SEATTLE, April 22, 2015 /PRNewswire/ -- Intellectual Ventures, the global leader in the business of invention, and China Vanke Co., Ltd., China's largest residential property developer, today announced their intent to partner on environmental inventions to advance the sustainability and quality of life of communities and cities. The two companies made the announcement at an international conference attended by Seattle Mayor Ed Murray, Shenzhen Vice-Mayor Tang Jie, and leaders from more than 60 companies based in China and Washington State, as well as Earth Day founder and green building pioneer Denis Hayes.
Intellectual Ventures and Vanke plan to collaborate in support of a new 'open innovation center' that will identify, develop, and commercialize technologies for green buildings and other solutions that reduce the carbon footprint of urban areas.
"Vanke is committed to the new open innovation center project. We value our partnership with Intellectual Ventures because they bring a unique set of knowledge and expertise to this global innovation effort," said Vanke Chairman Wang Shi. "This collaboration will open up new space for Vanke and Chinese industry to be inspired and activated."
"Our mission is to increase the velocity of innovation to address today's great challenges," said Edward Jung, Intellectual Ventures founder and Chief Technology Officer. "Our relationship with Vanke – a committed innovator in sustainable urban development – is another example of how Intellectual Ventures is collaborating with companies around the world to build a sustainable future."
Washington State Governor Jay Inslee applauded the announcement. "The Intellectual Ventures / Vanke relationship is an excellent example of how Washington State's clean technology leadership can be a valuable contributor to China's development, and to a low-carbon future for us all," the governor said.
The companies are currently discussing the evaluation of novel green technologies for building construction and water conservation, and expect to expand the effort later this year.
About China Vanke Co., Ltd.
Founded in May, 1984, China Vanke Co., Ltd began property development in 1988 and is now the largest home developer in China. Vanke's business covers 69 cities both in China and the rest of the world, with over 40,000 employees. For the past 30 years, Vanke has gained a reputation for providing premium quality housing and services for over 600,000 households. During 2014, Vanke's sales floor area and value of commodity housing in China amounted to 18,064,000 square meters and US$ 35 billion, representing year-on-year increases of 21.2% and 25.9%.
The mission of Vanke goes beyond just being a real estate developer. As it is stated in Vanke motto, "Our tribute to life," Vanke strives to continue providing sustainable, premium quality housing, services and community to enhance people's happiness and well-being through the integration of building technology, humanity and environmental protection. At the same time, Vanke has always been contemplating what role it will play as a listed company with corporate responsibility in order to address global issues such as climate change, environmental risks and the uncertainties of the future.
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies and invests both expertise and capital in the process of invention. IV's mission is to energize and streamline an invention economy that will drive innovation around the world.
Intellectual Ventures' commitment to the environment and sustainable technology has been demonstrated through a continuous investment in green technology development. Internal research efforts in clean energy generation, energy efficiency, and waste water recovery have resulted in multiple successfully launched clean-tech companies. The company has an active program to deliver to partners a continuous stream of green innovations from both internal research and the research efforts of a network of more than 4,000 collaborating inventors and institutions.
SOURCE Intellectual Ventures