Lummus Digital Joint Venture Formed by Lummus Technology and TCG Digital to Accelerate Digital Transformation
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- New business will be branded Lummus Digital - Partnership combines leading process licensing portfolio with a proven Big Data and AI platform to lead digital transformation of refining, petrochemical and gas processing sectors - Focus will be to digitalize operations and assets, making them more profitable, efficient, reliable and safe
HOUSTON and NEW YORK, Nov. 17, 2020 /PRNewswire/ -- Lummus Technology and TCG Digital today announced that the companies have formed a joint venture called Lummus Digital. The joint venture will work with Lummus' existing customers and potential customers to implement digital analysis and operative solutions to their refining, petrochemical and gas processing assets and across the hydrocarbon processing value chain.
"Our focus on innovation continues with this joint venture," said Dr. Purnendu Chatterjee, Founder Chairman of The Chatterjee Group. "We strive to deliver sustainable value to our esteemed clients with modern technology and deep process innovation, giving them the edge with digitalization in these difficult times. This joint venture will co-create and innovate with other areas of the group like TCG Crest, our research university, LabVantage and Haldia Petrochemicals."
"Lummus Digital is another new and critical initiative we are launching to ensure our position as a leader of our industry and at the forefront of innovation," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. "With TCG Digital, we are partnering with a company that has a proven track record in digitalization and generating data-driven value for its clients in multiple industries. We are confident that Lummus Digital will leverage the strengths and capabilities of both companies to digitalize our customers' operations and assets."
"We are excited that this partnership will allow TCG Digital and Lummus Technology to build on their core competencies and strengths, addressing the fast-evolving needs of the refining and petrochemicals industry," said Debdas Sen, Chief Executive Officer of TCG Digital. "Lummus Digital will leverage the tcg mcube data platform to drive operational excellence, improve plant safety, enhance reliability, and increase margins."
Lummus Digital will work with refining, petrochemical and gas processing operators to provide big data, advanced analytics, artificial intelligence, process simulations, proprietary know-how and 24/7 advisory services. Lummus Digital's solutions are designed to: maximize economic benefit through digitalization; ensure operators and technicians have the insight to maximize efficiency and reliability of their operations and assets; improve safety and decision making of management and operating staff; and provide flexibility to quickly adapt operations to take advantage of changing market dynamics.
The joint venture has developed a distinct brand that reflects the identity and expertise of both companies. Lummus Digital has also launched a website, www.LummusDigital.com, where you can learn more about this new business.
TCG Digital and Lummus Technology are portfolio companies of The Chatterjee Group (TCG), which has an enviable track record as a strategic investor in many sectors. Founded by Dr. Purnendu Chatterjee, TCG focusses on knowledge-based industries and owns and controls companies as long-term investments in several sectors including Petrochemicals, Pharmaceuticals, Biotech and Digital Technology.
About Lummus Technology With a heritage spanning more than 110 years and a focus on innovation that has resulted in approximately 130 technologies and 3,400 patents, Lummus Technology is the global leader in developing and implementing process technologies. We are a Master Licensor of petrochemical, refining, gasification, gas processing and renewable technologies, and a supplier of catalysts, proprietary equipment and related services to customers worldwide. To learn more about the new Lummus, visit www.LummusTechnology.com.
About TCG DigitalThe flagship digital technology consulting and solutions company of The Chatterjee Group, TCG Digital enables organizations to go digital by leveraging transformative technologies including Big Data and AI, advanced analytics, and operational expertise to accelerate value realization for our clients. To learn more, visit www.TCGDigital.com.
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SOURCE Lummus Technology, LLC
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