Evonik targets €1.5 billion in revenue through sustainability and pharmaceutical expansion

Evonik is implementing a multi-faceted growth strategy focused on sustainability and pharmaceutical manufacturing. The company aims to generate €1.5 billion in additional revenue by 2032 through innovation in biotechnology, energy transition, and the circular economy. Key initiatives include developing renewable biosurfactants, carbon capture technologies, and solutions for recycling materials like polyurethanes and rubbers.

In the pharmaceutical sector, Evonik is investing over CAD 150 million to expand its operations in Vancouver, Canada. This new facility will focus on the development and production of lipid-based drug delivery systems, including lipid nanoparticles (LNPs) used in mRNA vaccines and advanced therapies. The project, supported by CAD 68 million in Canadian federal funding, is expected to triple current capacity and begin production by late 2029.

This expansion is part of a global network that includes a new lipid manufacturing site in Lafayette, Indiana, in the United States. These investments target the growing LNP market, which is projected to reach US$ 2.7 billion by 2034.