thyssenkrupp sees the Cotec Foundation's vision for a circular economy system as the role model for its innovations and R&D processes

thyssenkrupp Press releases

Trade press release, Feb 10, 2017

thyssenkrupp sees the Cotec Foundation's vision for a circular economy
system as the role model for its innovations and R&D processes

- The multinational, which recently joined the Spain-based Cotec
Foundation, attended the 11th Cumbre de Cotec Europa event to support a
less wasteful economy

- The Cotec Foundation is a private, non-profit organization whose mission
is to promote innovation as a catalyst for economic and social development

- The King of Spain, the heads of state of Italy and Portugal, the
European Commissioner of Research, Science and Innovation and the
Director-General for Environment of the European Commission, were also in
attendance

At the 11th Cumbre de Cotec Europa, an event hosted by the Cotec
Foundation, thyssenkrupp supported the organization's vision for a
sustainable model for our economy and production systems. Together with
several European partners the company has already developed various
products aimed at reducing waste and energy consumption in cities, where
the largest amount of energy is consumed.

This event was the first summit of European heads of state centered on the
theme of a circular economy. The Cotec Foundation provided the attendees
with its first report addressing this subject in Spain, and noted that
innovation should be the key transition element with institutions and
companies taking a leading role. Last month thyssenkrupp joined the ranks
of the Foundation's trustees, enabling it to contribute to an event
tailored to the promotion of a circular economy model.

The King of Spain Felipe VI chaired the event together with the President
of the Italian Republic, Sergio Mattarella; the President of the of the
Portuguese Republic; Marcelo Rebelo de Sousa; the European Commissioner of
Research, Science and Innovation, Carlos Moedas; and the Director-General
for Environment of the European Commission, Daniel Calleja, along with
stakeholders of the circular economy vision from the three participating
countries.

thyssenkrupp is already developing solutions that will help cities adapt
to a new model, because buildings today are the biggest consumers of
energy, accounting for 40% of the energy consumed worldwide. Innovations
like TWIN, consuming 30% less energy than traditional elevators, or MULTI,
which needs 50% less floor space than existing high-rise elevators, will be
key to designing sustainable cities. In this regard, thyssenkrupp believes
Cotec's pan-European alliances actively advance the development of
sustainability-oriented innovations, thereby promoting the transition to a
new economy model.

Javier Sesma, General Manager of thyssenkrupp Elevator's Innovation Center
in Gijon emphasizes: "thyssenkrupp is committed to the principles of a
circular economy in all its business areas. We are a part of the selective
group that is included in the global "Climate A List" by the non-profit
organization CDP (formerly the Carbon Disclosure Project) which recognizes
the world's leading companies in terms of climate protection."

Sesma highlights that "At its Global Research & Development (R&D) Center
in Gijon, thyssenkrupp applies eco-design standards and lifecycle
assessment analysis in all segments of the Circle of Value. Innovations
generated from Spain include the iwalk, which uses 40% fewer components
than traditional moving walkways and occupies 60% less space; and the
accelerated moving walkway ACCEL, capable of transporting more than 7,000
people per hour at an average speed similar to an urban bus system, and is
poised to change the way people will commute in cities."

thyssenkrupp Elevator has a significant R&D presence in Spain with its
innovation center in Gijon, Asturias. In addition, the company also has
three manufacturing centers and a total of 5,000 employees in the country.

The Cotec Foundation has about 80 patrons, including private companies and
regional and local administrations, and His Majesty King Felipe VI is the
Honorary President. Cotec Italia has also been operating since 2001 and in
2003, Cotec Portugal was formed. From the start, Cotec has distinguished
itself through its focused work on technological innovations amongst
Spanish companies. To carry out this mission, Cotec focuses on two main
activities: serving as a facilitator for research, development and
innovation in Spain, and providing analysis and advice on innovation,
technology and economics.

About us:
thyssenkrupp Elevator
thyssenkrupp Elevator brings together the Group's global activities in
passenger transportation systems. With sales of 7.5 billion euros in fiscal
2015/2016 and customers in 150 countries, thyssenkrupp Elevator built its
position as one of the world's leading elevator companies from scratch in a
mere 40 years' time applying thyssenkrupp unique engineering capabilities.
With more than 50,000 highly skilled employees, the company offers smart
and innovative products and services designed to meet customers' individual
requirements. The portfolio includes passenger and freight elevators,
escalators and moving walks, passenger boarding bridges, stair and platform
lifts as well as tailored service solutions for all products. Over 900
locations around the world provide an extensive sales and service network
to guarantee closeness to customers.

thyssenkrupp
thyssenkrupp is a diversified industrial group with traditional strengths
in materials and a growing share of capital goods and service businesses.
Over 156,000 employees in nearly 80 countries work with passion and
technological know-how to develop high-quality products and intelligent
industrial processes and services for sustainable progress. Their skills
and commitment are the basis of our success. In fiscal year 2015/2016
thyssenkrupp generated sales of around EUR39 billion.

Together with our customers we develop competitive solutions for current
and future challenges in their respective industries. With our engineering
expertise we enable our customers to gain an edge in the global market and
manufacture innovative products in a cost- and resource-friendly way. Our
technologies and innovations are the key to meeting diverse customer and
market requirements around the world, growing on the markets of the future,
and generating strong and stable earnings, cash flows and value growth.

Contact:

thyssenkrupp Elevator AG
Michael Ridder
Communications
Business Area Elevator Technology
Phone: +49 (0)201 844-563054

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