Refinity, Innventure’s Newest Company, Acquires Exclusive Rights to Novel Technology for Advanced Recycling of Mixed Plastic Waste from VTT Technical Research Centre of Finland
Refinity, the newest company from Innventure (NASDAQ: INV), has acquired global licensing rights from VTT Technical Research Centre of Finland for its advanced plastic waste conversion technology. The technology transforms hard-to-recycle plastic waste into petrochemical raw materials, including olefins like ethylene and propylene, with higher yields and lower CO2 emissions compared to conventional processes.
The company plans to commercialize the cost-effective conversion of mixed plastic wastes to chemical precursors, replacing fossil feedstock. Refinity will collaborate with VTT to optimize the technology for different plastic waste feedstocks, focusing on materials currently landfilled or incinerated. The company intends to integrate its manufacturing plants with existing petrochemical operations to achieve economic scalability.
Bill Grieco, Innventure's CTO, will serve as Refinity's CEO, while Adam Javan joins as COO. This development follows Innventure and Dow's recent announcement to collaborate on waste-to-value technologies through Refinity.
Refinity, la nuova azienda di Innventure (NASDAQ: INV), ha acquisito i diritti di licenza globale dal VTT Technical Research Centre of Finland per la sua avanzata tecnologia di conversione dei rifiuti plastici. Questa tecnologia trasforma i rifiuti plastici difficili da riciclare in materie prime petrolchimiche, inclusi olefini come etilene e propilene, con rese più elevate e minori emissioni di CO2 rispetto ai processi convenzionali.
L'azienda prevede di commercializzare la conversione economica dei rifiuti plastici misti in precursori chimici, sostituendo le materie prime fossili. Refinity collaborerà con VTT per ottimizzare la tecnologia per diverse materie prime di rifiuti plastici, concentrandosi su materiali attualmente destinati a discariche o incenerimento. L'azienda intende integrare i propri stabilimenti di produzione con le operazioni petrolchimiche esistenti per ottenere scalabilità economica.
Bill Grieco, CTO di Innventure, ricoprirà il ruolo di CEO di Refinity, mentre Adam Javan si unisce come COO. Questo sviluppo segue l'annuncio recente di Innventure e Dow di collaborare su tecnologie di valorizzazione dei rifiuti attraverso Refinity.
Refinity, la nueva empresa de Innventure (NASDAQ: INV), ha adquirido los derechos de licencia global del VTT Technical Research Centre of Finland para su avanzada tecnología de conversión de residuos plásticos. La tecnología transforma residuos plásticos difíciles de reciclar en materias primas petroquímicas, incluyendo olefinas como etileno y propileno, con mayores rendimientos y menores emisiones de CO2 en comparación con los procesos convencionales.
La empresa planea comercializar la conversión económica de residuos plásticos mixtos en precursores químicos, reemplazando las materias primas fósiles. Refinity colaborará con VTT para optimizar la tecnología para diferentes materias primas de residuos plásticos, centrándose en materiales actualmente enviados a vertederos o incinerados. La empresa tiene la intención de integrar sus fábricas con las operaciones petroquímicas existentes para lograr una escalabilidad económica.
Bill Grieco, CTO de Innventure, será el CEO de Refinity, mientras que Adam Javan se unirá como COO. Este desarrollo sigue al anuncio reciente de Innventure y Dow de colaborar en tecnologías de desecho a valor a través de Refinity.
Refinity는 Innventure (NASDAQ: INV)의 최신 회사로, 핀란드 VTT 기술 연구 센터로부터 고급 플라스틱 폐기물 전환 기술에 대한 글로벌 라이센스를 인수했습니다. 이 기술은 재활용하기 어려운 플라스틱 폐기물을 석유 화학 원재료로 전환하며, 에틸렌 및 프로필렌과 같은 올레핀을 포함하고, 기존 공정에 비해 더 높은 수율과 낮은 CO2 배출량을 자랑합니다.
회사는 혼합 플라스틱 폐기물을 화학 전구체로 경제적으로 변환하여 화석 원료를 대체할 계획입니다. Refinity는 VTT와 협력하여 다양한 플라스틱 폐기물 원료에 맞게 기술을 최적화할 예정이며, 현재 매립되거나 소각되는 물질에 중점을 둘 것입니다. 회사는 기존 석유 화학 운영과 제조 시설을 통합하여 경제적 확장성을 달성할 계획입니다.
