Olleco, Bunge partner to supply vegetable oils, collect used cooking oil for biofuels in Europe

Bunge, a leading producer of plant-based oils, and Olleco, the renewables division for ABP Food Group, announced an agreement Oct. 13 to form a 50/50 joint venture to create a business that encompasses the full lifecycle of edible oils.

The joint venture is expected to work with foodservice and food-manufacturing customers in Europe—excluding U.K. 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.

“We are pleased to partner with Olleco as we expand our portfolio of renewable feedstocks in Europe,” said Greg Heckman, Bunge CEO. “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.

“This is an exciting step for Olleco in Europe,” said Joe Kenny, Olleco CEO. “The 50/50 joint venture will accelerate our expanding footprint allowing us to unlock a wider, professionalized 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.”

Olleco is the U.K.’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 fertilizer.

Olleco employs more than 1,000 people at 19 sites strategically located throughout the U.K. and Ireland.

These service 50,000 catering establishments in addition to the Royal Household.