Castrol and Romax Technology enter into joint venture

Castrol announced the creation of a joint venture with Romax Technology's InSight business, a pioneer in predictive maintenance solutions, on Tuesday.

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 percent in maintenance costs.

"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," said Mandhir Singh, COO, BP Lubricants.

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.

"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," added Andy Poon, CEO, Romax Technology.