EcoCeres
EcoCeres is a Hong Kong-based renewable fuels producer manufacturing Sustainable Aviation Fuel, HVO, and bio-naphtha from 100% waste-based feedstocks, serving major airlines and energy companies with one of the world's largest waste-to-fuel platforms at ~770,000 tons of planned annual capacity.
- Company typePrivate
- Founded2008
- HeadquartersHong Kong, Hong Kong SAR China
- Headcount—
- GTM typeB2B
- OfferingHardware or Manufacturing
What EcoCeres does
EcoCeres is a Hong Kong-headquartered renewable fuels producer founded in 2008 as a Towngas affiliate and rebranded under its current name in 2021. The company manufactures Sustainable Aviation Fuel (SAF), Hydrotreated Vegetable Oil (HVO), and bio-naphtha entirely from waste-based feedstocks, principally used cooking oil and animal fats, and operates one of the largest waste-to-fuel platforms globally with ~770,000 tons of planned annual capacity (350,000 tons at its operating China refinery and 420,000 tons at a Malaysia facility scheduled for H2 2026). EcoCeres is positioned as the world's second-largest SAF producer with approximately 20% global market share. The technology stack is proprietary and full-stack, combining waste-to-fuel conversion processes with a feedstock traceability system ("easy tracer") that documents chain-of-custody for renewable fuel certification, and a modular plant architecture intended to lower replication capex per ton.
The business model centers on long-term offtake agreements with major airlines and energy companies — including British Airways, Air New Zealand, Cathay Pacific, and Viva Energy — supplemented by an emerging data-center backup-power customer base (Chindata, Bridge Data Centres). Feedstock is sourced through a controlled collection network spanning more than 100,000 restaurants in Hong Kong, providing both cost and certification advantages. The company has raised more than $800 million cumulatively across a $100 million Series A from Kerogen Capital (2021) and an approximately $700 million round from Bain Capital (2022), funding the Malaysia buildout and geographic expansion into Switzerland, Singapore, and Australia. Leadership is led by CEO Matti Lievonen, formerly of Neste, lending deep renewable fuels operating experience. The headcount of 293 and HR Asia Best Employer recognition indicate active organizational scaling to support the capacity and geographic expansion program.
EcoCeres firmographics
Firmographics- Name
- EcoCeres
- Legal name
- EcoCeres, Inc.
- Website
- https://ecoceres.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Short description
- EcoCeres is a Hong Kong-based renewable fuels producer manufacturing Sustainable Aviation Fuel, HVO, and bio-naphtha from 100% waste-based feedstocks, serving major airlines and energy companies with one of the world's largest waste-to-fuel platforms at ~770,000 tons of planned annual capacity.
- Ownership category
- akta.pro rank
EcoCeres industry classification
Industry- Product category
- Renewable Fuels
- NAICS
- Petrochemical Manufacturing (32511), Basic Chemical Manufacturing (3251)
- SIC
- Fats & Oils (2070), Industrial Organic Chemicals (2860)
- akta.pro primary industry
- Biofuel Upgrading, Hydrotreating & Refining (Co-processing, Isomerization) (EUAAAHAG)
- akta.pro secondary industries
- Bio-based Platform & Commodity Chemicals (e.g., bio-ethylene, bio-propylene, bio-BTX, bio-methanol) (EUAAAIAA), Renewable Diesel (HVO/HEFA) Production (EUAAAHAD), Biofuel Distribution & Fuel Marketing (Wholesale/Retail) (EUAAAHAI)
Keywords
Where EcoCeres is headquartered
LocationHeadquarters
- HQ city
- Hong Kong
- HQ country
- Hong Kong SAR China
- HQ region
- Asia
Offices5 records
Markets served
EcoCeres business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales
Revenue model
- Bio-naphtha: Renewable naphtha produced from waste-based feedstocks for petrochemical applications.
