Novvi and Chevron enter agreement to develop and bring to market new renewable base oil technologies
San Ramon, Calif. and Emeryville, Calif. – Chevron Products Company, a division of Chevron U.S.A. Inc., and Novvi LLC announced that they have entered into an agreement to jointly develop and bring to market novel renewable base oil technologies. Terms of the transaction were not disclosed.
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 technology licensing position. In 2016, Chevron announced an equity investment in Novvi.
“We are very pleased that Chevron and Novvi have expanded our relationship to include base oil development and commercialization. The combination of our organizations’ technical and operational capabilities will deliver the highest performing renewable base oils to market at scale, defining a new performance standard,” stated Jeff Brown,
“We at Chevron are quite excited to enter into this joint development
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