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News / Business/ FinCo acquires majority stake in renewable fuels player GoodFuels

FinCo acquires majority stake in renewable fuels player GoodFuels

07 Jan 2020
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Downstream energy market firm FinCo Fuel Group on Monday (6 January) acquired a majority stake in Good NRG, the holding company of shipping and heavy transportation biofuel manufacturer Goodfuels.

The acquisition will enable GoodFuels to tap into the complimentary sourcing, supply management and logistics expertise of the wider FinCo Fuel Group. 

“With this acquisition, FinCo Fuel Group is sending a clear signal about our ambition and commitment towards supporting the sustainable mobility transition,” said FinCo Fuel Nederland CEO Pieter Peeters.
 
“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.”

“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,” added GoodFuels CEO Dirk Kronemeijer.
 
“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.”

Photo credit: FinCo Fuel Group
Published: 7 January, 2020
 

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