ReGen III is a publicly traded cleantech company engaged in re-refining and producing group III oil lubricants through its green project with compelling economics. ReGen III doesn’t take government subsidies and owns patented technologies enabling used motor oil refineries to produce high grade base oils.
The company claims that its technology has been proven two plant tests and also by Stantec Consulting Ltd., Wood Group Mustang, WSP Canada, Oak Ridge Laboratory, the U.S. Department of Energy, Process Dynamics Inc., Tetra Tech, and Koch Modular Process Systems. ReGen III leverages its innovative technology that differentiates the company from traditional refiners who only produce Group I and Group II base oils used to formulate motor oils for older passenger car engines or some other industrial applications.
The company reports that the oil refinery market in North America has a small proportion of companies producing Group III oil lubricants of high quality. According to the American Petroleum Institute, base oils are categorized into five main groups namely, I, II, III, IV, V.
Categorization is done by combining base oil properties proportional to saturates, viscosity and sulfur content and the refining method used. Group III base oil is often referred to as synthetic oil and in North America, there is only one re-refiner of this category producing 400 bpd of low-grade Group III.
The company’s technology produces a 55 per cent Group III yield. Group III oil is encountering an increasing demand since automakers and customers all over the world are shifting towards better quality motor oils and synthetic grade motor oils which provides a ready market for RenGen III.
RenGen III identifies the need for sustainable development and contributes towards meeting the below sustainable goals:
• Proper work and economic growth
• Industry innovation and infrastructure
• Sustainable cities and communities
• Responsible consumption and production
• Climate action
ReGen Technology refines used motor oil (UMO) in the following manner: The used motor oil arrives at the company's facility where it goes through several refining processes and contaminants are removed and the base oil is restored to its original state.
After processing the used motor oils, the highest quality base oils are separated from byproducts like ultra-low sulfur diesel. The final result is Group III and Group II base oils that meet the American Petroleum Institute’s standards.