Lummus Technology, a provider of process technologies and value-driven energy solutions, announced a strategic investment in InnoVent Renewables to accelerate deployment of its proprietary tire recycling technology.

It is estimated that over one billion tires end up in landfills every year.

To address this, InnoVent’s technology offers a scalable, end-to-end solution for converting end-of-life tires into high-value products such as tire pyrolysis oil, recovered carbon black, pyrolysis gas and steel, from pre-processing through purification.