Innventure (INV) Status Update summary

Strategic Collaboration and Company Launch

• Announced a deep collaboration with Dow to launch Refinity, focused on advanced recycling in the waste-to-value space and supporting Dow's circular economy and decarbonization initiatives.

• Refinity is positioned as the fourth operating company, leveraging differentiated technology sourced from a European research institute.

• The partnership with Dow validates the business model and expands the network of multinational collaborations.

Leadership and Organizational Structure

• Refinity is led by CEO Bill Grieco, an experienced R&D and commercialization leader, and COO Adam Javan, with over 25 years of executive experience.

• The leadership team has deep process industry experience, supporting Refinity's growth and execution.

• The DownSelect process and multidisciplinary team ensure ongoing technology evaluation and leadership pipeline.

• No immediate need to replace the CTO role at the parent company due to a strong internal talent pool.

Technology and Market Opportunity

• Refinity targets the 240 million tons of mixed plastic waste currently landfilled or incinerated annually, aiming to convert it into sustainable drop-in chemicals.

• The proprietary process uses patented fluidized bed technology licensed from VTT, enabling high-yield (60-70%) conversion of low-cost, hard-to-recycle plastics at moderate temperatures.

• The process is expected to outperform incumbent methods like pyrolysis, mechanical recycling, and dissolution in both yield and scalability.

• Access to VTT’s pilot plant and expertise reduces technical risk and accelerates commercialization.

• Rising consumer demand, regulatory pressure, and improved technologies create a favorable environment for advanced recycling.