Bayer Environmental Science Professional business has announced it will be renamed Envu.
Envu will be a standalone company, contingent on the successful close of Cinven’s acquisition of the business from Bayer, the company said in a statement today (Wednesday, August 17).
The name is derived from the words ‘environment’ and ‘vision’ and is pronounced ‘ehn-view’.
“As a trusted industry leader, we know that ensuring continued customer success requires strong partnerships and a renewed perspective,” said Gilles Galliou, president of the Environmental Science Professional business, and future CEO of the new standalone company.
“That’s why Envu will be dedicated to bringing customers innovative solutions to help them push their business forward and tackle the toughest challenges our environments face today.
“The fact that our new company will be focused solely on environmental science will allow us to solve problems faster, smarter and more efficiently,” said Galliou.
From now until the divestment transaction officially closes, the organisation will remain the Environmental Science Professional business, the company said.
Impact investment unit
Last April, Bayer announced plans to invest €1.3 billion in its impact investment unit over the next three years, which will drive innovation in sustainable agriculture and aid food security.
The unit known as ‘Leaps by Bayer’, is tackling 10 of society’s biggest challenges including reducing the environmental impact of the agricultural sector and creating a more resilient food system.
At the company’s ‘Breakthrough Innovation Forum’ on April 1, a number of experts and executives from the company outlined how forthcoming innovations will provide a number of farming solutions “to make agriculture more sustainable and less resource intensive”.
The company has already invested more than €1.3 billion in 50 different companies across the agricultural and life sciences sectors. One such innovation as a result of this previous investment is a ‘Smart Corn System’.
