Olleco and Bunge Agree to Joint Venture to Create a Full Life-Cycle Oil Collection Business in Europe
To ensure that edible oil consumption shifts toward a more sustainable model, manufacturers and consumers around the world have adopted a number of initiatives. ABP Food Group’s renewables division, Olleco, and one of the major producers of edible oils, Bunge, have announced their partnership in this direction. This will give the business a position along the entire value chain for the supply of edible oil and its recycling.
The joint venture is expected to supply edible oil and collect used cooking oil from food service and food manufacturing entities in Europe, excluding the UK and Ireland. Olleco’s cutting-edge techniques and Bunge’s dominance in the edible oil market will be combined to collect used cooking oil efficiently and turn it into biofuels. The joint venture will be able to address the upcoming environmental and energy challenges and will be a pioneer in the sustainable reuse of used cooking oil.