Lummus, InnoVent sign tyre pyrolysis technology deal
Lummus Technology, a global provider of process technologies and value-driven energy solutions, and InnoVent Renewables have signed a memorandum of understanding (MoU) to work toward licensing and deploying InnoVent's continuous tyre pyrolysis technology globally.
'This is another significant step in expanding and strengthening our portfolio for the circular economy,' said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. 'By combining InnoVent's tyre recycling technology with Lummus' global licensing and engineering expertise, we will be addressing the global challenge of waste tires and creating new pathways for sustainable product development.'
Under an agreement outlined in the MoU, once finally negotiated, Lummus would serve as the exclusive licensor for InnoVent's proprietary continuous tire pyrolysis technology, which converts end-of-life tyres into valuable products such as pyrolysis oil, gas, recycled carbon black and steel. Lummus would also act as the licensor for comprehensive technology packages that combine InnoVent's tire pyrolysis process with Lummus' downstream technologies to increase the value of fuel and chemical outputs.
'Partnering with Lummus has the potential to accelerate the global deployment of our technology and help us address the environmental and public health challenges of 1 billion end-of-life tires that are disposed of annually,' said Vibhu Sharma, Chief Executive Officer, InnoVent Renewables. 'Together, we can transform waste into valuable resources, reduce carbon emissions and support the transition to a more sustainable future.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
a day ago
- Trade Arabia
RESILIENCE OF BUSINESS Mott MacDonald's global revenue in 2024 soars to record $3.3bn
Mott MacDonald, a leading engineering, development and management consultancy, has reported another year of growth with its revenue for 2024 hitting £2.5 billion ($3.3 billion) across its global regions for the first time, up 6.1% over the previous year.
Trade Arabia
2 days ago
- Trade Arabia
NEOM port welcomes first remote-controlled STS cranes
Saudi Arabia's futuristic city NEOM has annnounced that its key sustainable port has achieved a major milestone by welcoming the first fully automated, remote-controlled Ship-To-Shore (STS) and Electric Rubber-Tyred Gantry (eRTG) cranes into KSA. Strategically located on the Red Sea, one of the world's busiest maritime corridors, Port of NEOM is already serving as a critical gateway on the East–West trade route. The newly arrived state-of-the-art cranes will play a critical role in the port's automation strategy, unlocking the potential for high-volume, high-efficiency operations. Importantly, their remote-control capability allows for a future-ready workforce model, where operators can manage equipment from secure, ergonomic environments. Development of Port of NEOM continues at pace ahead of the 2026 opening of Terminal 1, a next-generation container terminal, with recent infrastructure milestones including the completion of a 900-m quay wall and the deepening of the port channel to 18.5 m - enabling the world's largest vessels transiting the Suez Canal to call at Port of NEOM. Terminal 1 will also feature horizontal transport automation as part of the broader goal to achieve full automation, said a statement from NEOM. Once operational, these technologies will significantly expand the port's logistics capacity, driving regional industrial growth, opening access to global markets, enhancing supply chain resilience and unlocking business opportunities, it stated. Sean Kelly, Managing Director of Port of NEOM, said: "The arrival of our first automated cranes marks a tangible milestone as we lay the foundations for an advanced, future-ready port." "We're not only accelerating industrial growth in northwest Saudi Arabia, but we're also setting a new benchmark for performance, efficiency, innovation and establishing a vital trade gateway for the kingdom and the region beyond," he stated. In parallel with its investments in infrastructure and automation, Port of NEOM is also committed to developing local talent, including training Saudi women to take on high-tech roles. Central to this effort is a pioneering initiative to train the next generation of Production Specialists to gain the skills to become remote crane operators, thereby helping shape a more inclusive future for the logistics and industrial sectors, he added. Ten participants from the Tabuk region are currently enrolled in an intensive two-year program that blends technical instruction and hands-on training with dedicated mentorship. Hajjer Alatawi, a trainee participating in the program, said: "This experience has shown me that port logistics is far more complex than just moving cargo; it's about teamwork, precision and responsibility." "Saudi women entering this space gives me hope for a future where industries are defined by skills, not gender," stated Alatawi.
Trade Arabia
3 days ago
- Trade Arabia
Dubai Airports to launch final phase of lighting retrofit project
Dubai Airports has signed an agreement with Etihad Energy Services Company (Etihad Esco) to launch the final phase of its airport-wide lighting retrofit project, a key milestone in its ongoing sustainability agenda and a major step towards energy-efficient operations at both of Dubai's airports. Etihad Esco is a wholly owned subsidiary of Dubai Electricity and Water Authority (Dewa). This newly signed phase will see over 180,000 conventional lighting fixtures replaced with energy-saving alternatives across Dubai International (DXB) and Dubai World Central – Al Maktoum International (DWC), with Concourse A at DXB being the largest single area covered. Combined with the first phase completed earlier and covering 150,000 lighting units at DXB, the project will upgrade more than 330,000 lighting units in total, making it one of the most extensive airport lighting retrofit initiatives in the region, said the statement from Dubai Airports. The project is expected to cut annual energy consumption by 47 million kilowatt-hours (kWh), equivalent to powering over 4,300 homes for an entire year, a significant result that highlights the real-world impact of operational sustainability. The initiative will also deliver annual cost savings of more than AED20 million, contributing to Dubai Airports' efforts to optimise efficiency while supporting Dubai's wider environmental targets. On the strategic deal, Saeed Mohammed Al Tayer, MD & CEO of Dewa, said: "Aligned with the UAE's commitment to climate change resilience and sustainable growth, we are dedicated to supporting Dubai's journey towards a green economy." "This aligns with the Dubai Clean Energy Strategy 2050 and the Dubai Net-Zero Carbon Emissions Strategy 2050. The partnership between Dubai Airports and Etihad Esco is a prime example of our collective efforts to promote energy efficiency, reduce emissions and advance Dubai's Clean Energy Strategy," stated Al Tayer. "Through initiatives like this large-scale retrofit, we are actively building a greener, more resilient future to support our country's needs and ambitions," he added. Dubai Airports CEO Paul Griffiths said: "In partnership with Etihad Esco and Dewa, this project highlights the power of collaboration in achieving measurable sustainability results. Airports are significant energy consumers, and that gives us both the opportunity and the responsibility to lead meaningful change." "This lighting project goes beyond efficiency upgrades; it is about embedding sustainability into the core of our day-to-day operations. Every kilowatt-hour saved moves us closer to reducing our environmental impact and building a more resilient future. It sets the benchmark for what a truly sustainable airport can and should achieve," he added. Etihad Energy Services Company CEO Dr Waleed Alnuaimi said: "We are driven by the mission to transform Dubai's infrastructure as an outstanding example of energy efficiency and sustainability." "This final phase of the lighting retrofit project with Dubai Airports is a testament to how strategic partnerships and innovative solutions can deliver measurable impact – from substantial energy savings to a reduced carbon footprint. It reaffirms our shared vision of making Dubai a global leader in sustainable development," he stated. Dubai Airports said the installation work is scheduled to begin later this year and conclude by the second half of 2027.
