Lummus Technology, a global provider of process technologies and value-driven energy solutions, and Innovent Renewables announced the signing of a Memorandum of Understanding (MoU) to work toward licensing and deploying Innovent’s continuous tyre pyrolysis technology globally.
Under an agreement outlined in the MoU, once finally negotiated, Lummus would serve as the exclusive licensor for Innovent’s proprietary continuous tyre 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 tyre pyrolysis process with Lummus’ downstream technologies to increase the value of fuel and chemical outputs.
Innovent says its technology offers a scalable, end-to-end solution for converting waste tyres into renewable fuels and high-value petrochemicals, from pre-processing through purification. The company operates a commercial facility in Monterrey, Mexico, capable of processing up to 1 million passenger tyres/year, with the ability to add additional capacity.
“This is another significant step in expanding and strengthening our portfolio for the circular economy,” said Leon de Bruyn, President/CEO 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 tyres and creating new pathways for sustainable product development.”
“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 tyres that are disposed of annually,” said Vibhu Sharma, CEO, Innovent Renewables. “Together, we can transform waste into valuable resources, reduce carbon emissions and support the transition to a more sustainable future.”