calumet

What calumet does

Calumet, Inc. is an Indianapolis, Indiana-headquartered specialty petroleum products manufacturer founded in 1916, operating across two primary segments: a Specialty Business and a wholly-owned renewable energy subsidiary called Montana Renewables. The Specialty Business produces a broad portfolio of branded petroleum-based chemistries including white mineral oils (Drakeol, Duoprime), gelled products (Versagel, Versastique, Synergel), transformer and electrical insulation oils (Caltran, UVOLTESSO), naphthenic and paraffinic process oils (CALSOL), polyol-ester lubricants (CalEster), USP-grade petrolatums and ointment bases, mineral jellies, refrigeration oils, and consumer fuel and powersports products under the TRUFUEL and Bel-Ray sub-brands. These products serve pharmaceutical, cosmetic, industrial, electrical utility, HVAC, consumer outdoor equipment, and aerospace end-markets, with the Montana Renewables subsidiary additionally developing sustainable aviation fuel and renewable feedstocks validated through a partnership with Gulfstream Aerospace.

The company's go-to-market is a direct B2B sales model with global reach, supported by online sample and data-sheet request workflows, dedicated customer service and technical support channels, and a corporate website organized by product, industry, and application. Pricing is quote-based and not publicly disclosed, consistent with industrial specialty chemical sales. The firm maintains a dedicated Investor Relations site, suggesting institutional or external shareholders, and operates an active news and product-launch cadence including TRUFUEL record sales (March 2026), Bel-Ray Powersports reformulation (July 2026), and the Montana Renewables-Gulfstream collaboration (July 2026). Core technology is conventional petroleum refining and specialty chemical formulation rather than digital or AI-driven platforms.

Name

calumet

Legal name

Calumet, Inc.

Website

https://calumetlubricants.com

Company type

Private

Founded year

1916

Operating status

Operating

Headcount range

11–50 employees

Short description

Calumet is an Indianapolis-based specialty petroleum products manufacturer (founded 1916) producing branded white mineral oils, gels, transformer oils, esters, USP excipients, powersports lubricants, and renewable fuels via its Montana Renewables subsidiary for pharmaceutical, industrial, electrical, consumer, and aerospace customers.

Ownership category

akta.pro rank

Product category

Specialty Chemicals

NAICS

Petroleum Lubricating Oil and Grease Manufacturing (324191), Fats and Oils Refining and Blending (311225)

SIC

Fats & Oils (2070), Industrial Organic Chemicals (2860)

akta.pro industry

PRIMARYEUALAJAA

Base Oil Production & Supply (Group I–V, Re-refined)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Lubricants & Base Oils (Blending, Additives, Distribution)

Keywords

• Specialty lubricants
• White mineral oils
• Petroleum jelly
• Renewable diesel
• Transformer oils

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Distribution channels1 record

Marketing channels3 records

Core offering

Calumet manufactures and sells specialty petroleum-based products — including white mineral oils, gelled products, transformer oils, naphthenic and paraffinic process oils, polyol ester lubricants, petrolatum, mineral jellies, refrigeration oils, and candle gels — for pharmaceutical, cosmetic, industrial, electrical, and consumer-fuel end markets. The company also produces ready-to-use outdoor power equipment fuels and powersports engine oils under the Bel-Ray and TRUFUEL sub-brands, and operates the Montana Renewables business unit producing renewable diesel and sustainable aviation fuel.

Product overview

Calumet is a specialty products manufacturer offering a diverse portfolio of petroleum-based products organized into distinct business units and product lines. The company operates two primary segments: the Specialty Business (traditional specialty chemicals and petroleum products) and Montana Renewables (renewable energy). The product portfolio includes white mineral oils (Drakeol®, Duoprime®), gelled products (Versagel®, Versastique®, Synergel®), transformer oils (Caltran™, UVOLTESSO™), naphthenic and paraffinic oils (CALSOL™), polyol esters (CalEster™), petrolatum, mineral jellies, refrigeration oils, and fuel products (TRUFUEL®). The company also markets Bel-Ray Powersports oils through a sub-brand. Products are organized by chemistry type and application, serving pharmaceutical, cosmetic, industrial, electrical, and consumer markets.

