TECHNIP EXPANDS ITS TECHNOLOGICAL LEADERSHIP IN ETHYLENE
Technip and HeliSwirl are pleased to announce that Technip acquired the intellectual property rights for the application of the small amplitude helical tubing technology for steam cracking* furnaces from HeliSwirl on May 15, 2009.
This technology was invented at Imperial College London, and then transferred to HeliSwirl for its commercial development.
This acquisition broadens Technip’s technological offer and will reinforce its position as leader on the steam cracking furnace market.
*Note: Steam cracking: petrochemical process using steam to crack hydrocarbon molecules in order to produce ethylene and propylene.
Technip is a world leader in the fields of project management, engineering and construction for the oil & gas industry, offering a comprehensive portfolio of innovative solutions and technologies.
With 23,000 employees around the world, integrated capabilities and proven expertise in underwater infrastructures (Subsea), offshore facilities (Offshore) and large processing units and plants on land (Onshore), Technip is a key contributor to the development of sustainable solutions for the energy challenges of the 21st century. Present in 46 countries, Technip has operating centers and industrial assets (manufacturing plants, spoolbases, construction yard) on five continents, and operates its own fleet of specialized vessels for pipeline installation and subsea construction.
The Technip share is listed on Euronext Paris exchange and over the counter (OTC) in the USA.
Incorporated in 2004, the HeliSwirl group of companies is a spin-out from Imperial Innovations Group PLC. HeliSwirl’s principal investors are Imperial Innovations Group PLC, Carbon Trust Investments, and Esmee Fairbairn Investments.
The HeliSwirl group is developing a new platform technology to greatly increase fluid flow efficiency for many industrial processes, thereby increasing process yield and reducing cost.
The technology solutions are based on the patent protected Small Amplitude Helical Tubing (“SMAHT”) technology, invented by Professor Colin Caro, who remains an active member of the HeliSwirl board of directors.
HeliSwirl is progressively developing a number of separate business units based on individual industrial applications of the SMAHT technology.
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology commercialisation and investment companies. Founded in 1986 and admitted to the AIM Market of the London Stock Exchange in 2006, Imperial Innovations’ access to early stage technology and intellectual property is unparalleled. Imperial Innovations’ integrated commercialisation approach encompasses the identification of ideas, the protection of intellectual property, the development and licensing of technology and the formation, incubation and funding, through investment, of technology businesses.
Based at Imperial College London, Imperial Innovations’ portfolio of equity holdings in more than 80 companies spans across its four core areas of Healthcare, Engineering, Energy & Environment and Software & IT.
Companies in the portfolio include: Nexeon (lithium ion battery technology), Circassia (allergy therapeutics), Polytherics (drug development), Evo Electric (electric motor and generator solutions), Respivert (respiratory drug development), Quantasol (solar concentrators) and Inforsense (business analytics)
Imperial Innovations has already realised significant value from its investments to date including from a recent trade sale in December 2008 when Thiakis Limited, a company in which Imperial Innovations had a 23.7% stake, was sold for up to £100 million to US-based Wyeth Pharmaceuticals.