Approved Oil Co

What Approved Oil Co does

Approved Oil Co is a privately held, multi-generational family-owned energy services company founded in 1932 and headquartered at 6717 4th Avenue in Brooklyn, NY. It is described as the largest family-owned Bioheat fuel company in New York City. The company delivers Bioheat fuel (a renewable heating oil blended with biodiesel, available in B5/B10/B20 grades), conventional heating oil, and renewable diesel to residential, commercial, and governmental customers across the five NYC boroughs, Nassau, and lower Westchester. It also operates a wholesale distribution arm through Soundview Energy, Inc., which moves Ultra Low Sulfur heating oil, No. 4 heating oil, ULSD, and Biodiesel through four deep-water terminals leased from Buckeye Partners (The Bronx, Newark NJ, Pennsauken NJ, Baltimore MD).

Beyond fuel delivery, Approved Oil operates an integrated services stack: one of NYC's largest boiler installation operations, a 36-trailer mobile boiler rental business (acquired from EASCO Boiler in September 2022), licensed plumbing and fire protection (NYC Master Plumber License #1020, Fire Suppression License #249B, Backflow Tester #2752), water and sewer main services, fleet fueling, and NYC Local Law compliance (LL97, LL152, LL84, LL87). Through the Approved Energy sub-brand it also retails natural gas and electricity. The company has grown roughly five-fold over the past decade, runs an 84-vehicle fleet with 150+ employees, and in December 2023 secured a $91,000,000 exclusive multi-year renewable diesel contract with NYC DCAS to supply over 12,500 heavy-duty municipal vehicles.

Approved Oil's go-to-market is hybrid: direct-to-consumer phone and online ordering with a self-serve customer portal (myaccount.approvedoil.com) for residential and SMB accounts; a dedicated enterprise sales team (Sales Department Manager, Director of Energy Programs, VP of Strategic Acquisitions & Sales Growth) targeting commercial property owners and building managers in NYC; and a wholesale division plus channel partnerships (HEAT USA, NYPIRG Fuel Buyers Group). Revenue is generated through consumption-based fuel delivery (seasonal, peaking Oct-Mar), recurring annual service contracts (Basic and Premium Comfort Plans), one-time equipment installation, transaction-based wholesale terminal sales, and professional services. Pricing includes fixed/capped price protection plans, monthly budget plans, HEAP assistance for low-income households, and group-discounted rates 15-20 cents per gallon below average through buying groups.

Name

Approved Oil Co

Legal name

Approved Oil

Website

https://approvedoil.com

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

51–100 employees

Short description

Approved Oil Co is a Brooklyn-based, family-owned energy services company delivering Bioheat fuel, heating oil, and renewable diesel to residential and commercial customers across the New York City metropolitan area, with integrated boiler, plumbing, mobile boiler, and wholesale fuel operations.

Ownership category

akta.pro rank

Product category

Heating Fuel Distribution and Energy Services

NAICS

Steam and Air-Conditioning Supply (221330)

SIC

Gas & Other Services Combined (4932)

akta.pro industry

PRIMARYEUALAIAD

Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Downstream Fuels Marketing & Retail (Service Stations, Branded Fuels)

Keywords

• Heating oil delivery
• Bioheat fuel supply
• Commercial energy services
• Boiler installation maintenance
• Renewable diesel distribution

