InnoVent Renewables has officially announced its establishment with a clear mission to advance renewable energy by addressing the global environmental issue of waste tires. Operating as a technology and operations company based in the United States, InnoVent Renewables introduces an exclusive continuous pyrolysis technology. This technology is capable of transforming waste tires, plastics, and biomass into valuable fuels and chemicals.

Globally, over 1 billion tires are discarded annually, with North America alone contributing over 100 million tires to this total. Tires decompose more slowly than other waste materials, leading to various health hazards such as mosquito breeding, pest infestations, waterborne diseases, and chemical leaching into the soil. Traditional methods like burning tires in pits or cement kilns are even more harmful due to the release of toxic emissions into the air. InnoVent's continuous pyrolysis technology sets itself apart by offering higher efficiency compared to batch processing. The process utilizes gas to preheat tires, resulting in a Net Zero energy approach. Additionally, valuable chemicals are recovered during the process, yielding high-quality fuels.

Vibhu Sharma, CEO of InnoVent Renewables, expressed excitement about the company's launch: "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."

InnoVent's team is comprised of seasoned executives, each possessing more than 25 years of experience in the energy and chemical industries. With ongoing operations in Houston (USA), Pune (India), and Monterrey (Mexico), the company is poised for rapid growth in North and Latin America. InnoVent Renewables is planning to establish commercial production facilities through public-private partnerships, with a commercial plant set to open in Monterrey, Mexico in 2024. This marks a significant step towards addressing the pressing issue of waste tires and contributing to a more sustainable future.

 

Source: prnewswire.com

Report Abuse