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Business

Evonik invests in oil additives firm

by Michael McCoy
January 23, 2017 | APPEARED IN VOLUME 95, ISSUE 4

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Credit: Evonik
NIS’s labs in Avenel, N.J.
Credit: Evonik
NIS’s labs in Avenel, N.J.

Evonik Industries’ venture capital arm has invested an undisclosed sum in Nanotech Industrial Solutions, an Avenel, N.J.-based maker of additives for engine oils, metalworking fluids, and greases. Founded in 2012, NIS has developed nano-sized, fullerene-like tungsten disulfide particles that provide friction-reducing properties to lubricants. Evonik already supplies a line of polymeric additives to the lubricants industry.

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