Research is an investment, not an expense
by F. Peter Boer Abstract Commercial R&D, of which industrial catalysis is one branch, is typically a high-risk investment with a deferred payoff. It is mistaken to view it as a cost. And, as with other high-risk investments, returns can be extremely attractive. The value-creating potential for investment in industrial catalysis depends on two basic factors: technical opportunity and commercial opportunity. When both are aligned prospects are excellent.
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