American Refining Group commits to 33.3% equity in Amyris-Cosan JV

In California, American Refining Group, Inc. and Novvi LLC, a joint venture of Amyris, Inc and Cosan S.A. announced that ARG has committed to a 33.3% equity investment into the joint venture. Both Amyris and Cosan will continue to hold share ownership stakes in Novvi, together with ARG.

Novvi’s products and technology are recognized by the global lubricant market to deliver the best sustainable, high-performance solutions in a range of lubricant applications. ARG’s Bradford, Pennsylvania refinery, founded in 1881, is the oldest continuously operating refinery in North America.

Greater energy efficiency and durability are key growth drivers in high-performance base stocks and lubricants. Together, American Refining Group and Novvi believe that a novel, performance-based, technology platform that couples segment-specific, top-tier performance with sustainable, bio-based feedstocks delivers against the needs of the industry today and in the future.