In a July 16, 2014, announcement, Evonik stated it has closed on an equity investment in Biosynthetic Technologies, LLC (BT), a specialist in biobased lubricants headquartered in Irvine, California. BT has developed and manufactures a new class of biobased synthetic oils called estolides that are used primarily in the passenger car motor oil and industrial lubricant sectors. Field trials have shown that the technical characteristics of the biobased synthetic oils made by BT are exceptionally...
