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Business
Evonik invests in oil additives firm
by Michael McCoy
January 23, 2017
| A version of this story appeared in
Volume 95, Issue 4
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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