Forbes, a US based business magazine, has ranked Kone the 39th most innovative company in the world. Kone is the only elevator and escalator company to have been listed in the top 50.

Forbes magazine’s ranking is based on a metric called the “innovation premium”. This is a grade bestowed upon a company by the stock market because investors expect it to launch new offerings and enter new markets, effectively generating larger income streams.

The Forbes ranking demonstrates that innovation is one of the key factors to Kone’s success. The company has always invested in its R&D capabilities with a long term view. In 2010, Kone’s R&D expenses totaled EUR 70.9 million, representing 1.4% of net sales.

During the company’s 100-year history, Kone has proven its ability to adapt to a changing world as well as to create new opportunities for growth.

The Kone MonoSpace is just one example of Kone’s innovation. This elevator system eliminates the need for a machine room and consumes 70% less energy than a hydraulic drive and 40% less than a geared traction elevator drive. These figures make this elevator systems one of the most eco-efficient and space-efficient solutions available today.

With focus on key customer segments, Kone has introduced many new product and service enhancements in order to better meet their customers’ needs.

Additionally, in 2010 Kone achieved its 50 percent energy reduction target that was set in 2008 to further improve the energy efficiency of its volume elevators. This was achieved by developing eco-efficient hoisting machines, regenerative drives, LED lights, and standby solutions.

The list of world’s most innovative companies can be viewed on the Forbes website.

Kone is represented in Australia by Kone Elevators .