BioAccelergy Ventures signs a joint-development agreement with ExxonMobil Research and Engineering Company (ExxonMobil) to progress development of a new bio-base stock for lubricants manufacturing from seed and vegetable oil. The multi-year agreement aims to demonstrate the feasibility of producing bio-base stocks at a cost-effective commercial scale to reduce greenhouse gas emissions.
BioAccelergy will provide its expertise in bio-based feed supply, genetic research and advanced catalytic process development. ExxonMobil will leverage its knowledge in project management, engineering, manufacturing and marketing base stocks.
"BioAccelergy, its affiliates and technology partners, have been working with ExxonMobil for the past several years exploring this vertically-integrated platform for converting renewable feedstocks into high-quality base stocks," says BioAccelergy CEO Rocco Fiato. "We are delighted to have progressed to the current milestone and look forward to advancing this technology to commercial scale."
"ExxonMobil continues to develop and supply innovative products to support our customers' sustainability goals," said Mike Kerby, vice president for lubricants technology at ExxonMobil. "Together with BioAccelergy, we are working to determine the commercial viability of producing bio-base stocks to help lubricant manufacturers meet today's increasing demands to reduce greenhouse gas emissions while also maximizing fuel efficiency and equipment durability."
For more information, visit: www.bioaccelergy.com