Lummus Technology, a global provider of process technologies and value-driven energy solutions, and InnoVent Renewables, a leader in sustainable tyre recycling, has announced the signing of a master cooperation agreement (MCA) to jointly license and deploy InnoVent’s proprietary continuous tire pyrolysis technology worldwide
“This agreement marks the next phase of our partnership with InnoVent, as we work together to scale and advance a proven circular technology,” said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. “It also reflects our continued commitment to reducing tire waste and building on Lummus‘ legacy of collaborating with technology innovators to solve complex sustainability challenges.”
Earlier this year, Lummus and InnoVent signed an MOU, and the MCA establishes their strategic partnership. Under the MCA, Lummus becomes the exclusive licensor of InnoVent’s tyre pyrolysis technology, which converts end-of-life tyres into products like pyrolysis oil, gas, carbon black, and steel. The partnership will also combine Lummus‘ processing technologies to boost the value of fuel and chemical outputs.
“We are excited to move forward with Lummus in this next phase of our partnership,” said Vibhu Sharma, Chief Executive Officer of InnoVent Renewables. “Lummus’ complimentary portfolio of technologies and their global presence will be instrumental in scaling up and addressing the environmental and public health challenge posed by the more than one billion end-of-life tyres disposed each year.”
InnoVent’s technology is said to offer a scalable, end-to-end solution for converting ELT into sustainable fuels and high-value petrochemicals, from pre-processing through purification. The company currently operates a commercial facility in Monterrey, Mexico, capable of processing up to one million passenger tyres annually, with plans to expand capacity.
