Solvay Ventures finalises agreement to sell MultiMechanics to Siemens
Brussels, December 3, 2019 --- Solvay Ventures, the Venture Capital fund of Solvay, announces the acquisition of its portfolio company, MultiMechanics, by Siemens. The integration of MultiMechanics virtual testing software, TRUE MultiscaleTM technology, into Siemens’ Simcenter 3D is a new step for the automotive and aerospace industry to adopt advanced materials for a cleaner mobility.
Solvay is a world leader in metal replacement materials. Solvay Ventures led the investment in MultiMechanics in 2017, to support co-founders Flavio Souza and Leandro Castro in their business development, taking an active role as an investor, and as a strategic partner. “The strategic partnership with Solvay was key to the success of the company. Working hand-in-hand with its Composite Materials division for many years enabled MultiMechanics to improve materials, tailor them to market needs and bring them to the Solvay network,” said Flavio Souza, CTO of MultiMechanics.
The multi-year partnership with MultiMechanics enables to accelerate the development of Solvay’s pipeline of high performance polymer and composite materials for the aerospace and automotive industry while decreasing development costs drastically. “The accuracy and speed afforded by MultiMechanics modeling and simulation software, and its efficient integration with commonly used commercial finite element software packages is changing the way we develop new materials and interact with our customers,” said Mike Blair, Executive Vice President Research and Innovation, Composite Materials GBU at Solvay
The integration with Siemens brings another level of capability, unlocking the potential of the technology and its applicability. “Leveraging Solvay to create value for our portfolio companies is at the core of our investment strategy. While investing in the next materials frontier, we hope to generate synergies that will benefit all stakeholders: entrepreneurs, investors and the ecosystem,” said Coppelia Marincovic and Matt Jones, with the Solvay Ventures team.
About Solvay: Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end-markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources, and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 24,500 employees in 61 countries. Net sales were €10.3 billion in 2018, with 90% from activities where Solvay ranks among the world’s top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris Bloomberg: SOLB.BB - Reuters: SOLB.BR), and in the United States its shares (SOLVY) are traded through a level-1 ADR program. (Figures take into account the planned divestment of Polyamides).
About Solvay Ventures: Solvay Ventures is the Venture Capital fund of Solvay. Solvay Ventures invests in breakthrough technologies in advanced materials, devices and business model innovation. Operating since 2005, Solvay Ventures is currently investing out of a €80 million global evergreen fund. Solvay Ventures targets early stage investment opportunities (Seed through Series B) with a focus on startups addressing better use of resources, energy transition, increased well-being, and digital age. Beyond capital, Solvay Ventures looks to leverage the resources at Solvay to help accelerate technology and market adoption.
About MultiMechanics: MultiMechanics develops multiscale material modeling and simulation software that virtually predicts failure in advanced materials at an unprecedented level of speed and accuracy. In 2017, MultiMechanics raised its seed funding round of $1.9 million from a co-investment led by Solvay Ventures. MultiMechanics was founded in 2010 and is based in Omaha, Nebraska.