- Sustainable Aviation Fuel (SAF): Revenue from producing and selling SAF to airlines globally. EcoCeres supplies major carriers including British Airways, Air New Zealand, and Cathay Pacific under long-term offtake agreements. Products reduce GHG emissions by up to 90% compared to conventional jet fuel.
- Hydrotreated Vegetable Oil (HVO): Renewable diesel/HVO product line for road transportation and industrial applications.
- Low-Carbon Backup Power Solutions: HVO-based backup power solutions for data centers through partnerships with Chindata and Bridge Data Centres.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
EcoCeres product offering
Product offeringCore offering
EcoCeres manufactures and sells renewable fuels and green molecules — specifically Sustainable Aviation Fuel (SAF), Hydrotreated Vegetable Oil (HVO) renewable diesel, and Bio-naphtha — produced exclusively from 100% waste-based feedstocks such as used cooking oil, animal fats, and agricultural waste. The company operates production refineries (China: 350,000 tons/year; Malaysia: 420,000 tons/year under construction) using proprietary full-stack technology and serves hard-to-abate sectors including aviation, road transportation, and data center backup power.
Product overview
EcoCeres offers a portfolio of renewable fuels and green molecules produced exclusively from 100% waste-based feedstocks. The product lineup includes Sustainable Aviation Fuel (SAF), Hydrotreated Vegetable Oil (HVO), and Bio-naphtha. SAF serves hard-to-abate aviation sectors to reduce GHG emissions; HVO serves road transportation; and Bio-naphtha feeds the petrochemical industry. The company operates a modular plant model, with existing refineries in China (350,000 tons/year combined HVO and SAF capacity) and Malaysia (a second refinery under construction with 420,000 tons/year capacity). EcoCeres also leverages proprietary full-stack technology covering catalysts, production processes, feedstock processing, and end products.
Differentiator
Problem solved
Functional benefit
Products and services
- Sustainable Aviation Fuel (SAF)
Quantifiable outcome
- Up to 90% reduction in lifecycle GHG emissions compared to conventional aviation fuel
- +3 more outcomes
Companies that use EcoCeres
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles4 records
EcoCeres technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
EcoCeres partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- ChindatacoreCollaboration on low-carbon backup power solutions for data centers. Combines EcoCeres' HVO expertise with Chindata's data center operations to provide sustainable backup power infrastructure.
- Viva EnergycoreJoint forces to accelerate SAF adoption in Australia. Viva Energy serves as distribution and market development partner for EcoCeres' SAF products in the Australian market.
- British AirwayscoreExtended long-term sustainable aviation fuel supply agreement to support lower-carbon aviation. This is a flagship offtake partnership demonstrating market confidence in EcoCeres' technology and delivery capabilities.
- Bridge Data CentresminorCompleted Asia-Pacific's first HVO-powered data center backup fuel pilot project, demonstrating the viability of renewable backup power solutions for data center infrastructure.
- Air New ZealandcoreLong-term SAF offtake agreement reflecting market confidence in EcoCeres' technology and delivery capabilities.
- Cathay PacificcoreLong-term SAF offtake agreement through Hong Kong SAF ecosystem partnership involving HSBC for carbon offset benefits.
- HSBC Hong KongminorCollaboration with EcoCeres and Cathay Pacific to create Hong Kong SAF ecosystem, enabling enterprises and airlines to share SAF costs while generating carbon offset benefits.
Scale indicators8 records
Recent moves6 records
Expansion highlights8 records
EcoCeres competitors and assessment
Company assessmentDirect peers
- Neste: World's largest producer of renewable diesel (HVO) and SAF from waste and residue feedstocks. EcoCeres' CEO Matti Lievonen previously led Neste's refining business, and the two compete head-to-head in global SAF supply, making Neste the closest direct comparable.
- World Energy: US-based SAF pioneer operating one of the first commercial SAF refineries (Paramount, California). Competes with EcoCeres in supplying waste-based SAF to airlines under long-term offtake agreements.
