S-Oil Supplies SAF Raw Materials with Waste Cooking Oil Collection Company Olsu
Utilization of 120t Waste Cooking Oil for SAF Production
S-OIL announced on the 7th that it will receive 120 tons of waste cooking oil from Allsu, an online waste cooking oil collection platform company. The waste cooking oil will be used for 'coprocessing' based on existing petroleum production facilities to produce Sustainable Aviation Fuel (SAF).
Allsu is a startup that develops an online collection platform and is an eco-friendly company that systematizes the domestic and international waste cooking oil collection market to increase the recycling rate of waste cooking oil. In November 2022, S-OIL made a 700 million KRW equity investment in Allsu as part of strengthening ESG (Environmental, Social, and Governance) management.
Allsu operates an auction system that allows restaurants, franchise companies, and other food service businesses to trade waste cooking oil generated at market prices through a dedicated app, as well as a designated matching platform that directly connects collection partners with restaurants. Since last year, it has established a collection center in Siheung, Gyeonggi Province, to directly collect waste cooking oil.
In January, S-OIL succeeded for the first time in Korea in producing low-carbon eco-friendly products by processing bio raw materials such as waste cooking oil using existing refining facilities, and also obtained ISCC certification, an international certification for sustainable aviation fuel. In August, it began supplying sustainable aviation fuel once a week to Korean Air’s regular passenger flights for the first time in Korea, and in September, it started supplying SAF to regular passenger routes of Asiana Airlines and T’way Air.
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Ryu Yeol, President of S-OIL, stated, "We will make every effort to transform into a clean energy supplier that contributes to building a circular economy through the supply of eco-friendly energy and resource circulation products, including the expansion of the SAF ecosystem." He added, "We will seek ways to coexist through various cooperation models with startups such as Allsu."
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