Press Release: New AI and digital capabilities will enhance operations, performance and digitalization for customers.
Lummus Technology, the global provider of process technologies and
value-driven energy solutions, and Neste announced the companies have
signed an agreement in which Lummus Technology will acquire the
intellectual property and certain assets of NAPCON, Neste’s proprietary
digital technology solutions provider. The agreement also includes the
transfer of key NAPCON personnel to ensure continuity and leverage
critical expertise. In addition, Lummus and Neste have entered into a
Strategic Collaboration Agreement to provide continuous NAPCON services
to Neste and its subsidiaries.
NAPCON leverages AI, advanced
process controls, automation and simulation software that enhances
efficiency, safety and sustainability in refining, petrochemical and
other industrial operations. NAPCON’s products have been continuously
developed to meet the high demands in process safety, profitability and
competitiveness of production assets.
“I am grateful for the
long-term partnership with Neste, renowned for their industry vision.
The acquisition of NAPCON’s digital solutions and continuing our
partnership with Neste are transformative steps for Lummus,” said Leon
de Bruyn, President and Chief Executive Officer of Lummus Technology.
“This aligns with our strategic vision of combining cutting-edge
AI-driven solutions with process technology to enhance the performance
of our customers’ operations.”
“I am thrilled by this
announcement. Lummus has the capability to keep NAPCON technology
competitive as well as secure maintenance and development of the
existing installations for Neste and NAPCON client base,” said Markku
Korvenranta, Executive Vice President and Chief Operating Officer of
Neste. “Lummus is a global technology licensor in hydrocarbon processing
and is in the position of creating value with NAPCON by offering NAPCON
solutions to its global customer pool. We believe Lummus is the right
partner to scale-up NAPCON technology and ensure its competitiveness in
the long term.”
The agreement involves several partners,
including Lummus Technology, Neste, Lummus Digital and Ferroman
Engineering Oy. Lummus Technology, through Lummus Digital and in
partnership with Ferroman, will provide NAPCON’s digital services to
Neste. Lummus Technology will also integrate NAPCON into its portfolio
and offer the digital services to its global customers. Lummus
Technology and Ferroman will jointly support existing third-party
licensees of NAPCON.
“This collaboration marks a pivotal moment
for Ferroman and the industries we serve,” said Håvard Hansen, Chief
Executive Officer of Ferroman Engineering. “With access to NAPCON’s
cutting-edge technology and Lummus’ global reach, we are ready to
accelerate digital transformation in the steel and food processing
sectors as well as supporting the energy industry with Lummus. Together,
we will deliver smarter, safer, and more sustainable operations for our
customers.”
Lummus Digital, a joint venture between Lummus
Technology and TCG Digital, combines process engineering expertise with
advanced data science to deliver digital solutions to customers.
Ferroman is a transatlantic provider of digital and engineering
solutions for the steel and process industries with operations in the
Nordics, Middle East and Americas. Ferroman delivers advanced
automation, AI-driven optimization and project execution services to
industrial customers in their green transition seeking increased
efficiency, quality and sustainability.
The acquisition is expected to be complete by June 2025.
About Lummus Technology
Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide. To learn more about Lummus, visit www.LummusTechnology.com.
About Neste
Neste (NESTE, Nasdaq Helsinki) creates solutions for mitigating climate change and accelerating a shift to a circular economy. The company is the world’s leading producer of sustainable aviation fuel (SAF) and renewable diesel, enabling its customers to reduce their greenhouse gas emissions. Neste refines waste, residues and other renewable raw materials to high-quality renewable fuels at its refineries located on three continents. The company’s annual renewable fuels production capacity will be increased to 6.8 million tons in 2027. Click the following links to learn more about Neste, www.Neste.com, and NAPCON www.NAPCONsuite.com.
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