- Publish the 3rd sustainability report and self-disclose to DART electronic disclosure system
- Disclose key achievement of 5 sustainability focus areas for communicating with stakeholders
- Systematize Noul Hybrid Business Model that creates both business and social values in an integrated way
Noul Co., Ltd., (376930.KR), an Artificial Intelligence (AI) based decentralized diagnostic platform company, has released its 2022-2023 Sustainability Report, including corporate efforts and achievements in implementing sustainability. Noul has also self-disclosed the report to the DART electronic disclosure system on July 27. Since 2020, Noul has issued a sustainability report every year, transparently disclosing to the stakeholders corporate activities and performances in the economic, social and environmental sector according to the company’s growth stage.
As the range of stakeholders expands due to KOSDAQ listing and product’s global market entry, Noul defined 5 Sustainability Focus Areas: Improvement in Access to Healthcare, Compliance, Ethics and Risk Management, Sound and Sustainable Governance, Responsible and Inclusive Workplace, Protecting the Planet, and disclosed its achievements in each area to strengthen communication with key stakeholders.
Among the 5 Sustainability Focus Areas, there were notable achievements in the area of ‘Improvement in Access to Healthcare’ related to products and businesses. Regarding the miLab™ Platform, there was progress in the development of two new cartridge models for blood cell morphology analysis (miLab™ Cartridge BCM) and cervical cell analysis (miLab™ Cartridge CER), as well as the acquisition of CE marking (IVDD DoC) for these cartridges. In terms of business, major achievements were entering markets into 10 countries in Africa, Latin America, and Europe, and receiving research funds from the RIGHT Foundation to commercialize malaria diagnostic platforms. In addition, selecting a project to explore novel cancer profiling technology, and signing research partnerships with organizations under the Cameroonian and Ghanaian governments were also mentioned as the achievements.
Furthermore, what stands out in the report is Noul Hybrid Business Model, which explains how Noul’s products can solve problems faced by customers and markets, and what utility they can give. This model has a meaning in offering a structured view of how Noul’s business activities contribute to social impact generation.
David Lim, a CEO of Noul, said, “The value of sustainability that we have pursued from day one has now moved beyond our initial aspirations to become the principle of our organizational operations, the standard of our HR policy, the driver of our technology innovation, and the strategy of our business growth at every level of our organization. Noul will keep integrating business and social values in balance and plan to create achievements for the next level of growth. Building on such achievements, we will make tangible results in global sales and business expansion from 2023.”
Meanwhile, Noul makes management decisions based on the articles of association based on the philosophy of sustainability. By disclosing annual sustainability improvement plans and implementation results through sustainability report, Noul also strives to communicate responsibly with stakeholders, including investors, shareholders, customers, cooperative partners, and employees, who are participating in Noul’s mission.
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