Differentiator

Problem solved

Functional benefit

Brands

• Montana Renewables: Leading the renewable energy transition with clean, reliable and affordable energy for today and the future.
• Bel-Ray
• TRUFUEL

Products and services

• Drakeol White Mineral Oils White mineral oil USP product line including multiple viscosity grades for pharmaceutical, cosmetic, and industrial applications.
• Duoprime Oil Premium white mineral oil product line offered in various viscosity grades for food, pharmaceutical, and industrial uses.
• Versagel Gelled Mineral Oils Gelled mineral oil product line with multiple variants (M, MC, MD, ME, MG, ML, MN, MP, P, S, SQ, SF, C LP, C MP, C HP, CC) for cosmetic, pharmaceutical, and candle applications.
• Versastique Clear Gelled Oils Clear gelled mineral oil product line including M 40T, ME 40T, ML 40T, and Clear variants for cosmetic and pharmaceutical applications.
• Synergel Gelled Petroleum Products Gelled petroleum-based product line with SA V 50, SC V 50, HB 125, M 500, M 750, M 1600, MR 500, BG, PC, A-200 V50, LVP 100, and VMP variants for various industrial applications.
• Caltran Transformer Oils Transformer oil product line including 60-08, N60-08, 60-30, 60-15, N60-15, N60-30, and 60-00 GROUP variants for electrical insulation applications.
• UVOLTESSO Transformer Oils Transformer oil product line with 35 and N36 variants for electrical equipment insulation.
• CALSOL Naphthenic and Paraffinic Oils Naphthenic oil product line including 5 Series, 8 Series, and P9 Series, plus PORCHEX paraffinic oil for various industrial lubrication applications.
• CalEster Polyol Ester Lubricants Polyol ester-based lubricant product line with N, TS, MW, A, T, T9, 600, J, L, F, K, M, 202, H, HV, 22 PRO, 32 PRO, DB2, and M170 variants for refrigeration and industrial applications.
• Petrolatum USP Pharmaceutical-grade petrolatum product line including Ultima White Pet USP, Super White Pet USP, Snow White Pet USP, and other grades for cosmetic and pharmaceutical applications.
• Mineral Jelly

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Gulfstream AerospacecoreTechnology or Integration · 8 July 2026Montana Renewables, Calumet's renewable energy subsidiary, collaborates with Gulfstream Aerospace for low-emissions testing. This partnership supports the development and validation of sustainable aviation fuel and low-emission energy solutions for the aerospace industry.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Direct peers

• Nynas: Swedish specialty naphthenic oils and petroleum specialty producer with a comparable portfolio of base oils, transformer oils, and process oils serving industrial customers across multiple end-markets.
• Neste: Global leader in renewable diesel and sustainable aviation fuel, directly comparable to Calumet's Montana Renewables segment and a benchmark for SAF scale and economics.
• World Energy: Pure-play sustainable aviation fuel producer with comparable renewable fuels assets, providing a direct comp on Montana Renewables' SAF commercial positioning.
• Stepan Company: Specialty chemicals manufacturer producing esters, surfactants, and polymers for industrial and consumer markets, with comparable custom-formulation capabilities and B2B specialty distribution model.
• Petro-Canada Lubricants: Suncor subsidiary producing specialty lubricants, base oils, and white oils for industrial and consumer markets, with overlapping product breadth in Calumet's specialty portfolio.
• Afton Chemical: Specialty lubricant and fuel additive manufacturer owned by NewMarket, competing in performance additives and formulated lubricants for industrial and automotive customers.
• HF Sinclair: U.S. refiner with a specialty base oils and lubricants segment (formerly HollyFrontier Specialty) that competes head-to-head with Calumet in naphthenic and paraffinic base oils and finished lubricants.

Broad incumbents

• NewMarket Corporation: Petroleum additives holding company (Ethyl, etc.) serving lubricant and fuel customers; broader portfolio player in petroleum specialty chemistry adjacent to Calumet's core business.
• ExxonMobil: Global integrated major with Mobil-branded lubricants, base oils, and an expanding SAF platform (ExxonMobil SAF); a scaled competitor across Calumet's specialty and renewable segments.
• Sasol: Global integrated chemicals and energy company with specialty waxes, paraffins, and base oil derivatives overlapping with several Calumet product lines.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/calumet

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about calumet