Lummus Technology, a global leader in process technologies and energy solutions, has signed a memorandum of understanding (MoU) with InnoVent Renewables to support the licensing and worldwide deployment of InnoVent’s continuous tire pyrolysis technology. The collaboration aims to convert end-of-life tires into renewable, high-value products on a global scale.
“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 tire recycling technology with Lummus’s 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 will serve as the exclusive licensor for InnoVent’s proprietary continuous tire pyrolysis technology, which converts end-of-life tires into valuable products such as pyrolysis oil, gas, recycled carbon black and steel. Lummus will also act as the licensor for comprehensive technology packages that combine InnoVent’s tire pyrolysis process with Lummus’s 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 one billion end-of-life tires that are disposed of annually,” added Vibhu Sharma, chief executive officer at InnoVent Renewables. “Together, we can transform waste into valuable resources, reduce carbon emissions and support the transition to a more sustainable future.”
