SKF is launching The Patent Bay, a new platform open to companies that aim to accelerate technologies with the potential to advance sustainability by making selected patents freely available to others. “Innovation is essential for a sustainable future, and history shows that real breakthroughs happen when we share. The Patent Bay is our way of unlocking that potential to create ripple effects across industries and society”, says Rickard Gustafson, CEO of SKF.
The launch comes at a time when global patent filings are at an all-time high. According to the World Intellectual Property Organisation, 3,55 million patent applications were filed globally in 2023, more than double the number in 1995. While this reflects a strong innovation climate, it also highlights the growing challenge of access and collaboration. The first patent released on the platform is a high-performance bearing alloy developed for the aviation industry. “In today’s complex world, openness and collaboration are more important than ever. At SKF, we believe that sharing is part of the solution. This new bearing material can handle higher loads in a more compact form, enabling high-performance bearing solutions for new architectures of engines designed to reduce emissions by up to 25%.”
The Patent Bay is now live and accessible at www.thepatentbay.com to companies and innovators committed to technologies with the potential to advance sustainability. To find out more, visit www.thepatentbay.com or www.skf.com/fighting-friction/02"
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