Lummus Technology, a provider of process technologies and value-driven energy solutions, announced a strategic investment in InnoVent Renewables to accelerate deployment of its proprietary tire recycling technology.
“Investing in InnoVent reinforces our commitment to advancing sustainable,
circular technologies that solve real environmental challenges,” said Leon de
Bruyn, President and CEO of Lummus Technology. “Our collaboration has already
demonstrated strong technical and commercial synergy, and this investment will
accelerate global adoption of a proven recycling solution.”
It is estimated that over one billion tires end up in landfills every year.
To address this, InnoVent’s technology
offers a scalable, end-to-end solution for converting end of life tires into
high-value products such as tire pyrolysis oil, recovered carbon black,
pyrolysis gas and steel, from pre-processing through purification.
“InnoVent is thrilled to expand our strategic partnership with Lummus,” said
Vibhu Sharma, CEO of InnoVent Renewables. “Lummus’ global reach and technology
leadership will help us scale rapidly and bring our solution to markets that
urgently need sustainable, high value alternatives to traditional tire
disposal.” -TradeArabia News Service
