Corning Incorporated (NYSE: GLW) has been recognized by the European Commission for developing an innovative solution that helps clean the air.
The Horizon 2020 Materials for Clean Air Award was given to Corning for its Air Purification Technology, which helps reduce particulate matter in the air to levels below the guidelines set by the World Health Organization. The award ceremony took place today at the Industrial Technologies Conference in Vienna, Austria.
“This award recognizes the innovative and collaborative work of Corning’s research, development, and engineering teams in Europe and China,” said Dr. David Morse, Corning’s chief technology officer. “These teams successfully evolved the mobile emissions particulate filter technology that we invented 40 years ago into a prototype that can be used for indoor air ventilation systems and large outdoor air treatment systems to help clean particulate matter from the air, even in urban areas where levels are highest. This is a significant milestone and a tremendous honor.”
Particulate matter comprises fine and ultra-fine particles that are suspended in the air. They include dust, smoke, aerosols, fumes, and mist that result from residential heating, transportation, industrial combustion processes, and fires. Particulate matter can cause a variety of health concerns and can get deep into the lungs, affecting the respiratory system and causing irritation to the throat, eyes, and nose. Corning developed the Air Purification Filter to address this growing concern. The filter traps the particulate matter on its porous walls and cleaner air leaves through outlet channels.
“Our current Air Purification system is a prototype,” Morse said. “The 3 million euros prize will help us build a full-size demonstration unit that we may install in Europe to help us accelerate our understanding of the European market, an important prerequisite to help us determine commercialization.
“This technology increases our contribution to cleaning the air we breathe,” Morse continued. “Not only can we do it through our Environmental Technologies products that clean the air of mobile emissions, we believe we can also make a difference with our Air Purification filters, which can clean ambient air of fine and ultrafine airborne particulate matter.”
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This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effects of acquisitions, dispositions and other similar transactions by the Company, the effect of global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; and the potential impact of legislation, government regulations, and other government action and investigations.
For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
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About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a more than 165-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.
Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.
