The technology of the Elven Rings can not be identified with industrial technology, because the primary purpose is to heal and preserve.

Yet there is a similarity. Sauron's use of his knowledge was destructive and evil because he sought to control everything. Industrial technology, properly applied COULD completely heal the planet and turn it into a paradise. It is the misapplication of technology which is destructive: ergo, it in itself is not the evil force at work.