Darling Ingredients Inc. Announces Innovative, Real-Time Technology to Improve Used Cooking Oil Management and Recycling, and Reduce Theft

Rhea-AI Summary

Darling Ingredients (NYSE: DAR) has unveiled DarLinQ, an innovative technology using sonar and Bluetooth for real-time monitoring of used cooking oil (UCO) storage containers. The system enhances operational efficiency and security through continuous oil-level monitoring and automated equipment.

This patented technology addresses the significant challenge of UCO theft, which costs up to $75 million annually in the United States according to the National Renderers Association. DarLinQ provides real-time theft alerts and prevention features, already proven successful through pilot programs. The company is rolling out this technology across its network of over 200,000 restaurant and kitchen facilities in the U.S. through its DAR PRO Solutions brand.

Positive

• Introduction of innovative DarLinQ technology for improved UCO management
• Potential reduction in losses from $75M annual UCO theft in the US
• Large-scale implementation across 200,000+ facilities nationwide
• Successful pilot program demonstrating technology effectiveness

Negative

• None.

News Market Reaction

-1.55%

1 alert

-1.55% News Effect

On the day this news was published, DAR declined 1.55%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

IRVING, Texas, Nov. 13, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR), the world's leading company turning food waste into sustainable products and producer of renewable energy, today announced the development of DarLinQ^TM, the company's latest, industry-leading innovation that utilizes advanced sonar and Bluetooth technologies to provide continuous, accurate oil-level monitoring of used cooking oil (UCO) storage containers via custom, automated equipment to enhance operational efficiency and security. DarLinQ's advanced technology provides numerous safety, security and environmental benefits, including more efficient fleet operation and increased oil capture capabilities.

"Our patented technology is a game-changer in UCO collection and recycling, and showcases our ongoing commitment to driving industry advancements to deliver value to our customers," said Randall C. Stuewe, Chairman and Chief Executive Officer. "No other UCO collection company can provide this level of advanced monitoring, seamless data transmission and unparalleled accuracy — keeping customers running without interruption and setting a new standard in the industry."

Used cooking oil theft is a major challenge for restaurant owners and the rendering industry, with up to $75 million worth of used cooking oil stolen annually in the United States, according to the National Renderers Association. DarLinQ provides customers, like Raising Cane's, with a robust defense to this theft through real-time theft attempt alerts and exclusive, patented theft prevention features, which have already proven successful through the company's pilot program.

Darling Ingredients, which services more than 200,000 restaurant and kitchen facilities in the U.S. through its DAR PRO Solutions brand, is actively rolling out DarLinQ technology to improve its operations and benefit current and future customers nationwide. For more information about Darling Ingredients' reliable and innovative used-cooking oil collection, storage and recycling services, visit darlingii.com/DarLinQ.

About Darling Ingredients
A pioneer in circularity, Darling Ingredients Inc. (NYSE: DAR) takes material from the animal agriculture and food industries, and transforms them into valuable ingredients that nourish people, feed animals and crops, and fuel the world with renewable energy. The company operates over 260 facilities in more than 15 countries and processes about 15% of the world's animal agricultural by-products, produces about 30% of the world's collagen (both gelatin and hydrolyzed collagen), and is one of the largest producers of renewable energy. To learn more, visit darlingii.com. Follow us on LinkedIn.

Darling Ingredients Contacts
Investors: Suann Guthrie
Senior VP, Investor Relations, Sustainability & Communications
(469) 214-8202; suann.guthrie@darlingii.com

Media: Jillian Fleming
Director, Global Communications
(972) 541-7115; jillian.fleming@darlingii.com

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SOURCE Darling Ingredients Inc.

FAQ

What is Darling Ingredients' (DAR) new DarLinQ technology?

DarLinQ is a patented technology that uses sonar and Bluetooth to provide real-time monitoring of used cooking oil storage containers, offering theft prevention and operational efficiency improvements.

How much used cooking oil theft occurs annually in the US according to Darling Ingredients (DAR)?

According to the National Renderers Association, up to $75 million worth of used cooking oil is stolen annually in the United States.

How many facilities will benefit from Darling Ingredients' (DAR) DarLinQ technology?

DarLinQ technology will be rolled out to more than 200,000 restaurant and kitchen facilities serviced by Darling Ingredients' DAR PRO Solutions brand in the U.S.