The agreement includes options to renew until 2036.
Flotek Industries, a leader in green specialty chemistries serving industrial, commercial and consumer markets, has entered into a long-term agreement with Resolute Oil, a leader in high-quality white mineral oil serving consumer and industrial customers, to leverage capabilities and facilities to drive growth in adjacent green chemistry markets. The agreement includes options to renew until 2036.
Through the agreement, Resolute Oil will fully utilize Flotek's entire 15-acre campus, including its 38,000 square foot chemical blending facility, based in Waller, TX, to manufacture United States Pharmacopeia-National Formulary (USP-NF)-grade white mineral oil distributed globally to customers in the agricultural, energy, food & beverage, cosmetic, and personal care markets. Flotek's facility is customized for the production of green chemistries and certified by the U.S. Food and Drug Administration (FDA) and Environmental Protection Agency (EPA), facilitating the production of food-grade chemistries.
With more than 164 patent assets, Flotek has leveraged its best-in-class research and innovation capabilities to become a global leader in sustainable chemistry technologies serving customers in consumer and industrial markets. The collaboration between Flotek and Resolute Oil will enable the companies to leverage their expertise and access adjacent market verticals for mutual benefit.
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