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Bioheat Fuel and Heating Oil Delivery: Primary revenue stream from delivering Bioheat fuel and heating oil to residential and commercial customers. Offers automatic delivery, will-call delivery, and various pricing options including fixed, capped, and variable pricing. Revenue is consumption-based and seasonal, peaking October-March.
2. Boiler and Equipment Installation: Installation of Bioheat fuel, gas, or dual fuel heating equipment including boilers, burners, and water heaters. One-time revenue per installation project with financing options available.
3. Service Contracts (Basic and Premium Comfort Plans): Annual service contracts covering preventive maintenance, tune-ups, and coverage for major system components. Includes Basic Comfort Plan and Premium Comfort Plan with automatic renewal.
4. Wholesale Fuel Distribution: Wholesale division selling Ultra Low Sulfur heating oil, No. 4 heating oil, Ultra Low Sulfur Diesel (on-road and off-road), and Biodiesel through deep water terminals in The Bronx, Newark (NJ), Pennsauken (NJ), and Baltimore (MD).
5. Fleet Fueling Services: On-demand Bioheat fuel and renewable diesel delivery services to commercial fleets, providing 24/7 fuel delivery right to fleet locations.
6. Plumbing and Fire Protection Services: Licensed plumbing services, fire sprinkler installations and repairs, backflow prevention, gas line services, and related compliance services for commercial and residential properties.
7. Water and Sewer Main Services: Complete underground water and sewer service work including emergency response, camera inspections, leak detection, lead service replacements, and new tap installations.

Pricing tiers

Go-to-market motion5 records

Distribution channels5 records

Marketing channels9 records

Core offering

Approved Oil Co delivers Bioheat heating fuel, heating oil, natural gas, and electricity to residential and commercial customers across the NYC metro area, complemented by boiler installation and maintenance, plumbing and fire protection services, mobile boiler rentals, fleet fueling, water and sewer main services, and wholesale fuel distribution through its Soundview Energy subsidiary.

Product overview

Approved Oil Co operates as a diversified energy services company offering a comprehensive portfolio of heating fuel products, equipment services, and energy solutions. The core offering is Bioheat® Fuel, a renewable heating fuel blend available in various biodiesel percentages. The company provides services across multiple segments: Residential Services for homeowners, Commercial Services for large properties, Wholesale Services for bulk fuel distribution, and Energy Procurement for natural gas and electricity. Supporting services include Boiler Services (installation, maintenance, emergency repair), Mobile Boiler Rentals (temporary heating solutions), Fleet Fueling (on-demand fuel delivery for commercial fleets), Plumbing & Fire Protection Services, Water and Sewer Main Services, and 24/7 Emergency Service. Add-on programs include Service Contracts (Basic and Premium Comfort Plans), Price Protection Plans (fixed and capped pricing), and Budget Plans for monthly payment options. The company also offers Local Law Compliance Services to help NYC property owners meet regulatory requirements.

Differentiator

Problem solved

Functional benefit

Brands

• Soundview Energy: Wholesale division of Approved Oil operating through Soundview Energy, Inc., handling Ultra Low Sulfur heating oil, No. 4 heating oil, Ultra Low Sulfur Diesel, and Biodiesel products.
• Approved Oil Mobile Boilers
• Approved Energy

Products and services

• Bioheat Fuel
• Residential Services
• Commercial Services
• Wholesale Services
• Plumbing and Fire Protection Services
• Boiler Services
• Mobile Boiler Rentals
• Fleet Fueling
• Water and Sewer Main Services
• Energy Procurement
• Renewable Diesel Supply
• Local Law Compliance Services

Quantifiable outcome

• 300 million lbs annual CO2 reduction from NYC fleet renewable diesel contract
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core, minor and flagship.

