Lummus Technology (Houston) and Neste Corp. (Espoo, Finland) 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 artificial intelligence (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.