Maire Tecnimont S.p.A. (Milan, Italy; www.mairetecnimont.com) and Siluria Technologies (San Francisco, Calif.; www.siluria.com) have entered into a joint collaboration agreement (JCA). Under the terms of the JCA, Maire Tecnimont and Siluria agreed to 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.
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.
“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,” said Erik Scher, Siluria’s Interim CEO and President. “This new product offering will expand Siluria¹s 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 provides a worldwide platform for commercialization.”
“This collaboration capitalizes on Maire Tecnimont¹s international competencies in engineering and construction, technology licensing and new business development,” said Pierroberto Folgiero, Maire Tecnimont’s CEO. “We are eager to combine these core strengths with Siluria¹s ground-breaking technology development platform to offer a unique, high-value solution to petrochemical customers.”