Trafigura to acquire Greenergy
Singapore & London, 4 March 2024 - Trafigura Group Pte Ltd and Greenergy, a UK-based supplier of road fuels and a major biodiesel producer, today announce that Trafigura has agreed to acquire Greenergy’s European business from Brookfield Asset Management and its listed affiliate Brookfield Business Partners for an undisclosed sum. The acquisition is subject to customary closing conditions and regulatory approvals.
Initially founded in 1992 to supply diesel with lower emissions, Greenergy is today one of Europe’s largest suppliers of biofuels with manufacturing plants in the UK and the Netherlands and a leading distributor of road fuels in the UK.
The acquisition of Greenergy presents a unique opportunity for Trafigura to strengthen its fuel supply operations in Europe and to add the physical production and distribution of renewable fuels to its growing biofuels business. Post acquisition, the company will continue to be led by its current management team.
The combination of Trafigura’s and Greenergy’s commercial and market expertise will add value to the existing operations, and enable the company to explore opportunities for expansion into new markets and products.
In addition, Trafigura’s financial strength will provide a robust platform for growth, helping to drive Greenergy’s strategic initiatives and its decarbonisation plan.
Ben Luckock, Global Head of Oil at Trafigura, said: “As Europe transitions to a lower carbon future and the refining industry adapts to changing market dynamics, companies like Greenergy become increasingly important. This acquisition represents a major expansion of our existing biofuels and fuel supply capabilities, adding Greenergy’s production and distribution expertise and supporting customers’ transition to cleaner, more sustainable fuel options.”
Christian Flach, Chief Executive of Greenergy, said: “Trafigura brings additional understanding of global supply chains and energy markets and a track record of investing in renewables. This will further enhance our offer to customers through the energy transition and beyond.”
ENDS
For further information please contact:
Trafigura’s Press Office: +41 (0) 22 592 4528 or media@trafigura.com
Greenergy’s Press Office: +44 (0) 20 7404 7700 or press@greenergy.com
About Trafigura
Trafigura is a leading commodities group, owned by its employees and founded 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through H2Energy Europe and joint venture Nala Renewables.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and our Impala Terminals joint venture. The Group employs over 12,000 people and is active in 156 countries.
Visit: www.trafigura.com
About Greenergy
In business for over 30 years, Greenergy is an established supplier and distributor of transportation fuels. Supplying around a quarter of the UK’s road fuels, Greenergy is also a leading European manufacturer of biodiesel from wastes, operating plants in the UK and the Netherlands.
Internationally, Greenergy supplies over 14 billion litres of fuel annually to supermarkets, oil companies, fuel wholesalers and retail and commercial customers. It manages fuel supply chains from refinery gates to customer sites – importing, storing, blending and distributing fuel and managing stock levels for customers.
Greenergy also markets in Ireland through the Inver Energy and Amber Petroleum brands.
Visit: www.greenergy.com