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Global agribusiness giant Bunge and Olleco, UK, are forming a 50/50 joint venture to create a full life-cycle oil collection business in Europe.

The joint venture would involve the collection of used cooking oil (UCO) from food service and food manufacturing customers in Europe – excluding the UK and Ireland –for use as a feedstock in the production of renewable fuels, the companies said on 13 October.

Headquartered in Amsterdam, the joint venture would combine Bunge’s customer relationships, footprint and global expertise in vegetable oil production and Olleco’s experience in the supply, collection and conversion of cooking oils, the companies said.

“The 50/50 joint venture will accelerate our expanding footprint, allowing us to unlock a wider, professionalised service to the food industry,” Olleco CEO Joe Kenny said.

The renewables division of ABP Food Group, Olleco collects oil for conversion into high-grade biofuels and food waste for conversion into renewable energy and fertiliser. According to its website, the company operates 19 sites in the UK and Ireland and services more than 50,000 catering establishments. In addition to a network of local depots, the company operates three UCO bio-refineries, a biodiesel plant, a bulk liquid storage facility and three anaerobic digestion (AD) plants.