We consider a noncommutative field theory in three space-time dimensions, with space-time star commutators reproducing a solvable Lie algebra. The $\ensuremath{\star}$-product can be derived from a twist operator and it is shown to be invariant under twisted Poincar\'e transformations. In momentum space the noncommutativity manifests itself as a noncommutative $\ensuremath{\star}$-deformed sum for the momenta, which allows for an equivalent definition of the $\ensuremath{\star}$-product in terms of twisted convolution of plane waves. As an application, we analyze the $\ensuremath{\lambda}{\ensuremath{\phi}}^{4}$ field theory at one loop and discuss its UV/IR behavior. We also analyze the kinematics of particle decay for two different situations: the first one corresponds to a splitting of space-time where only space is deformed, whereas the second one entails a nontrivial $\ensuremath{\star}$-multiplication for the time variable, while one of the three spatial coordinates stays commutative.
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