Lummus invests in InnoVent to advance global tire recycling operations

Houston, Texas – Lummus Technology has announced a strategic investment in InnoVent Renewables aimed at accelerating the global deployment of InnoVent’s continuous tire pyrolysis technology.

The investment, the amount of which was not disclosed, follows a partnership agreement between the two companies, announced late last year.

As part of that agreement, Lummus was granted exclusive global licensing rights for InnoVent's pyrolysis technology.

The collaboration between the two US-based companies also included integrating Lummus’ downstream processing technologies to upgrade the liquid and chemical outputs.

As part of the recent investment, Lummus will leverage its “extensive licensing network, advanced process technologies and engineering expertise to globally scale the technology,” the company said in a 21 Jan statement.

InnoVent currently operates a commercial facility in Monterrey, Mexico, capable of processing up to one million passenger tires annually.

Lummus said its investment will help expand processing capacity at the facility and support the technology's commercial viability.

"Investing in InnoVent reinforces our commitment to advancing sustainable, circular technologies that address real environmental challenges," said Leon de Bruyn, president and chief executive officer of Lummus Technology.

The companies’ collaboration to date, he added, has demonstrated “strong technical and commercial synergy, and this investment will accelerate global adoption of a proven recycling solution."