Bill Grieco는 Innventure의 CTO로서 Refinity의 CEO를 맡게 되며, Adam Javan은 COO로 합류합니다. 이 개발은 Innventure와 Dow가 Refinity를 통해 폐기물-가치 기술을 협력하겠다고 최근 발표한 후속 조치입니다.
Refinity, la nouvelle entreprise d'Innventure (NASDAQ: INV), a acquis les droits de licence mondiaux du VTT Technical Research Centre of Finland pour sa technologie avancée de conversion des déchets plastiques. Cette technologie transforme les déchets plastiques difficiles à recycler en matières premières pétrochimiques, y compris des oléfines comme l'éthylène et le propylène, avec des rendements plus élevés et des émissions de CO2 plus faibles par rapport aux processus conventionnels.
L'entreprise prévoit de commercialiser la conversion économique des déchets plastiques mixtes en précurseurs chimiques, remplaçant ainsi les matières premières fossiles. Refinity collaborera avec VTT pour optimiser la technologie pour différentes matières premières de déchets plastiques, en se concentrant sur des matériaux actuellement mises en décharge ou incinérés. L'entreprise a l'intention d'intégrer ses usines de fabrication avec les opérations pétrochimiques existantes afin d'atteindre une évolutivité économique.
Bill Grieco, CTO d'Innventure, sera le PDG de Refinity, tandis que Adam Javan rejoint l'équipe en tant que COO. Ce développement fait suite à l'annonce récente d'Innventure et de Dow concernant leur collaboration sur les technologies de valorisation des déchets via Refinity.
Refinity, das neueste Unternehmen von Innventure (NASDAQ: INV), hat die globalen Lizenzrechte vom VTT Technical Research Centre of Finland für seine fortschrittliche Technologie zur Umwandlung von Plastikabfällen erworben. Die Technologie verwandelt schwer recycelbare Kunststoffabfälle in petrochemische Rohstoffe, einschließlich Olefine wie Ethylen und Propylen, mit höheren Ausbeuten und geringeren CO2-Emissionen im Vergleich zu herkömmlichen Verfahren.
Das Unternehmen plant, die kostengünstige Umwandlung von Mischkunststoffabfällen in chemische Vorprodukte zu kommerzialisieren und damit fossile Rohstoffe zu ersetzen. Refinity wird mit VTT zusammenarbeiten, um die Technologie für verschiedene Kunststoffabfallströme zu optimieren, wobei der Fokus auf Materialien liegt, die derzeit auf Deponien oder in Müllverbrennungsanlagen landen. Das Unternehmen beabsichtigt, seine Produktionsstätten mit bestehenden petrochemischen Betrieben zu integrieren, um wirtschaftliche Skalierbarkeit zu erreichen.
Bill Grieco, CTO von Innventure, wird als CEO von Refinity tätig sein, während Adam Javan als COO hinzukommt. Diese Entwicklung folgt auf die jüngste Ankündigung von Innventure und Dow, über Refinity an Abfall-zu-Wert-Technologien zusammenzuarbeiten.
- Acquired exclusive global rights to advanced plastic waste conversion technology
- Technology offers higher yields and lower CO2 emissions compared to conventional processes
- Plans to integrate with existing petrochemical operations for economic scalability
- Strategic partnership with Dow for commercialization
- Technology still requires optimization and scaling up
- Commercial viability yet to be proven at industrial scale
Insights
The acquisition of VTT's advanced plastic recycling technology represents a significant technological breakthrough in the chemical recycling space. The fluidized bed conversion process offers two critical advantages: higher yields and lower CO2 emissions compared to conventional thermochemical processes. Integration with existing petrochemical operations could substantially reduce capital expenditure requirements, potentially making this technology commercially viable at scale.
The technology's ability to process minimally sorted plastic waste is particularly valuable, as it addresses a major pain point in current recycling operations. By converting hard-to-recycle plastics into olefins like ethylene and propylene, which are fundamental building blocks for the petrochemical industry, Refinity could tap into a <money>$150 billion</money> global market while helping solve the plastic waste crisis.
The partnership between Innventure, Dow and VTT creates a powerful ecosystem for commercializing this waste-to-value technology. The direct conversion of mixed plastic waste to petrochemical raw materials could revolutionize the circular economy for plastics. The technology's ability to process difficult-to-recycle materials that typically end up in landfills or incinerators addresses a critical environmental challenge while creating economic value.
