Core Viewpoint - Innventure and Dow are collaborating to develop and commercialize new waste-to-value technologies through Refinity, focusing on converting mixed plastic waste into chemical precursors to replace fossil feedstock [1][2]. Company Overview - Refinity is a newly launched company by Innventure, which has licensed proprietary fluidized bed advanced plastic waste conversion technology from VTT Technical Research Centre of Finland [1][2]. - Bill Grieco, with 25 years of experience in R&D and commercialization in various industries, will serve as CEO of Refinity [4]. - Adam Javan, a seasoned executive with over 25 years of experience, will join Refinity as COO [5]. Technology and Innovation - The technology licensed from VTT allows for the conversion of hard-to-recycle plastic waste into petrochemical raw materials, including olefins like ethylene and propylene, with higher yields and lower carbon dioxide emissions compared to conventional processes [3]. - Refinity aims to optimize this technology for various plastic waste feedstocks that are currently landfilled or incinerated, focusing on increasing the yield of sustainable chemicals [2][3]. Strategic Goals - Refinity plans to scale up and deploy its technology in future commercial plastic waste-to-value conversion facilities, integrating its manufacturing plants with existing petrochemical operations to enhance economic viability and support scalability [3][6]. - The collaboration with VTT and Dow is seen as a significant step towards developing a differentiated waste conversion process globally [6]. About Innventure - Innventure focuses on founding, funding, and operating companies that provide transformative, sustainable technology solutions, aiming for a target enterprise value of at least $1 billion [7].
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