Covestro becomes shareholder of Crime Science Technology
Strengthening of the specialty films business for identification documents
• Strategic focus on investments in start-ups
• Exclusive partner for unique O.V.M® material technology
As part of its corporate venture capital activities, Covestro invests in the French technical start-up company Crime Science Technology (C.S.T). With this investment, Covestro strengthens its business with special films for ID documents and gets access to the Optical Variable Material (O.V.M®) technology for polycarbonates and polyurethanes. This innovative technology developed by C.S.T enables new security features and makes identification documents even more forgery-proof than before. C.S.T was founded in 2010 and has an administrative and a laboratory location in France. The transaction is one of the first projects of Covestro´s strategy to invest in start-ups. It was agreed not to disclose the amount of the investment.
“With this step, we are strengthening our position as an innovation driver in special films for ID documents,” says Dr. Thorsten Dreier, Global Head of the Specialty Films business at Covestro. “With the new partnership and the introduction of Makrofol® ID O.V.M® films we are creating a new degree of security.” Covestro has many years of experience in the development and production of films for identification documents.
Cosimo Prete, President and founder of C.S.T, also welcomes the new strategic cooperation: “We value Covestro as a very innovative partner in the development of film solutions for the production of identification documents and look forward to working together in this growing market.”
Security features for easy contro
To prevent document attacks through forgery, manipulation and identity theft, ID documents such as ID Cards or passports are equipped with various security features. In routine ID checks, visible and haptic level 1 elements in particular are becoming increasingly important, as they can be checked quickly and without additional technical equipment.
Covestro and C.S.T have been working together in this field since 2016. Last year, Covestro introduced the transparent Makrofol® ID O.V.M® film to the industry. The O.V.M® material technology creates a completely new color change effect, which is a very strong level 1 security feature. The new film can be integrated into existing card manufacturing processes without further modifications.
With 2019 sales of EUR 12.4 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 17,200 people (calculated as full-time equivalents) at the end of 2019.
About C.S.T Crime Science Technology
Founded by a team of ID-document and forensic experts, C.S.T Crime Science Technology develops and markets security features. In addition, C.S.T designs innovative processes that reveal traces and clues allowing the identification of criminals. Validated by the French Interior Ministry, forensic technologies developed by the company are used on a daily basis by forensic experts around the world.
In the government identity and banknote industries, C.S.T is developing a range of strong level 1 security features with innovative visual properties that allow quick and intuitive authentication. By combining chemical properties and optical phenomena, these technologies constitute a new generation of security features.
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.