Olleco and Bunge agree to joint venture to create a full life-cycle oil collection business in Europe – biofuel production.
Bunge (NYSE: BG), a leading producer of plant-based oils, and Olleco, the renewables division for ABP Food Group, announced an agreement to form a 50/50 joint venture to create a business that encompasses the full life-cycle of edible oils.
The joint venture is expected to work with foodservice and food manufacturing customers in Europe – excluding UK and Ireland – to supply oils and ensure the used cooking oil (UCO) is efficiently collected and used as a feedstock in the production of renewable fuels.
The solutions and services to be offered will help address environmental and energy security challenges from key markets in Europe.
Greg Heckman, Bunge CEO, said:
We are pleased to partner with Olleco as we expand our portfolio of renewable feedstocks in Europe.
“Together, we share a commitment to sustainability and to finding innovative solutions to reduce carbon in our value chains.”
The partnership, headquartered in Amsterdam, is expected to leverage Bunge’s customer relationships, footprint and global expertise in vegetable oil production and Olleco’s market leading model in the supply, collection and conversion of cooking oils.
Joe Kenny, Olleco CEO, said:
This is an exciting step for Olleco in Europe.
“The 50/50 joint venture will accelerate our expanding footprint allowing us to unlock a wider, professionalised service to the food industry that works to capture this valuable resource. We’re delighted to partner with Bunge, a company that is agile, innovative and committed to the renewables space.”
About Olleco
Olleco is the UK’s leading supplier of premium cooking oils and collector of used cooking oil and food waste. The oil Olleco collects is converted into high-grade biofuels and the food waste collected is transformed into renewable energy and fertiliser.
This helps our customers play their part in creating a circular economy. Olleco has grown into one of the nation’s most successful sustainability specialists, employing over 1000 people, at 19 sites strategically located throughout the U.K. and Ireland.
These service 50,000 catering establishments in addition to the Royal Household. Olleco’s operations have helped many of the food industry’s most famous names to reduce their environmental impact by hundreds of thousands of tonnes of CO₂e. www.olleco.co.uk
About Bunge
At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security, and help communities prosper.
As the world’s leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of agriculture across our value chains and to bring quality products from where they’re grown to where they’re consumed.
At the same time, we collaborate with our customers to create and reimagine the future of food, developing tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world.
Our Company is headquartered in St. Louis, Missouri, and we have almost 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.
READ the latest news shaping the biofuels market at Biofuels Central
Olleco and Bunge Agree to Joint Venture to Create a Full Life-Cycle Oil Collection Business in Europe,St. Louis, U.S / Shrewsbury U.K., October 13, 2022
