Shell buys Asia-based waste oil recycler to boost biofuels output.
Shell Eastern Petroleum, a unit of oil giant Shell (SHEL.L), said it has acquired Asia-based waste oil recycling firm EcoOils to expand its biofuels production.
The company will completely take over EcoOils’ subsidiaries in Malaysia and a 90% stake in its Indonesian subsidiaries through the deal, Shell Eastern said in a statement, but did not disclose the value of the investment.
Sinead Lynch, senior vice-president for low carbon fuels at Shell, said:
This acquisition provides secure access to a recognised, advanced feedstock, which can be used at Shell’s biofuels facilities to meet that aim.
EcoOils has a production capacity of 65,000 tonnes per year of spent bleaching earth oil, a type of recycled oil that can be used as feedstock for biofuel production.
Bleaching earth is a clay material used to absorb impurities during the palm oil refining process.
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Shell buys Asia-based waste oil recycler to boost biofuels output, Singapore, October 1, 2022
