Italian engineering & construction firm Maire Tecnimont SpA has entered into a joint collaboration agreement (JCA) with Siluria Technologies. As per the JCA, Maire Tecnimont and Siluria will combine their respective technologies and expertise to bring to the marketplace a unique process to convert natural gas directly into commodity chemicals and their derivative products.
“This collaboration capitalises on Maire Tecnimont’s international competencies in engineering and construction, technology licensing and new business development. We are eager to combine these core strengths with Siluria’s ground-breaking technology development platform to offer a unique, high-value solution to petrochemical customers,” said Pierroberto Folgiero, chief executive officer, Maire Tecnimont.
Erik Scher, Interim CEO and president, Siluria, added, “We are excited to expand our product portfolio by teaming with Maire Tecnimont, to enable a completely new pathway to produce additional petrochemical derivatives from natural gas. This new product offering will expand Siluria’s portfolio beyond our current solutions focused on gasoline and ethylene, to address an even larger share of the global petrochemical and energy market. Furthermore, partnering with Maire Tecnimont, a recognised leader in engineering, construction, technology licensing and new project development, provides a worldwide platform for commercialisation.”
Since its inception in 2009, Siluria has executed on a vision to better utilise limited carbon resources by providing disruptive catalytic solutions while addressing the petrochemical and energy industries’ most daunting challenging and largest opportunities. Siluria’s first novel technology enables the direct conversion of natural gas to ethylene via the oxidative coupling of methane. This technology also provides the industry’s first and only solution of small-scale on-purpose and distributed scale ethylene production. Siluria is currently focused on commercial projects in the refining and midstream industries, and a pipeline of licensing projects in petrochemicals via its global partnership with Linde.
“This collaboration capitalises on Maire Tecnimont’s international competencies in engineering and construction, technology licensing and new business development. We are eager to combine these core strengths with Siluria’s ground-breaking technology development platform to offer a unique, high-value solution to petrochemical customers,” said Pierroberto Folgiero, chief executive officer, Maire Tecnimont.
Erik Scher, Interim CEO and president, Siluria, added, “We are excited to expand our product portfolio by teaming with Maire Tecnimont, to enable a completely new pathway to produce additional petrochemical derivatives from natural gas. This new product offering will expand Siluria’s portfolio beyond our current solutions focused on gasoline and ethylene, to address an even larger share of the global petrochemical and energy market. Furthermore, partnering with Maire Tecnimont, a recognised leader in engineering, construction, technology licensing and new project development, provides a worldwide platform for commercialisation.”
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In conjunction with the signing of the JCA, Maire Tecnimont has made a minority investment of $ 10 million in Siluria’s share capital through the Series E financing Round.
Since its inception in 2009, Siluria has executed on a vision to better utilise limited carbon resources by providing disruptive catalytic solutions while addressing the petrochemical and energy industries’ most daunting challenging and largest opportunities. Siluria’s first novel technology enables the direct conversion of natural gas to ethylene via the oxidative coupling of methane. This technology also provides the industry’s first and only solution of small-scale on-purpose and distributed scale ethylene production. Siluria is currently focused on commercial projects in the refining and midstream industries, and a pipeline of licensing projects in petrochemicals via its global partnership with Linde.