Dow and Innventure, a technology commercialization platform, have announced a collaboration to develop and commercialize innovative waste-to-value technologies.
The partnership aims to scale the conversion of mixed waste, including hard-to-recycle plastics, into petrochemical feedstocks that can replace fossil fuel-based alternatives.
Creation of Refinity
To facilitate this effort, Innventure has launched a new subsidiary, Refinity.
Refinity will focus on commercializing cost-effective technologies that convert mixed waste into sustainable chemicals.
The chemicals will serve as direct replacements for traditional petrochemical feedstocks.
Refinity will collaborate with Dow to scale these technologies and deploy them on a global scale. The partnership will also explore identifying ideal sites for future commercial plants.
Leveraging Expertise for a Circular Economy
As part of the collaboration, Dow will provide technical expertise to support the development and engineering of new waste-to-value processes.
Additionally, Dow and Refinity will collaborate on various aspects of the waste supply chain, including aggregating and upgrading plastic waste feedstocks.
Refinity’s novel, high-yield thermochemical processes, such as gasification for converting mixed plastic waste to light olefins, will be central to the initiative.
Aligning with Dow’s Sustainability Goals
The collaboration aligns with Dow’s strategy to accelerate the deployment of advanced technologies in pursuit of its sustainability goals.
Specifically, it supports Dow’s “Transform the Waste” initiative, which aims to scale circular solutions.
Through the partnership, Dow is also advancing its commitment to the “Decarbonize & Grow” agenda and its Path2Zero journey, working toward a more sustainable future.
A Strategic Partnership for Global Impact
Bill Haskell, CEO of Innventure, emphasized the value of partnering with industry leaders like Dow.
He stated that the collaboration with Dow is a significant step. The formation of Refinity will help commercialize cutting-edge waste conversion technologies worldwide.
Innventure has a unique business model that focuses on technology commercialization and new company creation. This approach will help accelerate the global development and deployment of waste-to-value processes.
Commitment to Circularity and Sustainability
Both Dow and Innventure are committed to accelerating circularity on a global scale.
Dow has set an ambitious target to transform three million metric tons of waste into circular and renewable solutions by 2030.
As per the press release, through the partnership, the two companies aim to drive progress toward a more sustainable, circular economy.
