Lummus Technology Acquires NAPCON, Expanding AI-Driven Digital Solutions in Energy Sector

Lummus Expands Digital Solutions with NAPCON Acquisition and Strategic Partnership with Neste - Neste (OTC:NTOIY)

New AI and digital capabilities will enhance operations, performance and digitalization for customers HOUSTON, April 23, 2025 /PRNewswire/ -- Lummus Technology, the global provider of process technologies and value-driven energy solutions, and Neste announced the companies have signed an agreement in which Lummus Technology will acquire the intellectual property and certain assets of NAPCON, Neste's proprietary digital technology solutions provider. The agreement also includes the transfer of key NAPCON personnel to ensure continuity and leverage critical expertise. In addition, Lummus and Neste have entered into a Strategic Collaboration Agreement to provide continuous NAPCON services to Neste and its subsidies. NAPCON leverages AI, advanced process controls, automation and simulation software that enhances efficiency, safety and sustainability in refining, petrochemical and other industrial operations. NAPCON's products have been continuously developed to meet the high demands in process safety, profitability and competitiveness of production assets. "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." "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," said Markku Korvenranta, Executive Vice President and Chief Operating Officer of Neste. "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." The agreement involves several partners, including Lummus Technology, Neste, Lummus Digital and Ferroman Engineering Oy. Lummus Technology, through Lummus Digital and in partnership with Ferroman, will provide NAPCON's digital services to Neste. Lummus Technology will also integrate NAPCON into its portfolio and offer the digital services to its global customers. Lummus Technology and Ferroman will jointly support existing third-party licensees of NAPCON. "This collaboration marks a pivotal moment for Ferroman and the industries we serve," said Håvard Hansen, Chief Executive Officer of Ferroman Engineering. "With access to NAPCON's cutting-edge technology and Lummus' global reach, we are ready to accelerate digital transformation in the steel and food processing sectors as well as supporting the energy industry with Lummus. Together, we will deliver smarter, safer, and more sustainable operations for our customers." 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. 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. The acquisition is expected to be complete by June 2025. About Lummus Technology Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide. To learn more about Lummus, visit www.LummusTechnology.com. About Neste Neste (NESTE, Nasdaq Helsinki) creates solutions for mitigating climate change and accelerating a shift to a circular economy. The company is the world's leading producer of sustainable aviation fuel (SAF) and renewable diesel, enabling its customers to reduce their greenhouse gas emissions. Neste refines waste, residues and other renewable raw materials to high-quality renewable fuels at its refineries located on three continents. The company's annual renewable fuels production capacity will be increased to 6.8 million tons in 2027. Click the following links to learn more about Neste, www.Neste.com, and NAPCON www.NAPCONsuite.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/lummus-expands-digital-solutions-with-napcon-acquisition-and-strategic-partnership-with-neste-302435159.html SOURCE Lummus Technology, LLC NTOIYNeste OYJ$4.47-%OverviewMarket News and Data brought to you by Benzinga APIs

Lummus Expands Digital Solutions with NAPCON Acquisition and Strategic Partnership with Neste By Investing.com