The strategic integration with existing petrochemical infrastructure suggests a well-thought-out scaling strategy that could accelerate market adoption. This could position Innventure to capture a significant share of the growing sustainable chemicals market, estimated to reach <money>$165 billion</money> by 2030.
This exclusive global licensing deal significantly strengthens Innventure's competitive position in the sustainable chemicals market. With a market cap of <money>$626.7M</money>, this technology acquisition could be a major growth catalyst. The appointment of experienced leadership with relevant industry expertise, including Bill Grieco's 25-year track record and Adam Javan's successful IPO experience, adds credibility to the commercialization strategy.
The collaboration with Dow provides important industry validation and potential access to established distribution channels. The focus on economic viability through integration with existing infrastructure suggests a pragmatic approach to scaling, which could accelerate time to market and reduce implementation risks.
Recently, Innventure and Dow announced plans to collaborate to develop and commercialize new waste-to-value technologies through Refinity.
ORLANDO, Fla. and ESPOO, Finland, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Refinity, the newest company launched by Innventure, Inc. (NASDAQ: INV), announced today the global licensing of rights from VTT Technical Research Centre of Finland for its proprietary fluidized bed advanced plastic waste conversion technology. Refinity plans to use the licensed technology to commercialize the cost-effective conversion of mixed plastic wastes to chemical precursors, required in all petrochemical production, to replace fossil feedstock used for the precursors.
Refinity will work with VTT to optimize the technology for conversion of different plastic waste feedstocks to sustainable chemicals that will replace fossil-derived chemicals. The work will focus on increasing yield of sustainable chemicals from plastic wastes that are not suitable for conventional thermochemical conversion or mechanical recycling and that are currently landfilled or incinerated. Refinity plans to scale up and deploy the technology in future commercial plastic waste-to-value conversion facilities.
VTT's innovative technology transforms hard-to-recycle minimally sorted plastic waste directly into drop-in petrochemical raw materials, including olefins such as ethylene and propylene, and has been demonstrated at pilot scale. Compared to conventional thermochemical processes, the innovative process concept offers the conversion of mixed plastic waste into petrochemical precursors with higher yields and lower carbon dioxide emissions using easily scalable industrial process units. Refinity expects to integrate its manufacturing plants with existing petrochemical operations, unlocking economics needed to support scalability to reshape the recycling landscape.
Bill Grieco, who currently serves as Innventure’s Chief Technology Officer, will take the helm of Refinity as CEO. Grieco is an entrepreneur, innovator, and business leader who has spent the last 25 years leading R&D and commercialization organizations in the chemical, pharmaceutical, clean tech, and specialty materials industries. He holds a Ph.D. and Master’s degree from M.I.T., and a Bachelor’s degree from Georgia Tech, all in chemical engineering.
Adam Javan will join Refinity as COO. Javan is a Serial CXO for Innventure and is a seasoned executive with over 25 years of running businesses at blue chip companies as well as startups. Prior to Innventure, Javan served as Chief Strategy Officer of a biotech startup company, leading to a successful public offering in 2021. Javan has an MBA from the University of Michigan’s Ross School of Business and a Master’s degree in chemical engineering from the Royal Institute of Technology, Stockholm, Sweden.
“This is an important next step in the development and deployment of a differentiated waste conversion process globally,” said Bill Haskell, CEO of Innventure. “With their keen expertise and knowledge, I’m excited to see what Bill and Adam can achieve with Refinity and look forward to witnessing Refinity’s ongoing collaboration with VTT and Dow.”
“We are excited to collaborate with Refinity to commercialize our thermochemical conversion technology, delivering an economically viable waste-to-value solution for a sustainable future. This technology builds on decades of dedicated research and development at VTT. It is truly rewarding to see our innovations being implemented globally through this technology transfer,” said Tua Huomo, Executive Vice President of VTT.
About Innventure
Innventure (NASDAQ: INV) founds, funds, and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. As owner-operators, Innventure takes what it believes to be breakthrough technologies from early evaluation to scaled commercialization utilizing an approach designed to help mitigate risk as it builds disruptive companies it believes have the potential to achieve a target enterprise value of at least
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About VTT Technical Research Centre of Finland Ltd
VTT is one of Europe’s leading research institutions and is owned by the Finnish state. VTT advances the utilization and commercialization of research and technology in commerce and society. Through scientific and technological means, the company turns large global challenges into sustainable growth for businesses and society, bringing together people, business, science and technology to solve the biggest challenges of our time. https://www.vttresearch.com/en
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FAQ
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