Siluria Technologies

About Siluria Technologies

Siluria Technologies, Inc. was established in 2007 with a focus on developing a commercially viable method for converting natural gas into transportation fuels and commodity chemicals. The company was co-founded by a group that includes MIT professor Angela Belcher, known for her work in evolving organisms for specific material properties, and venture capitalist Erik Scher. Their goal was to commercialize a process known as the oxidative coupling of methane (OCM), a challenge that had eluded chemical companies for decades. The founders' backgrounds in materials science and chemical engineering were pivotal in developing the company's core technology.

The firm's primary business revolves around its proprietary OCM process, which directly converts methane, the main component of natural gas, into ethylene. This breakthrough is significant because ethylene is a foundational chemical for producing plastics and other industrial chemicals, traditionally derived from petroleum. Siluria's technology utilizes a nanowire-based catalyst, a novel approach that makes the conversion process efficient and economically attractive, especially in regions with abundant and inexpensive natural gas. In addition to the OCM process, the company developed a second technology to convert ethylene into liquid fuels like gasoline, diesel, and jet fuel. This positions Siluria to offer a complete gas-to-liquids (GTL) solution, potentially disrupting the reliance on crude oil for both fuels and chemicals.

Siluria Technologies operated on a licensing business model. Instead of building and operating its own large-scale production plants, the company aimed to license its OCM and ethylene-to-liquids (ETL) technologies to major players in the energy, petrochemical, and midstream sectors. This strategy allowed for faster market penetration by integrating their processes into existing industrial infrastructure. Over its operational history, Siluria secured substantial funding from venture capital firms and strategic partners, including Wellcome Trust and Saudi Aramco, to develop and scale its technology. The company built demonstration plants to prove the viability of its catalyst and process, such as the facility located in La Porte, Texas. In 2019, Siluria was acquired by McDermott International, a major engineering and construction firm for the energy industry, which subsequently integrated Siluria's technology into its portfolio under the Lummus Technology brand.