Imtex Membranes Corp. (Ontario, Canada; www.imtexmembranes.com) has received a strategic investment from SABIC Ventures. SABIC is a global leader in diversified chemicals with $40 billion in revenues and operations around the world.
Imtex’s Permylene membrane separation technology reduces wasteful gas flaring and enhances existing energy-intensive separation and purification of olefins from paraffins, the building blocks for polyolefin plastics and rubber chemicals. Imtex can deliver upwards of 30% energy savings over incumbent competing processes, which cost industry over $100 billion annually in energy and emits 350 million tonsof greenhouse gas emissions globally.
“SABIC is excited to work with Imtex to bring its innovative technology to market and to help SABIC reduce waste flaring. Permylene membrane separation technology is poised to deliver valuable reductions in SABIC’s process energy and emissions.” – Dr. Bob Maughon, SABIC EVP Sustainability, Technology & Innovation and Chief Technology and Sustainability Officer.
The focus of the investment is to deploy Permylene membrane separation technology at a SABIC production site to support SABIC in achieving gas flaring reduction goals and enhancing process efficiency.
SABIC’s investment coincides with a recent announcement by Sustainable Development Technology Canada (SDTC) that awarded over $6 million for Imtex’s growth plans in Mississauga and Sarnia, ON. Imtex recently announced its plans to build a commercial production facility at the Bio-Industrial Park in Sarnia, Ontario.
“It’s an honour to be selected to work with one of the world’s largest petrochemical manufacturers to bring Imtex’s patented process innovation to petrochemical operations. With SABIC Ventures and SDTC on board, Imtex can now accelerate the commercialization of our innovative technology.” – Karlis Vasarais, President, Imtex