OILS & LUBRICATION
FEATURE SPONSOR
JOINT VENTURE
The deal will make leading physics-based and data-driven predictive analytics available to more wind turbine operators, which could potentially result in a reduction of their maintenance costs by up to 30%.
COMBINING GLOBAL REACH AND EXPERTISE
With over 30 years’ experience working in the wind sector this deal will combine Castrol’s global reach and knowledge of wind turbine lubrication with Romax InSight’s expertise in predictive maintenance, software and data analytics for wind turbines.
The lubrication and maintenance of a wind turbine’s expensive gearbox is critical to optimising its performance and reliability. Romax InSight is a rapidly growing predictive maintenance provider, designing software and engineering services which monitor the condition of wind turbines and predict breakdowns – potentially resulting in a saving for its customers by up to 30% in maintenance costs.
POTENTIAL
Mandhir Singh, COO, BP Lubricants, said: “We’re incredibly excited about the potential this joint venture will create, both for the new business and also our existing customers. By working together I believe we will create a powerful, faster-growing business in the wind sector and beyond.”
Castrol has taken a controlling interest in Romax Technology’s InSight business, combining Castrol’s expertise in wind turbine lubrication with Romax Insight’s predictive maintenance, analytics and software business.
Over the past two years Castrol has supported the development of a number of digital solutions which complement its core lubricants business, including GreenSteam, a data analytics company specialising in fuel saving solutions for the marine industry; Castrol OPTIS, a technology company providing leading edge machine and operational efficiency solutions to the manufacturing industry; and Castrol Carama a digital market place that connects consumers seeking car service and repair to trusted workshops.
DRIVING INNOVATION
Andy Poon, Romax Technology CEO adds: “We’re always looking at ways to drive innovation at Romax. The aim of Romax InSight is to combine our deep understanding of design and operation of wind turbines with advanced data analytics to provide practical solutions that reduce operations and maintenance costs. “We are delighted to find in Castrol a partner who shares this vision and can provide a platform for growth. We look forward to working closely alongside them to take InSight to the next level.”
INDUSTRY JOINT VENTURE PARTNERS
With wind power predicted to grow strongly over the next 20 years (in 2015 wind generation grew by 17.4% in 2015, to reach 3% of global electricity supply)
Castrol as one of the world’s leading lubricant brands who have a proud heritage of innovation and fuelling the dreams of pioneers is looking forward to a successful future in the industry sector. This is mirrored by Romax Technology who is a global leader in software, analysis and services for gearboxes, bearings and electro-mechanical systems. They provide unique solutions across the product life- cycle to key industries including automotive, aerospace, renewable energy, off road, rail and marine.
Since 2012 Romax InSight has operated as a division of Romax Technology dedicated to wind turbine predictive maintenance and reliability engineering. InSight provides innovative condition monitoring and predictive maintenance solutions alongside premium consulting and advisory services for owners, operators and investors.
Castrol Romax Technology
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