- SkyNRG: Dutch SAF developer and supplier focused on waste-based sustainable aviation fuel. Competes directly with EcoCeres in the European SAF market and on feedstock supply chain development.
- Gevo: US renewable fuels and chemicals company developing SAF and renewable hydrocarbons from waste and low-carbon feedstocks. Competes with EcoCeres in the next-generation SAF category and on offtake with major airlines.
- Diamond Green Diesel: Joint venture between Valero and Darling Ingredients operating major North American renewable diesel (HVO) plants. A direct competitor to EcoCeres' HVO business with similar waste-feedstock strategy.
Broad incumbents
- TotalEnergies: Global integrated oil major with a growing renewable fuels and SAF portfolio. Competes with EcoCeres on SAF supply to airlines and is investing in bio-refining capacity, but as part of a much wider energy portfolio.
- Shell: Integrated energy company with significant renewable fuels production and SAF offtake programs. Overlaps with EcoCeres in SAF supply to airlines but operates across a vastly broader hydrocarbon portfolio.
Emerging players
- LanzaTech: Carbon capture-to-fuels company producing SAF and ethanol from industrial gas fermentation using proprietary microbial technology. A next-generation competitor to EcoCeres in the SAF space with a different (gas fermentation) pathway.
- HIF Global: Developer of e-fuels (e-methanol, e-SAF) produced from green hydrogen and captured CO2. Competes for the same airline decarbonization budget but uses a synthetic rather than bio-based pathway, positioning it as an adjacent SAF competitor to EcoCeres.
- Velocys: UK-based company developing Fischer-Tropsch technology for SAF and renewable diesel from waste feedstocks and biomass. A technology-focused competitor targeting similar end-markets as EcoCeres.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks6 records
Key highlights7 records
Customer concentration
EcoCeres social profiles
Digital presenceEcoCeres financial estimates
Financial estimateRevenue estimate
Valuation estimate
EcoCeres leadership team
Management profileNumber of profiles
Profiles2 records
EcoCeres funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
EcoCeres 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 EcoCeres
What does EcoCeres do?
EcoCeres manufactures and sells renewable fuels and green molecules — specifically Sustainable Aviation Fuel (SAF), Hydrotreated Vegetable Oil (HVO) renewable diesel, and Bio-naphtha — produced exclusively from 100% waste-based feedstocks such as used cooking oil, animal fats, and agricultural waste. The company operates production refineries (China: 350,000 tons/year; Malaysia: 420,000 tons/year under construction) using proprietary full-stack technology and serves hard-to-abate sectors including aviation, road transportation, and data center backup power.
Is EcoCeres a public or private company?
EcoCeres is a private company. It is classified as venture growth investor backed and is currently operating.
When was EcoCeres founded?
EcoCeres was founded in 2008.
Where is EcoCeres based?
EcoCeres is headquartered in Hong Kong, Hong Kong SAR China, in the Asia region.
How does EcoCeres make money?
Four revenue lines are on record. Bio-naphtha is the primary driver. The others are sustainable Aviation Fuel (SAF), hydrotreated Vegetable Oil (HVO) and low-Carbon Backup Power Solutions.
Who are EcoCeres's main competitors?
Direct peers on record are Neste, World Energy, SkyNRG, Gevo and Diamond Green Diesel. Broad incumbents are TotalEnergies and Shell. Emerging players are LanzaTech, HIF Global and Velocys.
Does EcoCeres have an API?
No public API is recorded for EcoCeres.
What industry is EcoCeres in?
EcoCeres's product category is Renewable Fuels. Its primary akta.pro industry code is EUAAAHAG, Biofuel Upgrading, Hydrotreating & Refining (Co-processing, Isomerization), with a secondary code of EUAAAIAA, Bio-based Platform & Commodity Chemicals (e.g., bio-ethylene, bio-propylene, bio-BTX, bio-methanol). Its NAICS code is 32511 and its SIC code is 2070.