• Soundview Energy, Inc.coreStrategic or Co-development Partner · 1 January 1991Approved Oil's wholesale division operates through Soundview Energy, Inc., founded in 1991 with 23+ years of successful involvement in the NYC market. Soundview has been in the global energy business since 1991 and has traded oil in markets worldwide. This partnership provides the creative marketing model and global energy expertise that enables Approved to remain a top industry competitor while managing risk.
• Buckeye Partners L.P.coreOthersApproved Oil leases four deep water terminals strategically located in The Bronx, Newark (NJ), Pennsauken (NJ), and Baltimore (MD) from Buckeye Partners L.P. These terminals are essential for the wholesale fuel distribution operations.
• Con EdisonminorGTM or Marketing PartnerParticipating contractor in Con Edison rebate programs, enabling Approved to obtain over $850,000 in rebates for customers in 2022 alone. This partnership helps customers transition to more efficient heating equipment.
• National GridminorGTM or Marketing PartnerParticipating contractor in National Grid rebate programs, enabling Approved to obtain over $850,000 in rebates for customers in 2022 alone. Supports customer heating equipment upgrade incentives.
• Willdan GroupminorGTM or Marketing PartnerEnergy equipment rebate partner that works with Approved to make energy transition projects more feasible for NYC building owners by reducing or eliminating upfront costs.
• HEAT USAminorChannel Partner/ Reseller/ DistributorHEAT USA is the largest heating oil buying program in the US, serving over 50,000 members in 12 states with 120+ participating suppliers. Approved participates in this buying group, offering members free or discounted service contracts and pricing based on fixed profit margins above wholesale, historically saving members 15-20 cents per gallon.
• NYPIRG (New York Public Interest Research Group) Fuel Buyers GroupminorChannel Partner/ Reseller/ DistributorNYPIRG's Fuel Buyers Group negotiates with home heating providers using combined purchasing power of its members statewide. Approved participates to offer deeply discounted rates to NYPIRG members.
• NEFI (National Energy & Fuels Institute)minorOthersApproved Oil is a proud member of NEFI and serves on several committees. Celebrates ASTM International revisions to heating oil specifications inclusive of Biodiesel Fuel blends up to 50%.
• Business Council of WestchesterminorOthersApproved Oil joined the Business Council of Westchester, the county's largest business membership organization representing 1,000+ members including corporations, hospitals, universities, and entrepreneurs.
• NYC Department of Citywide Administrative Services (DCAS)flagshipOthersDCAS collaboration with Approved Oil providing renewable diesel to over 12,500 heavy duty NYC vehicles under a $91,000,000 multi-year contract. This is the company's largest government contract and a flagship relationship.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• AmeriGas Partners: Largest U.S. retail propane distributor serving residential and commercial heating customers nationwide; broadly comparable to Approved Oil in door-to-door fuel-delivery business model and customer type, but operating in propane rather than heating oil/Bioheat across a much wider geography.
• Suburban Propane Partners: National retail propane distributor serving residential and commercial heating customers; analogous to Approved Oil in recurring fuel-delivery operations, automatic-fill technology, and multi-state service contracts, though focused on propane instead of heating oil.
• World Energy: Major North American low-carbon fuel distributor and renewable diesel supplier; directly intersects with Approved Oil's fleet fueling and wholesale fuel business as a potential supply/competitor in biofuel logistics to municipal and commercial fleets.
• Neste: World's largest producer of renewable diesel from waste and residues; a broad incumbent and key upstream supplier in the renewable diesel category that Approved Oil distributes to the DCAS NYC fleet contract, anchoring the renewable diesel supply chain.

Others

• Clean Energy Fuels: U.S. leader in RNG and CNG fueling infrastructure for heavy-duty truck fleets; adjacent competitor to Approved Oil's DCAS renewable diesel fleet fueling business, representing an alternative decarbonization pathway that competes for the same municipal and commercial fleet customers.

Direct peers

• Aggreko: Global leader in temporary mobile power and boiler rentals; directly comparable to Approved Oil's mobile steam boiler rental fleet (post-EASCO acquisition) for emergency and planned heat and hot water supply to commercial, institutional, and government buildings.
• Petro Home Services: One of the largest residential heating oil and HVAC service companies in the Northeast US (operated by Star Group), directly competing with Approved Oil for home and commercial heating fuel customers across the NYC metro area and broader tri-state region on Bioheat/heating oil delivery and HVAC services.
• Trinity Power Equipment Rentals: North American mobile boiler and temporary power equipment rental specialist; directly comparable to Approved Oil's mobile boiler fleet for serving buildings during planned retrofits and emergency no-heat situations, particularly in the NYC metro market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ApprovedOilCo
• YouTubeyoutube.com/channel/UCLdSOjMCPnoeJL5u3r1PtRg/featured
• Facebookfacebook.com/ApprovedOilCo
• LinkedInlinkedin.com/company/2050948
• Instagraminstagram.com/approvedoilco

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Approved Oil Co