A new online exchange has been established for trading used oil and lubricants.
The StayGreen website home page Image:StayGreen |
Set up by Florida-based company StayGreen Oil, which specialises in working with the used oil industry, the new website, www.staygreenoil.com, is designed to ease the trade between buyers and sellers of waste lubricants and cooking oil.
The site has a simple design including facts about oil recycling and a free-to-register membership section which offers analytics reports that track members' supply revenues, auction statistics and trading metrics.
The site functions as an auction house, where purchasers and vendors can gain the best price for used oils destined for recycling - particularly for biofuels and biolubes. Initally launched for the US market, but accessible globally across the internet, StayGreen has ambitions to make the site a global market hub for used oil trade.
According to StayGreen Oil's co-founder, Michael Griffith: "There currently exists a growing global demand for re-refined basestocks derived from used engine oils and an increased call for used cooking oils required for biodiesel production. StayGreen Oil is the only system of its kind and will revolutionize the way the market interacts to fill these needs."