HOUSTON, Dec. 15, 2021 (GLOBE NEWSWIRE) -- BioAccelergy Ventures has signed 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 industry-leading 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," said BioAccelergy's 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."
ExxonMobil is one of the world's largest manufacturers of base stocks and is investing in a range of intelligently designed global base stock slates to offer lower greenhouse gas emissions alternatives and secure consistent supply to customers.
BioAccelergy and its strategic partners are developing vertically integrated technology platforms that include genetic crop research and bio-based feed production and harvesting, coupled with advanced reactor and catalytic bio-process technology for production of a wide range of high-performance fluids, industrial and automotive lubricant base stocks.
Contact: 1-650-521-1440; rafiato@bioaccelergy.com; www.bioaccelergy.com
About BioAccelergy Ventures Corporation - BioAccelergy is a global leader in producing high-performance low-cost BioSpecialty fluids from a range of renewable feedstocks and in the development of hydrocarbon-based products with low overall carbon footprint. The Company has specifically targeted high-performance product compositions that are biodegradable and have low toxicity in order to meet increasingly demanding environmental requirements. Based in Houston, Texas, with partner facilities in Montana, New Jersey, North Dakota and Shanghai, China, BioAccelergy has established an international presence in partnerships with some of the world's leading energy companies.
This content was issued through the press release distribution service at Newswire.com.
