14 December 2016
Chevron is a leading manufacturer of premium base oils
and one of the world's largest suppliers
of finished lubricants.
Chevron has one of the world's largest
base oil manufacturing platforms
through its own refining network
and its base oil licensing technology position.
Novvi LLC is the market leader in renewable oils
and is a joint venture of Amyris, Inc.,
American Refining Group, Inc., and
Cosan S.A. Industria e Comercio.
Novvi produces targeted hydrocarbon molecules
from plant sugar for automotive, industrial, marine,
and construction applications at unbeatable economics.
Novvi designs the best oils ever built
to meet the demands of the advanced machine world.
Learn more at www.Novvi.com.
DETAILS
Chevron Products Company,
a division of Chevron U.S.A. Inc., and
today announced that Chevron has made
an equity investment into
Novvi LLC
(a joint venture of Amyris, Inc. (Nasdaq:AMRS),
Cosan S.A., and American Refining Group (ARG)).
Terms of the transaction were not disclosed.
Novvi's products and technology are recognized
by the global lubricant market to deliver
sustainable, high-performance solutions
in a range of lubricant applications.
Since launching first commercial production in 2014,
Novvi has been steadily increasing
base oil manufacturing to keep up
with robust and growing demand
for a variety of applications.
In addition to an equity investment, Chevron and Novvi
plan to work together to introduce
new base oils and lubricants to the industry in key areas.
Dr. Brent Lok,
Manager,
Chevron Base Oils Marketing and Business Development
"The investment in Novvi will provide us with access
to high-performance renewable base oils,
which is strategically aligned with
our aggressive growth plan, particularly in
the synthetic and renewable lubricants space,"
"Novvi's technology creates new possibilities
for longer-term product development within Chevron,"
Jeff Brown,
Novvi LLC's CEO
" We are very pleased that Chevron has decided
to invest in Novvi. Chevron's investment
is a further validation of the market acceptance
that Novvi and its technology have gained,"
" As we continue to increase our global market penetration,
Chevron's well-established industry position
in base oils and lubricants
can further enhance our growth plan,"
Contact
Chevron:
Saniyyah Smith,
Communications Advisor,
Chevron Lubricants sxnc@chevron.com
+1-925-842-0811
Novvi:
William R Downey,
Senior VP,
Business Development
downey@novvi.com +1-917-214-8063
WWW.CHEMWINFO.COM BY KHUN PHICHAI
