Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 98

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 98
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rolysis processes, potentially enabling two to three times higher productivity when the

fluidized bed process feeds olefin gases directly to petrochemical steam cracker operations.

• Allow use of low cost, mixed plastic wastes . Unlike incumbent recycling processes which typically require

more sorting and pre-cleaning of plastic wastes, Refinity believes that the fluidized bed process will be

more robust to minimally-sorted, mixed plastic waste streams.

• Enable plant site flexibility . We believe that the Refinity fluidized bed operating conditions can be tuned to

allow for production of either olefin (ethylene and propylene) gases and hydrocarbon liquids. We believe

the flexibility to site and build a liquids plant close to low-cost plastic waste feedstock sources will allow

Refinity to minimize transportation costs for plastic waste and reduce operating costs. Refinity expects to

site an olefin gas plant adjacent to petrochemical steam cracker operations to take advantage of existing site

infrastructure and product purification while also minimizing cost for transporting the olefin product.

History

AeroFlexx was launched in February 2018 as our second Innventure Company. The technology was acquired

from P&G, who conducted extensive R&D and customer testing using iconic brands such as Dawn, Old Spice and

Olay as part of a multi-year consumer research plan. AeroFlexx acquired sole exclusive rights to commercialize the

technology globally, across all categories and with any partner, including any P&G direct competitors without

restriction.

The fluidized bed conversion technology underpinning Refinity was developed at VTT from 2014 to 2024.

Innventure developed a collaboration with VTT and Dow during 2024 and formed Refinity in December 2024.

Refinity and VTT executed a definitive agreement on December 11, 2024, and exclusively licensed a portfolio of

advanced conversion of mixed plastic waste patents and patent applications from VTT. Innventure and Dow

executed a collaboration agreement on December 13, 2024, for the companies to work together, including through

Refinity, to scale and commercialize technologies aimed at converting mixed waste, including hard-to-recycle

plastic waste, to petrochemical feedstocks.

Current Status

AeroFlexx is in the early stages of operations and is beginning to ramp up commercial production capabilities.

AeroFlexx’s first commercial line has been installed with a design nameplate capacity of up to 50 million units per

year. AeroFlexx is currently