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"The most exciting part of our solution is the fact that the StayGreen Marketplace is a completely innovative approach to an industry that is ripe for automation and standardization of normal business practices. Our platform not only fosters new relationships between buyers and sellers of used lubricants and cooking oils, it also allows parties on both sides of the market to track and manage needs across their enterprise," said Brian Davis, co-founder of StayGreen Oil.

The StayGreen marketplace is free for Buyers and Sellers to register and interact through public auctions or via private requests for proposal. Currently deployed in the United States, the company has plans for expanding the platform to international markets. Michael Griffith, co-founder says, "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."

Used Oil Facts

Oil keeps our cars, factories, and machines running smoothly. But, once oil is used, it must be discarded properly to keep it from contaminating the environment. Oil does not wear out... it just gets dirty, so recycling it saves a valuable resource. Recycling used oil is the preferred way of handling used oil to protect the environment and conserve natural resources.

Used oil can be rerefined into lubricants, processed into fuel oils, and used as raw materials for the refining and petrochemical industries. Used oil filters contain reusable scrap metal, which steel producers can use as scrap feed.

To recycle used oil, processors and refiners remove water, insolubles, dirt, heavy metals, nitrogen, chlorine, and oxygenated compounds from oil drained from automobiles or other machines. The resulting product, called “rerefined” oil, must meet the same stringent refining, compounding, and performance standards as virgin oil for use in automotive, heavy-duty diesel, and other internal combustion engines, and hydraulic fluids and gear oils. Extensive laboratory testing and field studies conclude that rerefined oil is equivalent to virgin oil, it passes all prescribed tests and, in some situations, even outperforms virgin oil.