Chevron Products Company and Novvi LLC have entered into an agreement to jointly develop and bring to market new, renewable base oil technologies. Terms of the transaction were not disclosed.
Since launching its first commercial production in 2014, Novvi’s base oil products and technology are recognized by the global lubricant market to deliver sustainable, high-performance solutions in a range of lubricant applications.
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.
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