Axalta Wins Two 2024 BIG Innovation Awards

Rhea-AI Summary

Axalta Coating Systems (AXTA) wins 2024 BIG Innovation Award for Voltatex® 7345 A ECO Wire Enamel and Raptor® Flameproof Coating, contributing to electrification and sustainability

Market Research Analyst

The announcement by Axalta Coating Systems regarding their BIG Innovation Award wins for Voltatex® 7345 A ECO Wire Enamel and Raptor® Flameproof Coating signifies a strategic advancement in their product portfolio that could influence market competitiveness. The emphasis on sustainability and electrification aligns with the growing global demand for eco-friendly and energy-efficient solutions, particularly in the automotive and energy sectors. These innovations are likely to enhance Axalta's brand reputation and could potentially increase its market share in the coatings industry.

Investors should note that the development of such high-performance and environmentally conscious products may lead to new partnerships and customer acquisitions. Additionally, the long-term cost savings and efficiency gains for users of Axalta’s coatings could result in increased customer loyalty and recurring revenue streams. However, the extent of the financial impact will depend on the adoption rate of these technologies and the company's ability to scale production effectively.

Environmental Sustainability Expert

The introduction of Voltatex® 7345 A ECO Wire Enamel and Raptor® Flameproof Coating by Axalta Coating Systems represents a noteworthy contribution to environmental sustainability in the coatings sector. By focusing on reducing CO2 emissions and enhancing the longevity of automotive parts, Axalta is addressing critical environmental challenges. The efficient operation of electric motors, powertrains and energy storage devices facilitated by these products contributes to the broader goals of reducing greenhouse gas emissions and combating climate change.

From an environmental perspective, the success of these products could encourage other companies to invest in sustainable technologies, potentially leading to industry-wide improvements in environmental performance. However, the actual environmental impact will be contingent on the lifecycle analysis of the products, considering not only their application but also their production and end-of-life disposal processes.

Automotive Industry Analyst

The automotive industry is undergoing a significant transformation with the shift towards electrification. Axalta's innovations in wire enamel technology and flameproof coatings are poised to play a pivotal role in this transition. The Voltatex® 7345 A ECO Wire Enamel could be particularly influential in the manufacture of electric vehicles (EVs) by improving the efficiency of electric motors, which is a key factor for EV performance and range.

Moreover, the Raptor® Flameproof Coating's ability to withstand extremely high temperatures could lead to enhanced safety and durability of automotive parts, a critical consideration for consumers and manufacturers alike. The automotive industry's response to these products will be an important factor to monitor, as it could signal Axalta's potential to secure a foothold in the rapidly growing EV market.

Voltatex® 7345 A ECO Wire Enamel enables efficient electric motors, powertrains and energy storage devices, advances electrification, and reduces CO₂ emissions

Sustainable Raptor® Flameproof Coating extends the useful life of automotive parts especially at extremely high temperatures

GLEN MILLS, Pa., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Axalta Coating Systems (NYSE: AXTA), a leading global coatings company, today announced that both its Voltatex® 7345 A ECO Wire Enamel and its Raptor® Flameproof Coating have each won the 2024 BIG Innovation Award presented by the Business Intelligence Group (BIG). The annual business awards program recognizes organizations, products and people that bring new ideas to life in innovative ways.

“Axalta is proud to once again be recognized for innovations that demonstrate our commitment to our customers by creating smarter solutions for better living and a sustainable future,” said Dr. Robert Roop, Axalta’s Chief Technology Officer. “Electrification is driving unprecedented levels of research and development to improve the efficiency of electrical systems and supporting infrastructure. Our Voltatex® 7345 A ECO Wire Enamel Technology helps address this growing trend. Further, our range of Raptor® Flameproof Coatings provide substantial sustainability benefits by protecting against substrate degradation at temperatures over 1800 °F.”

2024 Award Winners

Axalta’s Voltatex® 7345 A ECO Wire Enamel: Advancing Electrification

Voltatex® 7345 A ECO Wire Enamel is an environmentally friendly insulating technology for magnet wires in motors, transformers and generators, such as those in Electric Vehicles and Wind Turbines. This high-performance product is easy to process and enables efficient electrical motors to help advance electrification. Voltatex® 7345 A ECO Wire Enamel is sustainable and critical to reducing CO₂ emissions.

Axalta’s Raptor® Flameproof Coating: Sustainable Innovation

Axalta’s Raptor® Flameproof Coating provides breakthrough improvement in extending asset life, when compared to incumbent products available in the market. This novel technology helps protect and extend the life of automotive parts as well as structural steel substrates. The heat resistant properties provide sustainability benefits, including waste reduction.

Nominations for the BIG Innovation Awards were judged by a select group of business leaders and executives who volunteered their time and expertise to score submissions.

The full list of winners and more information about the BIG Innovation awards can be found here.

About Axalta

Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful, and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity, and enhance durability. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 130 countries better every day with the finest coatings, application systems and technology. For more information, visit axalta.com and follow us on LinkedIn and @axalta on X.

Axalta Coating Systems	Global Media Contact
50 Applied Bank Boulevard, Suite 300	Jessica McDuell
Glen Mills, PA 19342	D +1 302-897-4486
www.axalta.com	Jessica.McDuell@axalta.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/583443a6-5181-4fcd-8583-c4588e3328bc

What is the 2024 BIG Innovation Award won by Axalta Coating Systems?

The 2024 BIG Innovation Award was won by Axalta Coating Systems for its Voltatex® 7345 A ECO Wire Enamel and Raptor® Flameproof Coating.

How does Voltatex® 7345 A ECO Wire Enamel contribute to electrification?

Voltatex® 7345 A ECO Wire Enamel is an environmentally friendly insulating technology for magnet wires in motors, transformers, and generators, promoting the efficiency of electrical motors in Electric Vehicles and Wind Turbines.

What are the sustainability benefits of Raptor® Flameproof Coating?

Raptor® Flameproof Coating provides breakthrough improvement in extending asset life, protecting and extending the life of automotive parts and structural steel substrates, with heat resistant properties that reduce waste.