Innovation Initiatives and Executive Appointment

28 August 2025 - Zotefoams, a world leader in supercritical foams, today announces three important initiatives to drive the planned acceleration of its innovation capabilities.

The creation of a Global Innovation Hub in the UK, the establishment of a dedicated Footwear Innovation Centre in South Korea and the appointment of its first Chief Strategy and Innovation Officer form part of a coordinated approach to innovation globally. The accompanying investment of £6.8 million over the next three years is reflected in existing market guidance and will strengthen the Group's competitive positioning and advance its Expanding Beyond the Core growth strategy.

Global Innovation Hub

Zotefoams will establish its Global Innovation Hub within the company's historic Croydon site, where it has operated continuously since 1935. The £4.5 million investment will create a state-of-the-art innovation facility that will serve as the global centre for breakthrough foam technologies and next-generation product development.

This co-location strategy leverages existing infrastructure, reduces operational costs, and enables seamless collaboration between R&D teams and manufacturing expertise.

The Global Innovation Hub will accelerate the development of advanced foam solutions across Zotefoams' three core markets: Consumer & Lifestyle, Transport & Smart Technologies, and Construction & Industrial applications.

Footwear Innovation Centre

Zotefoams is establishing a Footwear Innovation Centre in Busan, South Korea, targeting the rapidly growing athletic footwear market. South Korea represents one of the world's largest footwear innovation hubs, with major global brands maintaining significant R&D and manufacturing operations in the region.

The Busan facility, which is a further £2.3 million investment, will operate as a specialised spoke of the Global Innovation Hub, enabling rapid development and deployment of next-generation footwear foam technologies. Led by an experienced Korean executive with deep expertise in both footwear design and foam applications, the centre will enhance customer collaboration and accelerate growth in one of Zotefoams' fastest-expanding markets.

This hub-and-spoke model places Zotefoams closer to key Asian customers and partners, reducing development cycles and strengthening competitive positioning in the global footwear market.

Senior Leadership Appointment

To strengthen leadership of innovation and strategic projects, Zotefoams has appointed Simon Comer as its first Chief Strategy & Innovation Officer, expanding on his previous role as Group Strategy & Delivery Director. In his new role, Simon will oversee the Innovation & Development team, the Results Delivery Office and corporate development, ensuring innovation is aligned with disciplined execution in support of the Group's strategic priorities.

Ronan Cox, Group CEO of Zotefoams, commented:

"These initiatives represent a step change in our innovation capabilities and global reach. Our Global Innovation Hub will serve as the worldwide engine for breakthrough technologies, while our Footwear Innovation Centre in South Korea places us at the heart of one of the world's most dynamic athletic footwear markets.

"The appointment of Simon Comer as our first Chief Strategy & Innovation Officer ensures we have the leadership structure to translate innovation into sustainable competitive advantage. Together, these investments position Zotefoams strongly for our next phase of profitable growth."

AZOTE®, ZOTEK® and T-FIT® are registered trademarks of Zotefoams plc.