Elevance Announces Licensing Agreement with Chemtura
Elevance Renewable Sciences Inc. recently announced a licensing agreement with Chemtura.
Elevance Renewable Sciences Inc. recently announced a licensing agreement with Chemtura, a global, specialty chemicals company, for Elevance Aria® WTP technology and market development.
Chemtura will reportedly have global rights to develop, derivatize, manufacture, use and sell products incorporating the Elevance Aria WTP technology in lubricant applications. Elevance has retained rights outside lubricant applications.
“At Elevance, we employ a strategic partnership business model by engaging with leading companies, like Chemtura, that see value in using our unique building blocks such as our unsaturated esters in distinct market segments,” said Gregory E. Gerhardt, 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. We are pleased to partner with Chemtura.”
“We are excited about adding this unique technology to our tool box,” said David L. Stonecipher, global strategic marketing manager, Chemtura. “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.”
Elevance Aria WTP technology combines the benefits of two key synthetic base stock technologies―synthetic esters and PAOs―into a single high-performing molecule, reportedly providing advanced lubricating properties including lower friction and improved wear, along with reduced foaming and better additive solvency characteristics.