Lummus Technology and InnoVent Renewables 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 tyres and creating new pathways for sustainable product development.”
MoU underlines an agreement which, once finally negotiated, would let Lummus serve as the exclusive licensor for InnoVent’s proprietary continuous tyre pyrolysis technology, which converts end-of-life tyres into 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 its downstream technologies to increase the value of fuel and chemical outputs.
InnoVent Renewables operates a commercial facility in Monterrey, Mexico, capable of processing up to 1 million passenger tyres annually, with the ability to add additional capacity.
“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, 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.”
