Nevis LLC newly announced that it had obtained an equity investment scheduled behalf of Chevron Products Company, which is a division of Chevron Corporation’s Chevron U.S.A., Inc.
Novvi, the market frontrunner in renewable oils, is a joint venture between Amyris Inc, Cosan S.A. American Refining Group (ARG) and Industrial e commerce. The company produces targeted hydrocarbon molecules from plant sugar for automotive, marine, industrial and construction applications.
With this agreement, Chevron Corporation will get access to highly recognized technologies in high-performance base oils. This tactical move is aligned with their aggressive growth plan, particularly in the area of synthetic and renewable lubricants.
The investment also means more opportunities for Chevron’s lasting product developments, which have the potential to transfigure the industry. Chevron and Novvi’s plan are functioning together in order to introduce new base oils in key areas.
Novvi’s products and technology are known by the global lubricant market thanks to their ability to provide sustainable, high-performance solutions in a range of applications. Since launching its first commercial production in 2014, Novvi has been steadily increasing base oil manufacturing in order to retain up with the robust and growing demand for a variety of applications.
On the other hand, Chevron Corporation is a top manufacturer of premium base oils and one of the world’s largest suppliers of finished lubricants. Chevron is one the world’s major base oil manufacturing platforms through its private refining network and its base oil licensing technology locus.