Castrol, a lubricant company part of the bp group, is celebrating its 125th anniversary in 2024 To mark this milestone, Castrol is introducing a new strategy titled “Onward, Upward, Forward” to address evolving customer needs, along with a special 125-year commemorative logo for use in worldwide events and sponsorships throughout the year.
The company said the “Onward” component of the strategy focuses on advancing mobility solutions with greater efficiency through innovative technologies and embracing circularity principles. “Upward” is aimed at enhancing the performance of Castrol’s industrial customers and their machinery, improving operational efficiency. The “Forward” aspect explores diversification opportunities, including digital and service solutions, data center immersion cooling and battery thermal management.
In 2023, Castrol refreshed its brand to reflect its commitment to being at the forefront of innovation, the company said. The company is investing in its global technology hubs and planning a $60 million investment in a new electric vehicle (EV) battery testing center and analytical laboratory in the UK.
Under the “Onward” strategy, Castrol has also launched Castrol ON EV Fluids, catering to the growing electric vehicle market alongside continued support for internal combustion engine and hybrid vehicles. Castrol is also focusing on more circular products, exemplified by the use of circular transmission fluid in Jaguar TCS Racing’s Formula E cars at the 2023 Monaco E-Prix.
“As we celebrate 125 years, Castrol is not just reflecting on the past but charting a course for the future,” said Michelle Jou, CEO of Castrol. “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.”
