Latest news with #LummusTechnology
Trade Arabia
4 days ago
- Business
- Trade Arabia
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.'
Yahoo
6 days ago
- Business
- Yahoo
Lummus Completes Acquisition of NAPCON from Neste, Expanding Digital and AI Capabilities
Milestone strengthens Lummus' digital portfolio and accelerates AI-driven industrial solutions for customers HOUSTON, June 2, 2025 /PRNewswire/ -- Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the successful closing of its acquisition of the NAPCON portfolio, the digital technology business of Neste. Initially announced in April 2025, the transaction includes the transfer of Neste's NAPCON intellectual property, select assets and key personnel. In April, Lummus and Neste also entered into a Strategic Collaboration Agreement to ensure continued delivery of NAPCON services to Neste and its subsidiaries. "This is a pivotal moment as we officially integrate the NAPCON digital solutions into our portfolio and welcome many new talented individuals to our team," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. "The addition of these advanced, AI-driven solutions strengthen our leadership in the digital transformation of our industry. We are now better positioned to help customers improve operational safety, performance and sustainability through more comprehensive AI and data-driven technologies." The NAPCON suite and "games" system leverages AI, advanced process controls, automation and simulation software that enhances safety, efficiency and sustainability in industrial operations. The NAPCON software has been continuously developed to meet the high demands in process profitability and competitiveness of production assets. "Lummus Technology's acquisition of the NAPCON portfolio and its subsequent licensing to Lummus Digital marks a significant step in expanding our digital capabilities," said Amitabha Sinha, co-Managing Director of Lummus Digital. "This structure ensures that Lummus Technology remains at the forefront of innovation while empowering Lummus Digital to deliver cutting-edge, AI-driven solutions to our customers." The transaction and agreement involve several partners, including Lummus Technology, Neste, Lummus Digital and Ferroman Engineering Oy. Lummus Technology, through Lummus Digital and in partnership with Ferroman, will provide the NAPCON digital services to existing licensees. Lummus Digital, a joint venture between Lummus Technology and TCG Digital, combines process engineering expertise with advanced data science to deliver digital solutions to customers. Ferroman is a transatlantic provider of automation, AI-driven optimization, digital project execution and engineering solutions for the steel and process industries. About Lummus Technology Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide. To learn more about Lummus, visit View original content to download multimedia: SOURCE Lummus Technology, LLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
