Covestro launches "Future Cities Competition"

Partnering with China's Tongji University for the student competition

Identifying urban challenges to turn them into solutions

Covestro is the partner of choice to create sustainable cities

SHANGHAI,Aug. 5,2019 -- As rapid urbanization comes with increasing threats to our ecosystem,resolving these sustainability challenges has become key to the development of future cities. To encourage youth to explore solutions in response to urban needs,Covestro is launching the first "Future Cities Competition" as part of its Future Cities initiative,a global call for public discussion on urban development and a platform for implementing Covestro's vision to make the world a brighter place.

To encourage youth to explore solutions in response to urban needs,Covestro launches its first “Future Cities Competition” in its Asia Pacific Innovation Center in Shanghai on August 5.

As megacity development becomes a global trend,the urban environment is playing an increasingly large role in shaping our futures. Currently,most cities create more waste than can be naturally dissolved and use resources faster than can be regenerated,which creates a myriad of environmental risks. Future cities need to be regenerative,livable,smart,resilient and characterized by circular flows and new ways of sustainable value creation.

Materials manufacturer Covestro is investing in innovative sustainable solutions for developing future cities. Covestro is doing its best to drive a new type of urban development that is powered by renewable energy,circular economies,and mutually beneficial relationships between cities and their environments.

"At Covestro,we believe that our materials play a vital role in creating livable,circular,and resilient cities that lessen the impact on our environment. This is why we spare no effort to drive innovation for sustainable urban development," says Dr. Christian Haessler,Head of Global Sustainability at Covestro. "Engaging and inspiring the next generation to contribute to this is important to us. This is why we are actively reaching out to them and providing a platform where they can share their vision of Future Cities."

Future Cities Competition: Shanghai 2019

Jointly hosted by Covestro and long-term partner Tongji University,the competition will take place at Covestro's Asia Pacific Innovation Center in Shanghai from August 5-9,2019.

"For close to a decade,Covestro has been working with Tongji to train young talent to explore innovative and sustainable material solutions," says Dr. Michael Schmidt,Head of Innovation,Covestro Asia Pacific and Dean of the Covestro-Tongji Innovation Academy. "Through this competition,we look forward to gaining new insights as we accelerate towards tomorrow's smart living."

Competition participants will be tasked to build a prototype of a future city by utilizing Covestro materials and applying the Internet of Things (IoT) to future homes. As part of the Future Cities global initiative,the innovation ideas contributed through the competition will be used to inspire upcoming events in other regions.

The winning team from China will be invited to attend K 2019,the plastics trade fair in Düsseldorf,Germany,in October and visit Covestro's headquarters in Leverkusen. Winners may also receive job offers from Covestro.

About Covestro:

With 2018 sales of EUR 14.6 billion,Covestro is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive,construction,wood processing and furniture,and electrical and electronics industries. Other sectors include sports and leisure,cosmetics,health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 16,800 people (calculated as full-time equivalents) at the end of 2018.

This press release is available at www.covestro.cn. Please acknowledge the source of any pictures used.

Find more information at www.covestro.cn.

Forward-looking statements

This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks,uncertainties and other factors could lead to material differences between the actual future results,financial situation,development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Photo - https://photos.prnasia.com/prnh/20190805/2543116-1?lang=0