Chevron invests in Cosan and Amyris’ Novvi producing bio-based hydrocarbon molecules

In California, Chevron Products Co., a division of Chevron U.S.A. Inc., and Novvi LLC—a joint venture of Amyris Inc., Cosan S.A. and American Refining Group—announced that Chevron has made an equity investment into Novvi. Terms of the transaction were not disclosed. Novvi produces targeted hydrocarbon molecules from plant sugar for automotive, industrial, marine, and construction applications. In addition to an equity investment, Chevron and Novvi plan to work together to introduce new base oils and lubricants to the industry in key areas.