Sun Private Equities said Friday that it has acquired a majority stake in Sustainable Refining. No financial terms were disclosed. Based in Franklin, New Hampshire, Sustainable Refining is a producer of renewable, vegetable-based industrial grade lubricants and oils.
Palm Beach, FL (PRWEB) May 16, 2014
Sun Private Equities (SPE) announced today that it has secured a major ownership position in Sustainable Refining, LLC. Sustainable Refining is a manufacturer of renewable, vegetable-based industrial grade lubricants and oils based in Franklin, New Hampshire. Its products provide a high-performance alternative to petroleum-based mechanical oils and lubricants.
With initial financial and consulting support from SPE, Sustainable Refining in early 2012 launched a line of cutting and bar & chain oils. “We have been excited by the overwhelming response to Sustainable Refining’s products,” said Laura Pearlman, a spokesperson for SPE. “Clearly there is a strong demand for environmentally responsible options.”
Sustainable Refining is one of a number of innovative green companies within SPE’s portfolio. “We recognize there is a lot of room for growth in the green sector,” continued Pearlman. “Green is no longer niche. These products are in demand because they are simply better, safer, less toxic options. ”
Sustainable Refining’s most recent release, GS-2000, is a bio-based rust protectant vehicle undercoating. GS-2000 has seen overwhelming demand within its first six months of test marketing. “GS-2000’s competitors all have some basic component or additive that is petroleum-based or hazardous,” commented Greg Eaton, Associate Director of Product Development at Sustainable Refining. “GS-2000 is our answer. Its formulation makes it soak in underneath any rust layer that has formed, helping to retard further oxidation of the metal. Applicators have begun signing up in many major U.S. markets, and several municipal and state bus and truck fleets have begun testing this product.”
Sustainable Refining will be rolling out their newest product, AC-1000 Industrial Anti-Corrosion Spray, in June of this year. It is specifically formulated to protect equipment and machinery, such as snow plows, winches and other equipment, from corrosion and is able to be applied “on the run” in the field.
The management of Sustainable Refining will continue to lead the organization. “This new partnership with SPE will accelerate Sustainable Refining’s current growth,” continued Eaton. “With new products in development and increased interest from larger corporate and government clients, we anticipate tremendous growth in 2014.”