Terrapure Environmental received an Environmental Leader Award for Product of the Year for its circular-economy approach to managing used lubricating oil.
Terrapure collects used oil from various industries and, through a patented re-refining process, waste oil is recycled into premium-quality base oils and lubricants at its facility in North Vancouver, B.C.
The company says that each year it produces 32 million litres of re-refined base oils and lubricants that are virtually indistinguishable from those made from virgin crude oil and are used in place of or in conjunction with virgin base oils.
According to Terrapure, this not only avoids the need for over 10 million barrels of virgin crude oil, but also produces base oil with a significantly lower greenhouse gas intensity than that of traditional crude refining.
The Environmental Leader Awards are organized by Environmental Leader, a daily trade publication covering energy, environment and sustainability. The awards recognize excellence in products, services and projects that add significant value to energy, environmental and sustainability management efforts, according to Environmental Leader. Winners are awarded based on scores from a panel of distinguished judges with extensive experience in environmental management.
This is the second consecutive year Terrapure has received an Environmental Leader Award. In 2017, the company was recognized for its application of centrifuge technology to manage waste and recover valuable resources for the petrochemical, refining and mining industries.
The award was publicly announced on May 16, 2018, at the Environmental Leader & Energy Manager Conference in Denver, CO.