Finco Fuel Group has expanded its network by acquiring a majority stake in GoodNRG, the holding company of renewable fuels company Goodfuels
Finco’s acquisition will enable Goodfuels to tap into the complimentary sourcing, supply management and logistics expertise of the wider Finco Fuel Group.
Finco Fuel Nederland’s chief executive Pieter Peeters said the acquisition reflected the company’s ambitions adding “Goodfuels has pioneered the sustainable fuel market for shipping and is an important market leader across other transportation sectors. Its approach, based on uncompromising high standards, is fully aligned with our own. With our strengths and deep network we can further support the Goodfuels brand with its continued evolution.”
Goodfuels chief executive Dirk Kronemeijer spoke of the need for sustainable solutions adding “Together with Finco, we can fulfil our joint mission and realise a cleaner, greener transportation sector.”
Both parties expect to contribute to a further reduction of CO2.
Finco, which is involved in the downstream fuel market, has launched a new PIB programme to supply biofuels to the Netherlands and clean energy to South Africa.
Meanwhile Goodfuels, a biofuel start-up, is supplying renewable fuel for Jan De Nul group’s dredging operations in the Benelux region. Over the past year, a number of companies including IKEA Transport & Logistics Services, NYK Line and CMA CGM have begun trialling Goodfuel’s product.