AVISTA OIL AG and Greenbottle Ltd Announce International Re-Refinery J.V.
Following the recent acquisition of AVISTA OIL Services UK Limited by Greenbottle’s subsidiary Slicker Recycling Limited (“Slicker”), the parties have entered into a partnership to build a 100,000 tons feed capacity used oil re-refinery in Kalundborg, Denmark.
The current AVISTA OIL site in Kalundborg, which - since 2006 - has been collecting used oil and re-refining, benefits from having the infrastructure, planning permission and experienced staff to develop a new and increased capacity re-refinery for the Joint Venture parties.
AVISTA OIL and Greenbottle’s subsidiaries’ used oil collection networks will supply ample feedstock from different European markets. The Joint Venture will benefit from both parties’ experience in collection and trading of used oil, engineering know-how, production of high quality base oil and the sale of the finished products. The construction of the re-refinery, which will produce Group I+ base oil, is expected to be finalised by the end of 2019.
Slicker, the largest used oil collector in the UK, continues to invest to improve service quality whilst simultaneously expanding its operations and service lines. The re-refinery project is an opportunity for Slicker to leverage its market leading position and acquire additional used oil volumes to support the re-refinery whilst maintaining its existing Processed Fuel Oil markets. AVISTA OIL can concentrate on its core strengths of a vertically integrated business model whilst benefiting from its own used oil collection network and excellent existing third party supply structure.
Commenting on the decision, David Dinwoodie, Managing Director of of Greenbottle Limited, said: “We are delighted to be establishing a Joint Venture with AVISTA OIL AG. This is an exciting project that will bring together two like minded companies to re-develop a base oil re-refinery at economic scale in a relatively short time frame. Greenbottle will continue to grow its businesses in the UK whilst looking at ways to deepen its partnership with AVISTA OIL AG."
Commenting for AVISTA OIL AG, Marc Verfürth, CEO said: “After the fire in Kalundborg, we always believed that we would rebuild the facility. We offer a sustainable business model and this Joint Venture partnership with Greenbottle will enable AVISTA OIL to expand their re-refining capacity, increase the geographic footprint, with all parties benefiting greatly from this cooperation. We are very much looking forward to the end of next year, when Kalundborg will again be producing high quality base oil.”
AVISTA OIL AG
AVISTA OIL, founded in 1951, has a workforce of approximately 700 employees operating across seven countries in Europe and the US. It is one of the leading used oil re-refining companies serving its customers across the entire value chain: from used oil collection services and re-refining to the international marketing and the distribution of high-quality lubricants and associated products. Over the last few years, the industry pioneer has experienced continuous profitable growth, with its environmentally friendly AVISTA eCO2 system ensuring a significant benefit for the environment by providing high quality re-refined base oils to the markets.
Greenbottle is a clean energy business that invests in waste management and used lubricant oil processing and re-refining. The company is focused on the circular economy and being an important part of an environmentally sustainable closed loop ecosystem.
Slicker Recycling Limited
With 195 employees Slicker Recycling Limited is the UK’s largest purchaser, collector and processor of used lubricating oil and provides total waste management solutions across its extensive customer base.
For enquiries please contact:
AVISTA OIL AG
+49 5177 85385
Surrey KT11 3JT
+44 (0)1932 860856
Slicker Recycling Limited
Worcestershire DY13 9BZ
+44 (0)330 159 8325