Eco Oil
Eco Oil is a South Korea-headquartered multinational operating in Vietnam that collects used cooking oil from enterprises and households, converting it into biodiesel and Sustainable Aviation Fuel using automated collection machines and AI-powered tracking.
- Company typePrivate
- Founded2022
- HeadquartersMapo, South Korea
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Eco Oil does
Eco Oil is a multinational used cooking oil (UCO) collection and recycling platform, headquartered in Seoul, South Korea, with operating legal entity ECO OIL TRADING AND SERVICES CO., LTDA registered in Vietnam. Founded in 2022 with a headcount of 11–50, the company targets Vietnam's UCO market — estimated at 60,000–80,000 tons per year, of which only 10–15% is currently collected through formal channels. Eco Oil's customer base spans enterprise accounts (restaurants, hotels, food manufacturers, real estate developers, retail malls) and the long tail of households and SMBs, served through direct enterprise sales, automated self-service collection machines, door-to-door mobile routes, and Women's Union–anchored community collection points across Hanoi, Ho Chi Minh City, Hai Phong, Ninh Binh, and Binh Duong.
The company's core offering combines hardware, software, and downstream recycling coordination. Its flagship product is Vietnam's first automatic UCO collection machine (~100kg capacity, touch-screen interface, point-redemption system), complemented by a digital tracking application for partners (guide.ecooil.vn), GPS-enabled real-time reporting, an Oil Checker handheld quality-testing device, and an annual ESG reporting service for enterprise clients. Technology backbone is the Korean-standard Flow Metric system and AI capabilities licensed from strategic partner ReFeed, applied to route optimization, volume tracking, and quality control. Downstream, 100% of collected UCO is exported and recycled to international standards, with stated end-uses in biodiesel and Sustainable Aviation Fuel (SAF), positioning the business at the intersection of circular-economy compliance and aviation decarbonization.
Eco Oil generates revenue through three streams: transaction-fee-based UCO collection services (selling collected oil to biofuel recyclers), hardware sales of automated collection machines, and professional-services fees for ESG reporting. Go-to-market blends enterprise field sales (with tailored collection plans for accounts such as Vinhomes, Golden Gate Restaurant Group, and Five Star) with community-led grassroots mobilization via Women's Union training, school programs, and event-driven environmental campaigns. Strategic backing includes a 2022 pre-seed round from Antler (~$79,245), a Top 10 Impact Challenge at SEA 2024 award, and international partnerships with P4G and AOP.
Eco Oil firmographics
Firmographics- Name
- Eco Oil
- Legal name
- ECO OIL TRADING AND SERVICES CO., LTDA
- Website
- https://ecooil.vn
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Eco Oil is a South Korea-headquartered multinational operating in Vietnam that collects used cooking oil from enterprises and households, converting it into biodiesel and Sustainable Aviation Fuel using automated collection machines and AI-powered tracking.
- Ownership category
- akta.pro rank
Eco Oil industry classification
Industry- Product category
- Used Cooking Oil Collection and Biofuel Recycling
- NAICS
- Fats and Oils Refining and Blending (311225)
- SIC
- Fats & Oils (2070)
- akta.pro primary industry
- Used Oil & Oily Waste Management (Collection, Re-refining, Disposal) (BPALAFAI)
- akta.pro secondary industries
- Source-Separated Organics (SSO) Collection & Hauling (Food/Yard) (BPALAEAA), RNG Offtake, Marketing & Environmental Attributes (RINs/LCFS/Guarantees of Origin) (EUAAAEAG)
Keywords
Where Eco Oil is headquartered
LocationHeadquarters
- HQ city
- Mapo
- HQ country
- South Korea
- HQ region
- Asia
Offices3 records
Markets served
Eco Oil business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- UCO Collection Services: Eco Oil collects used cooking oil from businesses and households, providing collection containers (10KG and 25KG plastic cans). Revenue is generated through service fees and by selling collected UCO to recycling facilities for biofuel production.
- Collection Equipment Sales: Eco Oil sells and installs automated UCO collection machines to residential buildings, schools, and commercial establishments. The machines include point redemption systems for user engagement.
