May 28 2015
Novvi, the leader in renewable oils, today unveiled two new 100 percent renewable base oil products, a 100 percent renewable polyalphaolefin (PAO) Group IV and a 100 percent renewable version of its NovaSpec Group III+ base oil. Novvi designs renewable oils for superior performance and longer life, while helping customers easily meet environmental standards.
The new base oil products add to Novvi’s growing portfolio of renewable oils pushing the boundaries of the traditional premium oil market by delivering the best deal on the market.
“The market demand for oils and lubricants that can deliver performance without compromise to the environment was confirmed by the massive demand for our first NovaSpec base oil,” said Novvi CEO Jeff Brown. “Novvi’s new 100 percent renewable base oil products are the next generation of revolutionary oils designed for performance at an unmatched value. Our unbeatable economics will drive renewable oils from niche applications to the mass market.”
Novvi’s 100 percent renewable PAO is a clean, direct replacement for conventional Group IV PAO base oils derived from petroleum and natural gas. Novvi is the first company to commercialize high-performance PAO oil from renewable materials. Novvi’s streamlined supply chain drastically reduces capex costs considered standard in the industry by bypassing upstream processing steps required by petroleum PAO.
Building upon the groundbreaking performance of Novvi’s Group III+ 50 percent renewable NovaSpec base oils, Novvi will now offer a 100 percent renewable NovaSpec. Novvi’s 100 percent renewable NovaSpec base oil enables oil producers to blend renewable content more flexibly and efficiently than ever before, adding up to the best deal on the market. Moreover, 100 percent renewable NovaSpec maintains the breakthrough biodegradability capability of Novvi base oils, offering an unmatched combination of performance and environmental characteristics.
“Renewable oils offer customization of specs and performance that differentiate them from conventionally produced oils,” said Pavel Molchanov, senior vice president and equity research analyst at Raymond James. “A renewable oil that competes on performance and price is well positioned for the multibillion dollar lubricant and base oils market.”
“If a company could make the same quality PAO with a different feedstock, they could dramatically change the market. Customers would run to them,” said Joe Rousmaniere, director of business development at Chemlube International.
Novvi customizes, designs and builds the best oils on the market. Novvi oils are manufactured from renewable and sustainable feedstocks with Novvi’s advanced biotechnology and pioneering chemical conversion process. The company is now taking orders from its Houston, Texas, plant and will scale production through strategic industry partnerships. Novvi is currently shipping NovaSpec base oil from the Texas plant to a range of customers in automotive, marine and industrial markets around the world.
Source: http://novvi.com/