The Institute of Materials (IOM) was founded in 1984 in Midland, Michigan U.S.A. to provide reliable and unbiased data on the physical, chemical, and performance-associated characteristics of automotive engine oil obtained from the worldwide marketplace. Serving the oil and lubricant industry, IOM publishes the world's largest independent and unbiased compilation of engine oil test data. Bench test performance data is available on engine oil samples collected throughout North & South American, Europe, and Asia-Pacific, including new territories in Africa and the Middle East. 

In the early days, IOM collected and tested 110 oils annually from the marketplace in North America as a pilot program at the request of an automotive manufacturer as an unbiased source of the oil quality being offered on the market. The program continued to expand over the years and with the advent of more technological advancements in chemistries associated with engine oil formulations and the need for higher quality engine oils to drive new, more advanced and efficient engines.  The IOM database has grown into an annual collection of over 650 retails oils from around the globe each year -with test data made available on the IOM website for easy purchase and download. In total, IOM has collected and evaluated more than 18,000 oils from the market.

IOM is a privately held company. Sister companies include King Refrigeration, Tannas Co. and Savant Labs, all of which are members of the Savant Group of companies. All four Savant Group companies are ISO 9001:2015 certified and actively participate in industry organizations involved with the advancement and quality control of lubrication such as the ASTM, SAE, ILSAC, STLE, ILMA, EI and CEC.