Exclusive technology converts tires into valuable fuels & chemicals
HOUSTON, Aug. 22, 2023 /PRNewswire/ — InnoVent Renewables announces its formation with a corporate mission to drive renewable energy forward by mitigating the global environmental challenge of waste tires. InnoVent Renewables launched as a U.S.-based technology and operations company with a proprietary continuous pyrolysis technology that converts waste tires, plastics, and biomass into valuable fuels and chemicals.
Each year more than 1 billion tires are disposed of globally, and North America alone disposes of 100+ million tires annually. Decomposition of tires is slower than other waste resulting in a serious health hazard (mosquitos, pests, water borne diseases, and chemical leaching into soil); and burning tires in pits or cement kilns is far more hazardous as it emits toxic emissions in the air. The exclusive pyrolysis technology is unique in that it’s continuous, which is a much higher efficiency compared to batch processing. It utilizes the gas to preheat the tires, thereby making it a Net Zero energy process. During the process valuable chemicals are recovered from the products, producing high quality fuels.
“We are thrilled to formally launch InnoVent Renewables and plan to ramp-up operations into early 2024,” noted InnoVent Renewables CEO Vibhu Sharma. “Our investors, strategic advisors, and management team are all fully committed to our success as we address the global challenge of waste tires. We firmly believe our proven process, deployed at scale globally, will have a huge positive impact on our climate and fill a clear environment need.”
With a solution to this environmental challenge, InnoVent has assembled a team of world class executives each with more than 25 years of energy and chemical industry experience to drive early-stage growth. With current operations in Houston (USA), Pune (India), and Monterrey (Mexico), the company has aggressive growth plans across North America and Latin America, with future expansion opportunities in Europe, the Middle East, and Asia-Pacific.
InnoVent Renewables has commenced planning for additional growth across North and Latin America through public-private partnerships with plans to open a commercial production plant in Monterrey, Mexico in 2024.
About InnoVent Renewables
InnoVent Renewables is a U.S.-based technology and operations company with a proprietary continuous pyrolysis technology that converts waste tires, plastics, and biomass into valuable fuels and chemicals. InnoVent’s corporate mission is to drive renewable energy forward by addressing the global environmental challenge of waste tires. With operations currently in Houston (USA), Pune (India), and Monterrey (Mexico), InnoVent has aggressive international expansion plans. More information on InnoVent Renewables can be found at innoventrenewables.com.
Lisa Gochman, 713-582-4912
SOURCE InnoVent Renewables