Neste, the world’s leading producer of renewable diesel and sustainable aviation fuel, has signed an agreement to sell its proprietary technology NAPCON to Lummus Technology, according to the press release.
NAPCON covers solutions in the field of interactive operator training simulators and game-aided learning systems, real-time process optimization, AI based process predictors and real-time process information gathering, monitoring and analytics. NAPCON products have been continuously developed to meet the high demands in process safety, profitability and competitiveness of production assets.
“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. 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,” says Markku Korvenranta, Executive Vice President and Chief Operating Officer of Neste.
“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.”
Neste has existing NAPCON installations in its sites optimizing production, ensuring operator competence and providing critical information for refinery steering and decision-making. In connection with the transaction, the parties have entered into a long-term service agreement to secure maintenance and development of installations in Neste’s refineries. To ensure continuity and leverage critical expertise, the transaction includes the transfer of key personnel. Lummus Technology, through Lummus Digital and in partnership with Ferroman, will provide NAPCON’s digital services to Neste.
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.
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.
The divestment is estimated to be completed by the end of May 2025.
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