FinCo Fuel Group, active in the downstream energy market with a broad portfolio of fuel products, has expanded its network with the acquisition of a majority stake in GoodNRG, holding company of renewable fuels pioneer GoodFuels, the companies have announced today.
The acquisition will enable GoodFuels to tap into the complimentary sourcing, supply management and logistics expertise of the wider FinCo Fuel Group. Both parties expect to contribute to a further reduction of CO2 and to accelerate the energy transition with more impact.
Speaking on the announcement, Pieter Peeters, CEO, FinCo Fuel Nederland, said: “With this acquisition, FinCo Fuel Group is sending a clear signal about our ambition and commitment towards supporting the sustainable mobility transition.
“GoodFuels has led the sustainable fuel market for shipping and is an important pioneer across other transportation sectors. Their approach is based on working with customers in a refreshing way for the fuels market. With our strengths and deep network we can further support the GoodFuels brand with its continued evolution.”
Dirk Kronemeijer, CEO, GoodFuels, added: “Today is an exciting and positive next step in GoodFuels’ journey to advance the use of sustainable advanced biofuels across heavy duty transportation. We are extremely proud of the progress we have made to date, working closely with our partners and customers.
“In FinCo Fuel Group we find a partner who will support us in maintaining and growing our position in this vital market and who understands and respects our impact driven sustainable DNA. The need for positive, progressive and proven sustainability solutions has never been greater across these sectors, which must now strive for full decarbonisation. Together with FinCo, we can fulfil our joint mission and realise a cleaner, greener transportation sector.”
About FinCo Fuel Group
FinCo Fuel Group is involved in the downstream fuel market and offers a portfolio of fuels across Northwest Europe. FinCo covers the whole value chain from refinery gate until end-user with secured logistics under ownership and management. Innovation and strong customer orientation are the main drivers to boost the transition to a lower carbon future. FinCo is fully committed to increased use of cleaner fuels and is dedicated to play an important role in reducing CO2 through a portfolio of alternative fuels. The Group has offices in the Netherlands, Germany and Switzerland.
GoodFuels is a sustainable fuels pioneer and energy transition partner for shipping and heavy transportation. All advanced and sustainable biofuels from GoodFuels are immediately applicable as substitutes for fossil fuels without any technical engine modifications (drop-in), reduce CO2 by up to 90% (Well-to-Propeller) and comply to the strictest sustainability criteria. Next to being a biofuels pioneer GoodNRG introduces innovative sustainable products, services and business models on a constant basis.