Trafigura Group Pte Ltd, a global commodities trading company, has reached an agreement to acquire Greenergy’s European business from Brookfield Asset Management and its listed affiliate, Brookfield Business Partners. The deal, whose financial details remain undisclosed, is subject to customary closing conditions and regulatory approvals.
Established in 1992, Greenergy initially focused on supplying diesel with reduced emissions. Over the years, it has evolved into one of Europe’s largest suppliers of biofuels, boasting manufacturing plants in the UK and the Netherlands, along with a prominent position as a distributor of road fuels in the UK.
For Trafigura, this acquisition presents a strategic opportunity to bolster its fuel supply operations in Europe. It also signifies an expansion of its biofuels business by incorporating the physical production and distribution capabilities of renewable fuels from Greenergy. Post-acquisition, Greenergy will continue to be led by its existing management team.
Combining Trafigura’s extensive commercial expertise with Greenergy’s market knowledge is expected to enhance the value of both entities’ operations. Moreover, the union is poised to facilitate exploration into new markets and products.
Trafigura’s robust financial standing is anticipated to provide a stable platform for growth, supporting Greenergy’s strategic initiatives and its endeavors toward decarbonization.
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.”
About Trafigura
Trafigura, a prominent commodities group, was established 30 years ago and is owned by its employees. Serving as a linchpin in global supply chains, Trafigura facilitates the movement of essential resources to fuel and construct the world. Leveraging our extensive infrastructure, market knowledge, and global logistics network, we transport oil and petroleum products, metals and minerals, gas, and power from their sources to destinations worldwide. Our focus on fostering strong relationships enhances supply chains, making them more efficient, secure, and sustainable.
Furthermore, we are committed to investing in renewable energy projects and technologies to support the transition to a low-carbon economy. This commitment is exemplified through our involvement in initiatives like H2Energy Europe and our joint venture, Nala Renewables.
In addition to our core activities, the Trafigura Group encompasses various industrial assets and operating businesses, including Nyrstar, a multi-metals producer, Puma Energy, a fuel storage and distribution company, and our Impala Terminals joint venture. With a workforce of over 12,000 individuals, we operate in 156 countries, demonstrating our global reach and impact.
About Greenergy
With over three decades of experience, Greenergy has established itself as a key player in the transportation fuels sector. Responsible for supplying approximately a quarter of the UK’s road fuels, Greenergy stands out as a leading European producer of biodiesel derived from waste materials, with operational facilities located in both the UK and the Netherlands.
On an international scale, Greenergy annually distributes over 14 billion liters of fuel to various entities, including supermarkets, oil companies, fuel wholesalers, as well as retail and commercial customers. The company’s comprehensive services span the entire fuel supply chain, from importing and storing to blending and distributing fuel, while also managing stock levels for its diverse clientele.
Moreover, Greenergy extends its market presence to Ireland through the Inver Energy and Amber Petroleum brands, further solidifying its reach and impact in the industry.
Source Trafigura