Sinopec Group Selects Clarivate for Impactful Research and Innovation
Rhea-AI Summary
Clarivate (NYSE:CLVT) has entered into a strategic partnership with Sinopec Group, China's largest oil and petrochemical products supplier, to provide academic research and intellectual property solutions. The collaboration includes access to the Web of Science platform and incoPat global patent data, covering over 200 million records from 172 countries.
Through this partnership, Sinopec Group will leverage Clarivate's comprehensive data insights and expert services to enhance its research and development capabilities, particularly in low-carbon energy and environment-friendly materials. The agreement builds upon an existing relationship where Sinopec Group already utilizes other Clarivate solutions including InCites Benchmarking & Analytics, Derwent Innovation, and Darts-ip.
Positive
- Partnership with China's largest oil and petrochemical company expands Clarivate's presence in a key market
- Strengthens existing relationship with Sinopec Group who already uses multiple Clarivate solutions
- Provides access to comprehensive data covering 172 countries through incoPat database
Negative
- None.
News Market Reaction 2 Alerts
On the day this news was published, CLVT gained 8.35%, reflecting a notable positive market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. The stock closed at $4.67 on that trading session. This price movement added approximately $223M to the company's valuation, bringing the market cap to $2.90B at that time.
Data tracked by StockTitan Argus on the day of publication.
New Partnership Delivers Web of Science and incoPat Solutions to
By bringing together leading solutions from both academic research and the IP sector, Clarivate will equip Sinopec Group with enriched data, trusted insights and expert services. This partnership will help Sinopec Group improve the creation, protection, and commercialization of innovation, supporting its vision of advancing new technologies in low-carbon energy and environment-friendly materials.
Clarivate will provide Sinopec Group with the Web of Science platform, which is home to the world's first and most trusted publisher-neutral citation index – Web of Science Core Collection – as well as additional data insights. Web of Science streamlines the discovery of content from the world's leading journals alongside conference papers, books, dissertations and theses, datasets, patents, preprints, awarded grants, policy documents and more.
Matti Shem Tov, Chief Executive Officer, Clarivate, said: "We are very pleased to sign this landmark contract with Sinopec Group to enhance its efforts in driving innovation. This is another great example of how we fuel innovation with our transformative intelligence, from research and learning to commercialization. We will work closely with Sinopec Group to support its corporate vision to be a world-leading energy and chemical company."
The collaboration between Clarivate and Sinopec Group dates back several years. Sinopec Group, as well as its subsidiaries, has been using other solutions from Clarivate, including InCites Benchmarking & Analytics, Derwent Innovation, and Darts-ip.
About Clarivate
Clarivate is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media contact:
Jack Wan, External Communications Director
newsroom@clarivate.com
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SOURCE Clarivate Plc