Corning Receives Outstanding Corporate Innovator Award

Corning Incorporated announced the company has received the 2008 Outstanding Corporate Innovator Award by the Product Development & Management Association (PDMA), the leading global advocate for product development and innovation. Corning was recognized for the strength of its innovation strategy - a "recipe" for success that draws on long-standing materials and process knowledge, deep market understanding and an entrepreneurial, collaborative culture.

"We are delighted to receive this award for new product innovation, especially as Corning celebrates 100 years of research and development this year," said Dr. Joseph A. Miller, chief technology officer. "Corning has a long history of life-changing innovation, but the past three years alone have resulted in an exceptional period of invention with new product launches such as EAGLE XG(TM: 90.91, +1.31, +1.46%) glass substrates, Gorilla(TM: 90.91, +1.31, +1.46%) glass, ClearCurve(TM: 90.91, +1.31, +1.46%) optical fiber, and DuraTrap(R: 70.63, -0.74, -1.03%) diesel filters - all based on entirely new glass and ceramic compositions."

Corning´s strategy is focused on growth through innovation in new products and processes across five diverse business sectors and new business development. The "Magellan Process," highlighted as a best practice by PDMA, fosters dialogue with leading companies to help identify and screen market-driven ideas that could develop into next-wave opportunities, like mercury abatement to reduce emission from coal-fired power plants.

Other emerging technologies in the company´s R&D pipeline include green lasers (to enable portable projection); microreactors (to facilitate more efficient chemical processing); and silicon-on-glass technology (to create advanced displays).

"Corning´s sustained investment in R&D has produced a remarkable track record of innovation and continues to fuel our next wave of growth," said Miller. The company currently allocates 10% of revenues to R&D and recently began a $300 million expansion to its flagship research and development center at Sullivan Park in New York.