Castrol turns 125, looks to the future with new strategy
2024 marks a momentous 125th anniversary milestone for Castrol, a global leader in lubricants, and part of the bp group. As the global brand celebrates its 125th year, Castrol is unveiling a bold new ‘Onward, Upward, Forward’ strategy to meet the changing needs of customers as well as a special 125-year commemorative logo that will be used throughout 2024 in events and sponsorships across the world.
New strategy
Onward: advancing mobility solutions that help people and goods move with greater efficiency through innovative technologies and a commitment to the principles of circularity.
Upward: aimed at helping Castrol’s industrial customers and the machines they rely on, to perform better, improving the efficiency of their operations.
Forward: exploring exciting opportunities and a path of progressive diversification. Castrol’s initiatives include end-to-end digital and service solutions, data centre immersion cooling, and battery thermal management. This forward-thinking approach underscores Castrol’s commitment to staying at the forefront of innovation.
Already in action
The world of mobility is changing, and Castrol has the potential to help drive that change. To signal this change and reflect its new direction, Castrol refreshed its iconic brand in 2023.
To continue being at the cutting edge of innovation and be future-ready, Castrol is investing further in its global technology hubs in China, Germany, and the Americas, as well as a planned $60 million investment in a new, state-of-the-art electric vehicle (EV) battery testing centre and analytical laboratory in the UK.
Under the ‘Onward’ pillar of its strategy, Castrol has already launched a range of advanced Castrol ON EV Fluids, including EV Transmission Fluids, EV Thermal Fluids and EV Greases. The growing market for electric vehicles will most likely co-exist with the continued demand for internal combustion engine (ICE) and hybrids for many years. Castrol aims to keep helping ICE and hybrid vehicles be more efficient, while aiming to lead the way in EV Fluids.
Castrol will also focus on launching more circular products and offers by re-using base oils, which are used as the main constituent ingredient in lubricants. More circular transmission fluid has already been tested in an extreme environment with Jaguar TCS Racing successfully utilising Castrol’s more circular transmission fluid in their Formula E race cars at the 2023 Monaco E-Prix.
With the ‘Upward’ pillar of its strategy, Castrol will support its industrial customers to create more efficiencies, boost productivity, deliver circularity and drive value. Castrol serves the automotive, machinery manufacturing, robotics, aerospace, and wind sectors and in 2023, partnered with SKF to introduce its ‘Oil as a Service’ offer for the metalworking industry. This enables re-use of the lubricant fluid, reducing consumption while improving machine performance.
Castrol also entered a research collaboration with the Massachusetts Institute of Technology’s (MIT) Media Lab to support its AstroAnt Payload Program. AstroAnts constitute a miniature robotic swarm designed to perform inspections and diagnostic tasks on the external surfaces of spacecraft, rovers, and landers. Castrol will work closely with the MIT Media Lab to test space-grade lubricants to withstand the extreme environment of the lunar surface.
While the ‘Onward’ and ‘Upward’ pillars of the Castrol strategy focus on strengthening and growing existing areas of the company’s business, its ‘Forward’ initiatives chart out new areas where Castrol has the knowledge, capability and expertise to win. Castrol has identified thermal management and diversification into data centre cooling solutions as new growth opportunities. Castrol’s work on accelerating the adoption of immersion cooling for more efficient and more sustainable data centre operations is gaining momentum with GRC, Hypertec, Submer and IT hardware OEMs approving the use of Castrol ON immersion cooling fluids.
Michelle Jou, CEO of Castrol concludes: “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, helping them to face the challenges of tomorrow. We aim to grow our core business in new ways, using our cutting-edge technology and our trusted global brand to stay at the forefront of our sector. We’re developing more circular offers to help customers achieve their sustainability goals and exploring exciting new growth opportunities beyond lubricants. It’s a privilege to take Castrol’s 125-year-old iconic brand forward to serve the changing needs of customers and set our business up for future success.”