br />
Adventus Intellectual Property, Inc. The Adventus<br />
line of products complements Klozur and enables<br />
<strong>FMC</strong> to effectively address a wider range of<br />
contaminants (such as heavy metals) and site<br />
conditions (such as large plumes of contaminated<br />
groundwater).<br />
A global need exists for these types of<br />
technologies. To support growth outside of<br />
North America, in 2012 <strong>FMC</strong> formed a joint<br />
venture with two companies in China. Combining<br />
BCEG Environmental Remediation Co., Ltd.’s<br />
(BCEER) leading position in China’s remediation<br />
market with BRISEA Group, Inc.’s capabilities for<br />
environmental technology transfer, <strong>FMC</strong> is poised<br />
to introduce a number of cost-effective soil and<br />
groundwater solutions to meet the needs of the<br />
Chinese market.<br />
<strong>FMC</strong> also began to build robust offerings in two<br />
other target areas: air and water.