07.11.2017

H&R Makes Equity Investment in Novvi and its High-Performance Renewable Base Oil Technology

HAMBURG, Germany and EMERYVILLE, Calif., USA, Oct. 26, 2017 - H&R USA (H&R), a company of The Hansen & Rosenthal Group, of Hamburg (Germany), and Novvi LLC today announced that H&R has made an equity investment into Novvi LLC, a joint venture of Amyris, Inc., Cosan S.A., American Refining Group and Chevron USA. 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 automotive and industrial lubricant applications.

"We are delighted to have H&R join Novvi as a strategic investor. H&R's partnership continues to demonstrate that the global base oil market has a requirement for and acceptance of Novvi technology," stated Jeff Brown, Novvi LLC's CEO. "As we continue to increase our global market penetration, H&R's deep know-how of the process oil business and its application development capability further enhance our growth plan," he continued.

"The Novvi partnership will provide us with access to high-performance renewable base oils, which is well aligned with what our customers are looking for: best performance plus renewable and sustainable," said Niels H. Hansen, chairman of the executive board at H&R. "Novvi's technology creates new possibilities for longer-term product development with H&R and its customers — renewable and sustainable chemistry that can grow the market for the future," he added.

About Novvi LLC:
Novvi LLC is the market leader in renewable oils and is a joint venture of Amyris, Inc., American Refining Group, Inc., Cosan S.A. Industria e Comercio and Chevron USA. 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.