Noovoleum, a company involved in recycling used cooking oil (UCO), has obtained US$3 million in funding to enhance its operations.

The investment round was led by Rigel Capital, a firm with a focus on environmental, social, and governance (ESG) initiatives.

The funding will be used to develop Noovoleum’s UCOllect Solution, which employs technology and AI to improve UCO recycling processes.

The initiative also includes community-based incentives aimed at increasing participation in sustainable biofuel practices.