Grace -- Chevron Joint Venture Celebrates Tenth Anniversary

COLUMBIA, MD--April 1, 2011: Advanced Refining Technologies LLC (ART), a joint venture between W. R. Grace & Co. and Chevron Products Company (Chevron), is celebrating ten years of successful business activity. The venture was created in 2001 to develop, market and sell a comprehensive line of hydroprocessing catalysts that help refiners convert heavy crudes and bitumens into lighter products, and remove sulfur and other contaminants from petroleum to produce more environmentally-friendly transportation fuels.

“Our foundation, a customer commitment to proven industry-leading catalysts and technical service, is backed by the research and development power of both the Chevron and Grace organizations.”

Today, the organization employs 200+ people around the world and is generating in excess of $300 million in annual revenue.

The relationship between Grace and Chevron dates back to 1965, when Grace began manufacturing hydrocracking catalysts for Chevron-designed units.

"Forming the joint venture was a natural extension of the prior relationship between our two companies," said Scott K. Purnell, General Manager and Managing Director, Advanced Refining Technologies LLC. "Combining Grace's material science, manufacturing, marketing and sales strength with Chevron's extensive experience operating its own refineries and leadership in design and process licensing proved to be a formula for tremendous business success."

Through new product innovation and business development, ART has grown significantly since it began operations on March 1, 2001. In 2002, ART acquired Orient Catalyst Company's hydroprocessing catalyst technologies and the HOP catalyst product line. In 2007, ART obtained an ownership position in Kuwait Catalyst Company, which had been manufacturing HOP resid hydroprocessing catalysts under license since 2001. Over the past decade, ART also acquired and effectively integrated new catalyst technologies from several companies, including Crosfield and Japan Energy.

Between 2006 and 2010, to keep pace with the demand for ART catalysts, driven in part by more stringent clean fuels standards and increased residue processing, ART expanded manufacturing capacity at its North American plants in Chicago, Illinois; Baltimore (Curtis Bay), Maryland and Lake Charles, Louisiana.

"We look to the future with enthusiasm and optimism," said Woody Shiflett, Deputy Managing Director, Advanced Refining Technologies LLC. "Our foundation, a customer commitment to proven industry-leading catalysts and technical service, is backed by the research and development power of both the Chevron and Grace organizations."

Today, ART is a leading global supplier of hydroprocessing catalysts, including fixed-bed, onstream catalyst replacement (OCR) and ebullating bed products, designed for processing resid feedstocks.

ART also offers a full line of distillate catalysts used in processing ultra-low sulfur content gasoline and diesel fuel, including the SmART Catalyst System and ApART catalyst systems, which are customized for individual refiners. Most recently, ART has introduced DX 420 catalyst, a next-generation offering for the production of ultra-low sulfur diesel.

About Grace

Grace is a leading global supplier of catalysts and other products to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide range of industrial applications; sealants and coatings for food and beverage packaging, and specialty chemicals, additives and building materials for commercial and residential construction. Founded in 1854, Grace has operations in over 40 countries.

About Chevron Products Company

Chevron Products Company is a wholly owned subsidiary of Chevron Corporation engaged in the refining, marketing and transportation of petroleum products in the United States. Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company's success is driven by the ingenuity and commitment of its employees. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. M