Lubricant brand Castrol has announced the creation of a joint venture with Romax Technology’s InSight business, a pioneer in predictive maintenance solutions.
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 company said.
The lubrication and maintenance of a wind turbines 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 per cent in maintenance costs.
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.”
Andy Poon, Romax Technology CEO adds, “We’re always looking at ways to drive innovation at Romax. 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. We are delighted to find in Castrol a partner who shares this vision and can provide a platform for growth. We look forward to working closely alongside them to take InSight to the next level.”