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Global | 25 Jul 2021

Ormazabal, a key player in the development process of R&D in Euskadi

 

According to a report published by Innobasque, Ormazabal is among the 15 companies that contribute most to the Basque R&D.

Ormazabal reinforces its innovative role following the publication of a report by Innobasque (Basque Innovation Agency) which certifies its important contribution to the development of R&D in the Basque Country. This report tells the investment in innovation and development is 1,543 million euros in 2020 - increasing 4.1% respecting the previous year – it certifies Ormazabal as one of the key players in R&D in the Basque Country, being one of the leading and anchor companies in this area. According to this dossier, the year 2021 will also mark a new record in terms of Basque innovation, reaching 1,607 million euros in investment -an amount close to 2% of the region's Gross Domestic Product.

Ormazabal is located on the innovation map alongside leading companies in their sectors such as Aernnova, CIE Automotive, Corporación Mondragon and Ideko, Faes Farma, Gestamp, Grupo Arteche, Iberdrola, Ingeteam, Irizar, ITP, Sener, Sidenor, Siemens Gamesa and Tubacex. These companies are responsible for 25% of all R&D with a Basque signature, as well as 45% of private investment in the Autonomous Community (without taking into account technology centers or cooperative research centers), which means an average investment of 400 million euros each year.
 

Innovation, part of Ormazabal's DNA

Ormazabal's commitment to innovation is a fundamental part of its business activity, for which it invests around 4% of its turnover in R&D every year, which translates into more than 18 million euros in 2020.