Castrol celebrates 125 Years with a new strategic vision for future
Press Release by Castrol Wed 17 Jan 2024
As Castrol marks its 125th anniversary, the company has unveiled its new strategy ‘Onward, Upward, Forward’.
New Strategic Pillars
The ‘Onward’ aspect focuses on advancing mobility solutions with innovative technologies and embracing circularity principles.
‘Upward’ is dedicated to enhancing the performance and efficiency of industrial customers and their machines.
‘Forward’ explores new opportunities and a path of progressive diversification, including digital and service solutions, data centre immersion cooling, and battery thermal management.
Innovations and Investments Underway
Reflecting its commitment to innovation, investments in global technology hubs and a £47.3 million ($60 million) investment in a new EV battery testing centre in the UK are underway.
Under ‘Onward’, Castrol has launched Castrol ON EV Fluids and is focusing on more circular products, as demonstrated by its use of more circular transmission fluid in Jaguar TCS Racing’s Formula E cars.
The ‘Upward’ strategy supports industrial customers in creating efficiencies and driving value, with ventures like the ‘Oil as a Service’ offer developed with SKF. Collaboration with Massachusetts Institute of Technology’s (MIT) Media Lab on space-grade lubricants further exemplifies this approach.
Under ‘Forward’, Castrol is identifying new growth opportunities in thermal management and data centre cooling solutions. Its work on immersion cooling for data centres is gaining momentum with partnerships with companies like GRC, Hypertec, Submer, and IT hardware OEMs.
Michelle Jou, CEO of Castrol, shared her vision: “As we celebrate 125 years, Castrol is not just reflecting on the past but charting a course for the future. Our ‘Onward, Upward, Forward’ strategy embodies our dedication to accelerating our customers’ progress.”
Jou emphasised developing more circular offers to meet sustainability goals and exploring new growth opportunities beyond lubricants, taking Castrol’s iconic brand forward to meet future challenges and successes.