- ESG Reporting Services: Eco Oil provides transparent ESG reporting to business partners, documenting environmental contributions from UCO collection and recycling activities.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Eco Oil product offering
Product offeringCore offering
Eco Oil collects used cooking oil (UCO) from households, restaurants, hotels, food manufacturers, and industrial kitchens across Vietnam, using automated collection machines and door-to-door mobile collection. Collected UCO is exported and recycled to international standards into biofuels such as biodiesel and Sustainable Aviation Fuel (SAF), with transparent annual ESG reporting provided to enterprise partners.
Product overview
Eco Oil operates as an integrated used cooking oil (UCO) management platform combining hardware, software, and reporting services. The core offering centers on an automatic UCO collection machine — Vietnam's first such device — which serves as the primary physical touchpoint for residential and commercial customers. This hardware is paired with a digital tracking application that enables partners to monitor collection volumes, schedules, and environmental contributions in real time, while also offering point-based rewards for households. A complementary ESG reporting service delivers transparent annual environmental reports to enterprise clients, documenting their contributions to the circular economy. Together, these products and services form an end-to-end solution spanning collection, traceability, recycling coordination, and sustainability measurement.
Differentiator
Problem solved
Functional benefit
Products and services
- Automatic UCO Collection Machine Vietnam's first automated used cooking oil collection machine with a touch screen interface, point-redemption system, and nearly 100kg storage capacity. Deployed at residential buildings, schools, restaurants, and industrial kitchens for self-service UCO drop-off.
- UCO Collection and Recycling Service
Quantifiable outcome
- 100% of collected UCO recycled to international standards
- +3 more outcomes
Companies that use Eco Oil
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles3 records
Eco Oil technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature5 records
Eco Oil partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core, minor and flagship.
- Ecowave VietnamcoreTechnology partnership for optimizing UCO value chain through digitalization and real-time data management systems for collection monitoring.
- Sakura Kids (Trường Mầm non Sakura Kids)minorEarly childhood education partnership for teaching green living habits. School participates in UCO collection program and environmental education activities.
- Golden Gate Restaurant Group (GGG)flagshipStrategic partnership for UCO collection from restaurant network. Includes survey activities and process verification to ensure compliance with environmental standards.
- Five StarcoreSustainable partnership for building circular economy model. Collaborative UCO collection supporting environmental sustainability goals.
- AEON MALL Binh TanminorGreen Sunday event series partnership promoting sustainable lifestyle and UCO collection awareness at shopping mall location.
- VinhomesflagshipMajor partnership for UCO collection across Vinhomes residential complexes including Ocean Park 1, 2, 3, and Vinschool. Includes survey activities, collection point setup, and community awareness programs.
- ReFeedcoreStrategic technology partnership for Flow Metric and AI systems used in automated UCO collection machines and monitoring platforms. ReFeed provides core technology while Eco Oil handles Vietnam market deployment and operations.
- P4G (Partnering for Green Growth and the Global Goals 2030)flagshipInternational partnership providing strategic and technical support for scaling sustainable UCO collection across Vietnam. P4G supports community training programs and circular economy framework development.
- AOP (Alliance for Organic and Plastic Waste Reduction)flagshipInternational partner supporting circular economy initiatives and providing technical expertise for sustainable waste management programs in Vietnam.
- Phu Dien Women's UnioncoreCommunity partnership for implementing UCO collection model with training programs for local residents on safe collection and storage practices.
- Giao Quang Women's Union (Hanoi)coreCommunity engagement partnership for UCO collection model expansion in Hanoi district, empowering women as green ambassadors.
- Thanh Mien Women's Union (Hai Phong)coreCommunity partnership for first UCO collection training program in Hai Phong, supporting grassroots environmental awareness.
- Gia Phong Women's Union (Ninh Binh)coreCommunity training partnership for UCO collection model in rural district, supporting circular economy development in Northern Vietnam.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Eco Oil competitors and assessment
Company assessmentBroad incumbents
- Darling Ingredients: Global leader in rendering and UCO collection, converting animal fats and used cooking oil into feedstocks for renewable diesel and SAF. Highly comparable business model to Eco Oil's UCO aggregation and resale-to-refiners model, but operating at massive global scale across North America, Europe, and increasingly Asia.
