Embodiments disclosed herein describe a system for producing enhanced wax alternatives. The system comprises a reactor with at least one inlet and one outlet and at least one high shear mixing device with at least one inlet and one outlet. The at least one outlet of said high shear mixing device is in fluid communication with at least one inlet of said reactor. The high shear mixing device may comprise counter rotating rotors. The high shear mixing device may also comprise at least one catalytic surface. Embodiments disclosed herein also describe a method of producing enhanced wax alternatives. The method comprises (1) providing petroleum wax and base oil; (2) mixing said petroleum wax and base oil with a hydrogen-containing gas in a high shear device to form a feedstock; and (3) hydrogenating said feedstock for a time sufficient to produce enhanced hydrogenated products.