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Calumet Specialty Products Partners recently announced that it has acquired Biosynthetic Technologies, a startup company and developer of renewable technology focused on the conversion of sustainable plant oils into high-performance base stocks.
Headquartered in Irvine, California, Biosynthetic Technologies holds exclusive rights to patented technology that converts fatty acids found in plant and animal oils into high-performance synthetic oils that can be used in industrial lubricants, personal care products and other chemicals.
The company's unique estolides are formulated for high-performance lubricants while also meeting environmental specifications for biodegradability, bioaccumulation and toxicity. Calumet plans to develop and commercialize these renewable esters at its existing esters manufacturing facility in Missouri.
"This acquisition, alongside the recently announced opening of our new research and development facility in Indianapolis, are indicative of Calumet's commitment to innovation," said Tim Go, Calumet's chief executive officer. "The technology and expertise we have acquired will help extend our existing esters business into new, forward-thinking product formulations with exceptional qualities for which the Calumet name represents."
Previously, Biosynthetic Technologies was a privately held company funded in part by multiple FT Global 500 companies.
A leading independent producer of specialty hydrocarbon and fuel products, Calumet Specialty Products Partners is based in Indianapolis and operates 11 manufacturing facilities located in northwest Louisiana, northern Montana, western Pennsylvania, Texas, New Jersey and eastern Missouri.
For more information, visit www.calumetspecialty.com.