Springwise
Stay Green Oil is a platform offering a way for businesses to more easily sell their used oil to others instead of throwing it away.
In Tokyo, there is a candlemakers called Filt that sources the material for its products from the cafe situated on the ground floor of the same building, which hands over its used cooking oil. Could this kind of hand-me-down business model be replicated on a larger scale? Stay Green Oil hopes to tackle just this question, offering an easier way for businesses to sell their used oil to others instead of throwing it away.
The membership scheme allows both companies that produce waste oil and those that have a use for it to sign up. When a member is done with their oil – whether petroleum or cooking oil – they can set up an auction to attract bidders to buy their waste. Alternatively, they can privately contact other members local to them who may be interested in their product. The site then enables each party to arrange delivery and payment. It also provides analytics on both member sales and the oil market, allowing users to predict future revenues. The video below explains more about the company:
Currently in private beta, Stay Green Oil has already helped over 3,000 gallons of oil to be re-used, rather than being discarded. With rocketing prices and talk of peak oil, could a system such as this help us make use of the oil already available to us?
