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Elevance Renewable Sciences recently announced a licensing agreement with Chemtura for its Aria WTP technology and market development. As part of the agreement, Chemtura will obtain the global rights to develop, derivatize, manufacture, use and sell products incorporating the Elevance Aria WTP technology in lubricant applications. Elevance retains rights outside lubricant applications.
The Aria WTP technology combines the benefits of two synthetic base stock technologies – synthetic esters and polyalphaolefins (PAOs) – into a single molecule to provide lower friction, improved wear, reduced foaming and better additive solvency characteristics.
"We are pleased to partner with Chemtura," said Gregory E. Gerhardt, Elevance's commercial director. "This agreement leverages the new-to-the-world technology present in Elevance Aria WTP technology with Chemtura's world-class capabilities in lubricant synthetic base stocks, additive synthesis, and sales and marketing infrastructure."
The agreement is in accordance with Elevance's collaborative business model to commercialize and bring its bio-based chemicals to market. By partnering with industry leaders in specific market segments or distinct technologies, the company aims to leverage complementary assets, capabilities and market access while providing its partners the opportunity to accelerate growth.
Chemtura is a developer, manufacturer and provider of additives and base stocks to lubricant formulators globally, including Synton high viscosity PAOs and Hatco synthetic esters.
"We are excited about adding this unique technology to our toolbox," said David L. Stonecipher, Chemtura's global strategic marketing manager. "It fundamentally enhances our ability to bring next-generation, functionalized base stocks and additives to our global customers, ensuring we can deliver differentiated solutions to meet their needs."
For more information, visit www.elevance.com.