Advonex International is Expanding Product Line to Address Broader Markets
Advonex International, an innovator in the bio-chemicals industry, produces hydrocarbons from biological feedstock through its patented processes. These renewable hydrocarbons enable high-performance lubricants, organic, renewable cosmetics and lotions by replacing petroleum-based ingredients with better-performing renewable components. The company’s lubricating base oil, Entrada™-BASE, has been demonstrated to be superior in performance to petroleum-derived base oils. Advonex International, formerly Altranex Corporation, has rebranded and is addressing new markets. The company’s rebranding reflects its continued focus on renewable hydrocarbons for global markets.
Launching Success
Chad Joshi is a seasoned C-level executive who specializes in building technology companies through collaboration and strategic partnerships. He has led privately-held and venture-backed companies from pre-revenue through market and product development to significant revenues. Most recently, Chad founded Advonex International (formerly Altranex).
In January, 2016, Advonex partnered with Minnesota Soybean Processors to transform soybean oil into Entrada-BASE. MnSP has invested in the company and licensed Advonex technology for production.
On September 20, Advonex received $4.2 million in funding from Sustainable Development Technology Canada, a federally funded foundation that supports the development and commercialization of clean technologies. The money will help pay for a 1T/ day pilot plant facility to produce bio-based lubricants.
“Working at Innovation Park has allowed us to take full advantage of Kingston’s resources to develop our technology. We’ve had the chance to work with Launch Lab, Queen’s University, GreenCentre Canada and much more. We wouldn’t be where we are today if it wasn’t for Kingston and it’s unique ecosystem,” said Chad Joshi, Founder and CEO of Advonex International.
Advonex is addressing the beauty and personal care industry with the development of renewable waxes and emollients that can eliminate the need for petroleum in cosmetics and personal care. It’s Entrada™-WAX (paraffinic and microcrystalline) and Entrada-M can deliver plant-sourced oils and waxes for the natural cosmetics that consumers are seeking with the production consistency that manufacturers need.
Advonex is looking to take its products to market, grow its technology and turn it into commercial manufacturing using their strategic partners.