Calumet Specialty Products Partners L.P. has completed the acquisition of Biosynthetic Technologies LLC.
Biosynthetic Technologies is a startup company and developer of proprietary renewable technology focused on the conversion of sustainable plant oils into high-performance synthetic base stocks. These unique estolides exhibit exceptional qualities for high performance lubricants, while also meeting stringent environmental specifications for biodegradability, bioaccumulation and toxicity.
Calumet plans to develop and commercialise these renewable esters at its existing esters manufacturing facility in Missouri, US.
The acquisition of Biosynthetic Technologies was completed in partnership with The Heritage Group, a technology partner whose business model offers synergies with Calumet that will maximise the value of the acquired technology portfolio.
"The acquisition of Biosynthetic Technologies and its technological capabilities align very well with the Partnership's specialty products-focused growth strategy, and our vision to be the premiere specialty petroleum products company in the world," said Tim Go, Chief Executive Officer of Calumet. "This acquisition, alongside the recently announced opening of our new Research and Development facility in Indianapolis, are indicative of Calumet's commitment to innovation. 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."
Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/10042018/calumet-completes-acquisition-of-biosynthetic-technologies/