Cerulean, BASF Set Agreement

The Cerulean International subsidiary of the U.K.'s Oxonica has signed an agreement with BASF to cooperate in the further development and commercialization of Envirox, a new fuel-borne catalyst with demonstrated benefits of improved fuel consumption and reduced emissions. Under the agreement, BASF will use its expertise in fuel and fuel additive markets to sell the product in Europe and the Asia-Pacific region. Cerulean has been developing Envirox over the past three years. Parent company Oxonica designs functional nanomaterials and was spun out from the University of Oxford in 1999.