Welcome!

News Feed Item

Castrol innoVentures invests in the future with smart mobility vision

DETROIT, Jan. 6, 2014 /PRNewswire/ -- Castrol innoVentures, the strategic innovation arm of Castrol, confirmed today their plans to further invest in the development of smart mobility trends of the future. 

Customers are demanding more efficient technology-led solutions in a range of transport sectors from shipping to trucking to consumer automotive and this has fueled Castrol innoVenture's investment strategy. Castrol innoVentures has made three recent investments towards this vision including Peloton, GreenSteam™ and Zubie.

"A pioneering company at its core, Castrol understands that the exchange of ideas and technologies between the automotive and tech industries has never been so vibrant and rich as it is today," said A.S. Ramchander, Castrol's VP Global Marketing. "Castrol innoVentures is the catalyst for these new types of smart mobility technologies to allow Castrol to innovate in and beyond lubricants in the transportation space."

"Our investments reflect our ongoing interest in technologies that have significant potential to offer better driving and maintenance experiences in the connected vehicle space as well as greater efficiency for our customers.  We have invested in companies that are leading the way in these areas and are keen to further invest in technologies and solutions that make our customers' lives easier," said Angel Gambino, General Manager, Smart Mobility, Castrol innoVentures.

Peloton Technology is advancing safety and efficiency technology solutions in the heavy truck industry. Peloton aims to reduce collisions and offer fuel savings of more than ten percent for users of its technology, which enables pairs of trucks to connect wirelessly and form an aerodynamic platoon. Castrol innoVentures' investment provides Peloton an opportunity to be one step closer to delivering their technology to the market.

Castrol innoVentures has also invested US$2 million in GreenSteam™, a technology company specialized in energy saving solutions for commercial marine vessels. Founded in 2006, GreenSteam™ develops advanced fuel saving systems that provide a reduction in the energy consumption of a ship of up to five percent. This software recommends new settings to optimize the trim and draft of a vessel, minimizing propulsion resistance. GreenSteam Optimizer is designed to react dynamically to changes in the ship's condition and environment, making it possible to operate with the greatest fuel efficiency.

In addition, Castrol innoVentures is part of a deal that raised $10 million in a round of Series A funding for Zubie. Launched nationally in September, the Zubie Service has the potential to make driving and owning a car easier and less expensive. The Zubie Key, a cellular device that plugs directly into a car, captures valuable vehicle and driving data for car owners and drivers. Data includes car diagnostics, family safety location-based alerts, driving behavior reports and several features to make daily driving easier – including travel coordination tools.

A particular area of focus for Castrol innoVentures is passenger car 'smart mobility'. With the investments already made in this area, and a strengthening of the executive team in this space, and with these and future investments Castrol innoVentures is committed to continuing to raise the bar in solving consumer problems and improve experience in the area of mobility. It is actively looking to invest in the telematics space, allowing aftermarket connection of cars to the internet via 4G and allowing for an app platform for automobiles.

To learn more about Castrol innoVentures, please visit: http://castrolinnoventures.com/.

About Castrol innoVentures
Castrol innoVentures is based in the UK with a global remit. It seeks out and invests in new business opportunities to support Castrol's core lubricants business and to develop options beyond lubricants. The Castrol innoVentures group was created to focus on investing in and building businesses that significantly improve customer experiences in the automotive aftermarket, among other sectors. The group makes strategic investments in technology start-ups that help its customers improve efficiencies. They also run a broader programme of open innovation, exemplified by the Castrol 20/20 challenge events in London, New York and Shanghai.

www.castrolinnoventures.com

About Peloton Technology Inc.
Founded in 2011 by a team of Silicon Valley entrepreneurs, Peloton Technology addresses major pain points of today's trucking fleets – accidents and fuel costs. The system developed by Peloton uses radar, DSRC and cellular vehicle-to-vehicle communications to link active safety systems between pairs of trucks, allowing them to travel safely in aerodynamic platoons, Peloton's connected-vehicle technology promises to improve safety and fuel efficiency for trucking fleets, and to support a variety of intelligent transportation applications serving industry and transportation agencies. www.peloton-tech.com

About GreenSteam™
GreenSteam™ is a technology company specialized in energy saving solutions for commercial vessels. Behind GreenSteam is a team of dedicated, highly educated engineers and scientists who have spent years of research to combine common-sense principles with advanced engineering to create a practical, simple-to-use energy saving system making it possible to reduce fuel consumption by 4-5% on average. The company was founded by three M.Sc. candidates from the Technical University of Denmark in 2006 and is today based in the Faroe Islands in the North Atlantic as well as in Copenhagen, Denmark.

About Zubie
Zubie is a mobile and Internet services company focused on maximizing connected car capabilities for consumers and businesses. The company, formerly known as GreenLight Connectivity Solutions, was formed in 2012, and is headquartered in Charleston, SC, with operational offices in the Minneapolis area. http://www.zubie.co

SOURCE Castrol innoVentures

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
How will your company move to the cloud while ensuring a solid security posture? Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is ...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.