Information Technology
SKF launches The Patent Bay - a platform for sharing technologies that could reduce environmental impact
"Innovation is essential for a sustainable future, and history shows that real breakthroughs happen when we share. The Patent Bay is our way of unlocking that potential—creating ripple effects across industries and society," says , President and CEO.
The launch comes at a time when global patent filings are at an all-time high. According to the World Intellectual Property Organization, 3.55 million patent applications were filed globally in 2023—more than double the number in 1995. While this reflects a strong innovation climate, it also highlights the growing challenge of access and collaboration.
"In today's complex world, openness and collaboration are more important than ever. At SKF, we believe that sharing is part of the solution. Through The Patent Bay, we want to inspire others to do the same—because real change is created together," says .
The first patent released on the platform is a high-performance bearing alloy developed for the aviation industry.
"This new bearing material can handle higher loads in a more compact form, enabling high performance bearing solutions for new architectures of engines designed to reduce emissions by up to 25 percent. The same technology opens door to further innovation, where efficiency and sustainability are key," says , Technology Innovation Manager at SKF.
The Patent Bay is now live and accessible to companies and innovators committed to technologies with the potential to advance sustainability.
Karin Markhede; +46 707 588 730; karin.markhede@skf.com
Information about the Patent Bay: https://skf.li/dhk5ho
Download press kit here: https://www.skf.com/group/fighting-friction/02
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Aktiebolaget SKF
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Since 1907, SKF has been making some of the world's most innovative bearings, seals, lubrication systems, condition monitoring solutions, and services to reduce friction. SKF is represented in approximately 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2024 were SEK 98,722 million and the number of employees was 38,743. www.skf.com
® SKF is a registered trademark of the SKF Group.
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