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- Cleanaway Waste Management (CWY) acquires Australian Eco Oils for $39 million
- The company signed a binding agreement with the company, one of Australia’s largest collectors and processors of used cooking oil
- The company aims to use the acquisition as part of its plan to extract “valuable” fats and oils from waste streams, turning them into renewable fuels
- Shares in CWY are up 1.35 per cent to $2.63 at 2:14 pm AEST
Cleanaway Waste Management (CWY) has acquired Australian Eco Oils (AEO) for $39 million.
The company signed a binding agreement with the company which is one of the largest collectors and processors of used cooking oil (UCO) in Australia, producing approximately 11,500 tonnes of UCO annually.
“The AEO acquisition provides an attractive entry point into a new, adjacent market for Cleanaway at a time where high-quality, traceable UCO is becoming an increasingly important source of feedstock for the production of renewable fuels, including Sustainable Aviation Fuels and Renewable Diesel,” Cleanaway CEO and Managing Director Mark Schubert said.
“The business will form part of our Liquids & Technical Services strategic business unit alongside our leading grease trap business to expand our service offering to restaurants and other food service customers with more circular and lower carbon solutions.”
The company aims to use the acquisition as part of its plan to extract “valuable” fats and oils from waste streams, turning them into renewable fuels.
Shares in CWY were up 1.35 per cent to $2.63 at 2:14 pm AEST.