- Neste: Global leader in renewable diesel and SAF production, including UCO-to-renewable fuels conversion. Comparable as the downstream buyer of Eco Oil's collected UCO and represents the scale and end-market that Eco Oil's volumes ultimately feed into.
- Cargill: Global agribusiness with renewable fuels and oils businesses that source and trade UCO globally. Comparable to Eco Oil as a downstream participant in the UCO/biofuels value chain with much broader scale and geographic reach.
Direct peers
- SARIA: European market leader in UCO and food waste collection, operating integrated collection networks that supply biofuel producers. Directly comparable to Eco Oil in service line (UCO aggregation), customer base (restaurants, food manufacturers, retailers), and end-market (renewable diesel/SAF feedstock).
- Olleco: UK-based specialist UCO collection company serving restaurants, hotels, and food manufacturers, with strong focus on traceability and sustainability reporting. Closest pure-play peer to Eco Oil given its emphasis on certified collection, transparent reporting, and food-service customer base.
- Baker Commodities: US rendering and UCO collection company serving restaurants and food processors, with rendered fats and oils sold to biofuel and oleochemical markets. Comparable to Eco Oil's collection-to-refiner value chain, though operating in a mature US market rather than an emerging one.
- Eco-Energy: US-based biofuel feedstock supply chain company that aggregates UCO and tallow for renewable fuel producers. Directly comparable aggregator business model to Eco Oil, with similar customer profile (food service generators) and downstream buyer profile (renewable diesel/SAF refiners).
Regional players
- Musim Mas: Indonesia-based integrated palm oil and renewable fuels group that has expanded into UCO collection in Southeast Asia. Relevant regional comparable given shared Southeast Asian geography and overlapping end-market of biofuel feedstock supply.
- Apical Group: Asia-focused palm oil processor with growing renewable energy and biofuel feedstock operations. Comparable as a regional Southeast Asian player moving into UCO/biofuel feedstock aggregation from an oils-processing base.
Emerging players
- ReFeed: Korean food-waste valorization tech company providing Eco Oil's Flow Metric and AI platform. Comparable as a technology enabler/partner in the food-waste-to-biofuel space and a potential competitive threat if it deploys its own collection operations in Vietnam.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks1 record
Key highlights1 record
Customer concentration
Eco Oil social profiles
Digital presenceEco Oil financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eco Oil leadership team
Management profileNumber of profiles
Eco Oil funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eco Oil M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Eco Oil
What does Eco Oil do?
Eco Oil collects used cooking oil (UCO) from households, restaurants, hotels, food manufacturers, and industrial kitchens across Vietnam, using automated collection machines and door-to-door mobile collection. Collected UCO is exported and recycled to international standards into biofuels such as biodiesel and Sustainable Aviation Fuel (SAF), with transparent annual ESG reporting provided to enterprise partners.
Is Eco Oil a public or private company?
Eco Oil is a private company. It is classified as venture growth investor backed and is currently operating.
When was Eco Oil founded?
Eco Oil was founded in 2022. It employs 11 to 50 people.
Where is Eco Oil based?
Eco Oil is headquartered in Mapo, South Korea, in the Asia region.
How does Eco Oil make money?
Three revenue lines are on record. UCO Collection Services are the primary driver. The others are collection Equipment Sales and ESG Reporting Services.
Who are Eco Oil's main competitors?
Broad incumbents on record are Darling Ingredients, Neste and Cargill. Direct peers are SARIA, Olleco, Baker Commodities and Eco-Energy. Regional players are Musim Mas and Apical Group. ReFeed is listed as an emerging player.
Does Eco Oil have an API?
No public API is recorded for Eco Oil.
What industry is Eco Oil in?
Eco Oil's product category is Used Cooking Oil Collection and Biofuel Recycling. Its primary akta.pro industry code is BPALAFAI, Used Oil & Oily Waste Management (Collection, Re-refining, Disposal), with a secondary code of BPALAEAA, Source-Separated Organics (SSO) Collection & Hauling (Food/Yard). Its NAICS code is 311225 and its SIC code is 2070.