The newly established enterprise is anticipated to work with meals service and manufacturing prospects in Europe, excluding UK and Eire, to provide oils and guarantee used cooling oil is ‘effectively collected’. Used oil can be used as a feedstock for renewable fuels.
Olleco CEO Joe Kenney stated that the tie-up, which can be headquartered in Amsterdam, will improve Olleco’s attain in Europe. “That is an thrilling step for Olleco in Europe. The 50-50 three way partnership will speed up our increasing footprint permitting us to unlock a wider, professionalised service to the meals trade that works to seize this priceless useful resource.
“We’re delighted to associate with Bunge, an organization that’s agile, revolutionary and dedicated to the renewables area,” he added.
Bunge is just not disclosing how a lot can be invested within the 50-50 three way partnership, a spokesperson for the group instructed FoodNavigator. The enterprise will function on a stand-alone foundation nevertheless, we had been instructed, it should “leverage each firms’ information and assets”.
“We consider working in a two-way mannequin is environment friendly than every working individually. The 2 companies working collectively can finest assist our buyer wants. Bunge is a pacesetter in refined oils, and Olleco has expertise in working the two-way mannequin. Collectively the companies can develop a number one providing to finest service prospects by environment friendly distribution, aggressive worth and main buyer administration,” the spokesperson defined.
The enterprise is anticipated to learn from Bunge’s buyer relationships, footprint and world experience in vegetable oil manufacturing alongside Olleco’s ‘market main’ mannequin within the provide, assortment and conversion of cooking oils.
Bunge stated the service will assist tackle ‘environmental and vitality safety challenges’ in key European markets.
“We’re happy to associate with Olleco as we increase our portfolio of renewable feedstocks in Europe. Collectively, we share a dedication to sustainability and to discovering revolutionary options to scale back carbon in our price chains,” Bunge CEO Greg Heckman elaborated.
The businesses will not be detailing the amount of oil they hope to divert from waste streams and use as biofuel feedstock ‘for now’.
