Finland-headed oil refiner and renewable products major Neste Oyj has announced that it has signed an agreement to sell its proprietary technology NAPCON to Lummus Technology LLC, a US-headed global provider of process technologies and value-driven energy solutions.
NAPCON covers solutions in the fields 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, said Markku Korvenranta, EVP and COO of Neste.
Long-term service agreement
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, the Middle East, and the 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.
I am grateful for the long-term partnership with Neste, renowned for its industry vision. The acquisition of NAPCON’s digital solutions and continuing our partnership with Neste are transformative steps for Lummus. This aligns with our strategic vision of combining cutting-edge AI-driven solutions with process technology to enhance the performance of our customers’ operations, said Leon de Bruyn, President and CEO of Lummus Technology.
The divestment is estimated to be completed by the end of May 2025.
