In order to power a sustainable future for the marine and energy markets, we utilise digitalisation and the development of smart technologies to deliver new products and solutions. A substantial proportion of the investments we make in product and solution development is targeted at securing environmental compliance and providing short- and long-term benefits for our customers. As a result of this approach, Wärtsilä is well positioned to support customers in reducing emissions and decreasing the use of natural resources.
Wärtsilä develops technologies that comply with ever more stringent sustainability targets, in both the Energy and Marine Businesses. New technologies are under implementation to secure both current and future sustainability demands. Such trends include a shift towards the use of carbon neutral fuels, such as bio and synthetic fuels, and Wärtsilä has both the required know-how and the technologies and products to enable this transition.
Optimising the quality of our new solutions and their time to market is carried out using increased levels of simulation, modularisation, virtual testing, and validation. The focus is on continuous improvement, thereby securing reliability and safety without compromising quality. Only after the solutions have successfully passed all the validation process steps and confirmation that the performance meets Wärtsilä's high standards, new products can be delivered to the market.
Forming meaningful connections with a wide range of stakeholders, including customers, suppliers, partners, government agencies, academia and start-ups, forms the foundation for our Open Innovation activities. By co-creating and collaborating within our ecosystem, we can significantly decrease the time span from innovation to market and respond to new market needs faster. This is amplified by co-creation activities with customers to ensure that all new products and solutions create maximum value, from the assembly line throughout the full asset lifecycle.
The Open Innovation approach is promoted via our increased presence in start-up activities globally. We regularly participate in a variety of start-up accelerators and we have invited partners to co-create, prototype, and validate new products and solutions in our new Smart Partner Campus. By working together with partners in Wärtsilä R&D centres, quick insights into the potential customer values can be identified. The Open Innovation approach brings together capabilities and resources from the ecosystem to accelerate the creation of industry-leading solutions.