H&R Makes Equity Investment in Novvi and its High-Performance Renewable Base Oil Technology
October 26 2017 - 8:30AM
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. (Nasdaq:AMRS), Cosan S.A., American
Refining Group (ARG) and Chevron USA (NYSE:CVX). 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.
“We are pleased that H&R, a company with a long
tradition as a global innovator with hundreds of oil and wax based
specialty products has joined with Novvi to support further growth
in renewable products to meet growing consumer demand for high
performance and sustainably sourced products,” said John Melo,
Amyris President & CEO. “This demand continues to contribute to
our strong revenue growth and to support our mission of
accelerating the transition to high performance, sustainably
sourced products. We are very pleased to have H&R join us,
Cosan, Chevron and ARG on this mission."
“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.
The Hansen & Rosenthal
Group
The Hansen & Rosenthal Group (H&R) is a
specialist chemical company. It develops and manufactures crude
oil-based chemical and pharmaceutical products. The H&R Group
in Germany and its affiliated companies are a worldwide sales
network with refineries and specialty product plants at the service
of its customers to cover their needs in products like white oils,
wax emulsions, paraffin, plasticizing oils.
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.
Forward-Looking Statements
This release contains forward-looking statements
regarding Amyris, and any statements regarding Amyris other than
statements of historical facts could be deemed to be
forward-looking statements. These forward-looking statements
include, among other things, statements regarding future events
(such as expected growth in demand for renewable products and
anticipated Amyris revenue growth) that
involve risks and uncertainties. These statements are based on
management's current expectations and actual results and future
events may differ materially due to risks and uncertainties,
including risks related to manufacturing capacity at Amyris's
Brotas facility, delays or failures in development, production and
commercialization of products, liquidity and ability to fund
capital expenditures, Amyris's reliance on third parties to achieve
its goals, and other risks detailed in the "Risk Factors" section
of Amyris's quarterly report on Form 10-Q filed on August 14, 2017.
Amyris disclaims any obligation to update information contained in
these forward-looking statements whether as a result of new
information, future events, or otherwise.
All trademarks are the property of their respective
owners.
Media Contacts:
The Hansen & Rosenthal
Group:Thies Kaiser, PR/IR Managerthies.kaiser@hur.com+49
40 43218 321
Novvi:
William R Downey, Senior VP, Business
Development
downey@novvi.com
+1-917-214-8063
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