How Approved Oil is helping New York City and neighboring areas to achieve revolutionary goals
From Brooklyn’s brownstones to Manhattan’s skyscrapers, Approved Oil (Approved) provides the residents and businesses of New York City with intelligent energy solutions that address cost, efficiency, and comfort. With a portfolio including Bioheat® fuel delivery, system upgrades, energy procurement, and energy audits for both residential and commercial customers, Approved offers a range of solutions to meet every customer demand.
Having operated across New York City since 1932, Approved has diversified over the years to supplement its oil heat delivery with key services to benefit its customers. Today, the business provides complete care packages for customers’ heating equipment, including preventive maintenance, emergency services, and installation of new equipment.
“Approved has established a legacy of reliability and innovation spanning 91 years by building a foundation of trust within the communities we serve,” begins Vincent Theurer, Approved’s President and CEO, who joins us to discuss the company’s evolution and the impressive growth it has recently experienced. “In today’s world, where energy demands and environmental concerns are growing, it is crucial to have a reliable partner that truly understands the industry’s complexities and leverages expertise to deliver effective solutions.
“We strive to take the complexity out of energy management, allowing customers to focus on what matters most to them; whether it’s keeping the home comfortable, fueling a business, or driving sustainable change, we offer a seamless energy journey with choices that contribute to a cleaner, greener future. Our range of products and services includes 24/7 support for residential and commercial clientele’s Bioheat® fuels, domestic hot water equipment, design and build services, compliance correction, energy procurement, advisement, and wholesale services.”
Turning to the company’s diversification, Vincent explains: “Approved ventured into the wholesale side of the business in 2014, with the primary goal of meeting in-house retail demands. Our solid reputation within the industry, coupled with strong relationships with numerous heating oil dealers not only solidified our wholesale position, but also confirmed Approved as a prominent supplier in New York. 
“Since its inception, the wholesale division has experienced remarkable growth, expanding its footprint across three states, and now operating from six terminals. On average, the sales distribution between wholesale and retail has leaned towards wholesale, with around 65 percent of our total sales coming from thatmarket, while retail accounts for the remaining 35 percent.”
The energy trilemma
It’s no secret that the energy industry has seen momentous change in recent years as the globe addresses the energy trilemma; the need to balance reliability, affordability, and sustainability. “With the ever-evolving regulatory landscape facing the industry, especially regarding sustainable energy and compliance, our ability to adapt to new demands has been key to our success,” Vincent reflects. “The residential and commercial heating oil and biofuel markets have been shrinking in the tristate area for some time now, and while they are still vital parts of the community, adding a suite of energy, mechanical, and compliance services to our portfolio has been crucial to ensuring long-term success.
“Our focus has shifted from enquiring into the energy procurement needs of a client to establishing if they are aware and knowledgeable about energy transition, with a plan in motion that complies with mounting legislation and deadlines. Providing rebates, incentives, and financing options has become a much larger part of our energy, compliance, and mechanical departments. We’ve also partnered with several outfits at the forefront of green energy, reducing carbon emissions in the tristate area to strengthen our ability to service clients’ needs.”
Exceptional service
As New York City’s Mayor, Eric Adams recently unveiled, New York City is striving to become the first East Coast city to transition its heavy-duty fleet of over 12,500 vehicles from fossil to renewable fuel. “With a rise of news stories requiring publicity, we’ve revamped and increased our marketing efforts,” Vincent elaborates. “We have a responsibility to educate customers on what they are doing versus what they could be doing to play their part in reducing emissions, as well as informing them of the practical sustainable liquid energy options now available.
“Renewable diesel is increasingly being deployed in city agencies as they work to reduce emissions, and New York City is no exception. With Approved now on the front line of sustainable energy efforts, we’ve recently been awarded the contract for New York City’s transition to renewable diesel, which is a major accomplishment for us. Transitioning from conventional to renewable diesel will contribute to the city’s green initiatives to reduce emissions and improve air quality.
“Following a full rollout of 16 million gallons of renewable diesel, which is estimated to be achieved at the end of 2024, the city will eliminate around 128 billion grams of carbon dioxide pollution each year. Beyond New York City, our goal is to introduce renewable diesel to neighboring cities, states, and municipalities that share similar carbon reduction objectives.”
Aside from sustainability demands, Vincent is keen to tell us about other evolutions in the customer base. “Customers are key; they always have been and always will be,” he states. “Through continued education, we maintain a high level of customer service, conveying emotional intelligence to truly understand an issue from the customer’s perspective.
“Customers are also more price conscious than we’ve previously seen, so we’re working with multiple fuel buyers’ groups to actively pursue the best prices to ensure our customers see cost savings. We also provide a range of budgeting and financing options, offering residential and commercial clients the opportunity to purchase price contracts or secure low fixed rates. This goes hand-in-hand with our own financing being managed at an optimal level – every decision must be the best for the client, as well as Approved.”
From our conversation with Vincent, it’s clear to see Approved’s sizeable contributions to reducing New York City’s carbon emissions in the face of global energy transition. “2024 is off to a good start and we remain committed to delivering exceptional service and energy-efficient solutions to our customers,” Vincent concludes. “We’re excited about the prospect of ongoing expansion, both in terms of business development and our environmental impact as we extend our renewables reach not only to other cities and municipalities, but also to the private sector. We believe that Approved will play a significant role in supporting the global energy transition by providing clean energy solutions across the tristate area.”