Castrol, one of the world’s leading lubricant brands, has acquired a controlling interest in Romax Technology’s InSight business.
InSight is the division of Romax Technology dedicated to wind turbine predictive maintenance and reliability engineering, which offers services from engineering gearbox upgrades to conducting offshore end of warranty inspections.
“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% in maintenance costs,” Castrol stated.
The lubricant company, acquired by oil & gas giant BP in 2002, said the joint venture will combine its global reach and knowledge of wind turbine lubrication with Romax InSight’s expertise in predictive maintenance, software and data analytics for wind turbines.
Mandhir Singh , COO, BP Lubricants, said: “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.”