New AI and digital capabilities will enhance operations, performance and digitalization for customers HOUSTON, April 23, 2025 /PRNewswire/ -- Lummus Technology, the global provider of process technologies and value-driven energy solutions, and Neste announced the companies have signed an agreement in which Lummus Technology will acquire the intellectual property and certain assets of NAPCON, Neste's proprietary digital technology solutions provider. The agreement also includes the transfer of key NAPCON personnel to ensure continuity and leverage critical expertise. In addition, Lummus and Neste have entered into a Strategic Collaboration Agreement to provide continuous NAPCON services to Neste and its subsidies. NAPCON leverages AI, advanced process controls, automation and simulation software that enhances efficiency, safety and sustainability in refining, petrochemical and other industrial operations. NAPCON's products have been continuously developed to meet the high demands in process safety, profitability and competitiveness of production assets. "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." "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," said Markku Korvenranta, Executive Vice President and Chief Operating Officer of Neste. "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." The agreement involves several partners, including Lummus Technology, Neste, Lummus Digital and Ferroman Engineering Oy. Lummus Technology, through Lummus Digital and in partnership with Ferroman, will provide NAPCON's digital services to Neste. Lummus Technology will also integrate NAPCON into its portfolio and offer the digital services to its global customers. Lummus Technology and Ferroman will jointly support existing third-party licensees of NAPCON. "This collaboration marks a pivotal moment for Ferroman and the industries we serve," said HÃ¥vard Hansen, Chief Executive Officer of Ferroman Engineering. "With access to NAPCON's cutting-edge technology and Lummus' global reach, we are ready to accelerate digital transformation in the steel and food processing sectors as well as supporting the energy industry with Lummus. Together, we will deliver smarter, safer, and more sustainable operations for our customers." 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. 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. The acquisition is expected to be complete by June 2025. About Lummus Technology Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide. To learn more about Lummus, visit www.LummusTechnology.com. About Neste Neste (NESTE, Nasdaq Helsinki) creates solutions for mitigating climate change and accelerating a shift to a circular economy. The company is the world's leading producer of sustainable aviation fuel (SAF) and renewable diesel, enabling its customers to reduce their greenhouse gas emissions. Neste refines waste, residues and other renewable raw materials to high-quality renewable fuels at its refineries located on three continents. The company's annual renewable fuels production capacity will be increased to 6.8 million tons in 2027. Click the following links to learn more about Neste, www.Neste.com, and NAPCON www.NAPCONsuite.com.

Lummus Expands Digital Solutions with NAPCON Acquisition and Strategic Partnership with Neste

New AI and digital capabilities will enhance operations, performance and digitalization for customers HOUSTON, April 23, 2025 /PRNewswire/ -- Lummus Technology, the global provider of process technologies and value-driven energy solutions, and Neste announced the companies have signed an agreement in which Lummus Technology will acquire the intellectual property and certain assets of NAPCON, Neste's proprietary digital technology solutions provider. The agreement also includes the transfer of key NAPCON personnel to ensure continuity and leverage critical expertise. In addition, Lummus and Neste have entered into a Strategic Collaboration Agreement to provide continuous NAPCON services to Neste and its subsidies. NAPCON leverages AI, advanced process controls, automation and simulation software that enhances efficiency, safety and sustainability in refining, petrochemical and other industrial operations. NAPCON's products have been continuously developed to meet the high demands in process safety, profitability and competitiveness of production assets. "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." "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," said Markku Korvenranta, Executive Vice President and Chief Operating Officer of Neste. "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." The agreement involves several partners, including Lummus Technology, Neste, Lummus Digital and Ferroman Engineering Oy. Lummus Technology, through Lummus Digital and in partnership with Ferroman, will provide NAPCON's digital services to Neste. Lummus Technology will also integrate NAPCON into its portfolio and offer the digital services to its global customers. Lummus Technology and Ferroman will jointly support existing third-party licensees of NAPCON. "This collaboration marks a pivotal moment for Ferroman and the industries we serve," said Håvard Hansen, Chief Executive Officer of Ferroman Engineering. "With access to NAPCON's cutting-edge technology and Lummus' global reach, we are ready to accelerate digital transformation in the steel and food processing sectors as well as supporting the energy industry with Lummus. Together, we will deliver smarter, safer, and more sustainable operations for our customers." 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. 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. The acquisition is expected to be complete by June 2025. About Lummus Technology Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide. To learn more about Lummus, visit www.LummusTechnology.com. About Neste Neste (NESTE, Nasdaq Helsinki) creates solutions for mitigating climate change and accelerating a shift to a circular economy. The company is the world's leading producer of sustainable aviation fuel (SAF) and renewable diesel, enabling its customers to reduce their greenhouse gas emissions. Neste refines waste, residues and other renewable raw materials to high-quality renewable fuels at its refineries located on three continents. The company's annual renewable fuels production capacity will be increased to 6.8 million tons in 2027. Click the following links to learn more about Neste, www.Neste.com, and NAPCON www.NAPCONsuite.com.