The JV will be established following completion of feasibility studies and the renewable base oils will be made from Biofene, Amyris’s renewable farnesene.

Novvi’s base oils are designed to improve upon key environmental metrics including biodegradability, toxicity and renewability when compared with petroleum-sourced base oils, while delivering performance characteristics comparable to Group III and Group IV base oils.

Novvi will secure Biofene initially from Amyris production facilities and will convert it through chemical processing into high-end renewable base oils.

The company also plans to build Biofene production facilities in future.

Both the companies signed a preliminary agreement in 2010 for the formation and implementation of a JV.