Refinity, Innventure's Newest Company, Acquires Exclusive Rights to Novel Technology for Advanced Recycling of Mixed Plastic Waste from VTT Technical Research Centre of Finland

Core Viewpoint - Refinity, a new company launched by Innventure, Inc., has secured global licensing rights from VTT Technical Research Centre of Finland for advanced plastic waste conversion technology aimed at transforming mixed plastic waste into chemical precursors, thereby reducing reliance on fossil feedstock [1][2][3] Company Overview - Refinity will collaborate with VTT to enhance the technology for converting various plastic waste feedstocks into sustainable chemicals, focusing on increasing yields from plastics that are typically unsuitable for conventional recycling methods [2][3] - The technology developed by VTT allows for the direct transformation of hard-to-recycle plastic waste into petrochemical raw materials, such as olefins like ethylene and propylene, demonstrating higher yields and lower carbon emissions compared to traditional methods [3] - Bill Grieco has been appointed as CEO of Refinity, bringing 25 years of experience in R&D and commercialization in the chemical and clean tech sectors [4] - Adam Javan will serve as COO, with a strong background in leading businesses in both established companies and startups [5] Strategic Collaboration - The partnership between Refinity and VTT aims to commercialize a thermochemical conversion technology that provides an economically viable solution for waste-to-value processes, contributing to a sustainable future [6] - Innventure's CEO expressed optimism about the potential achievements of Refinity under the leadership of Grieco and Javan, highlighting the importance of their collaboration with VTT and Dow [6] Industry Context - Innventure focuses on founding and operating companies that leverage transformative, sustainable technology solutions, aiming for significant enterprise value growth [7] - The company seeks to mitigate risks while developing disruptive innovations that can significantly alter business and market operations [7]