Following Trafigura’s announcement in March of its proposed acquisition of Greenergy’s European operations, the commodity trader has now expanded its agreement with Brookfield Asset Management and its listed affiliate Brookfield Business Partners to include Greenergy’s Canadian supply operations.
Founded in 1992 to supply diesel with lower emissions, Greenergy is one of Europe’s largest suppliers of biofuels with manufacturing plants in the UK and the Netherlands. Greenergy entered the Canadian market in 2013 and supplies commercial and wholesale customers with a range of fuels including higher percentage biodiesel blends from its rail-fed terminals in Ontario and British Columbia.
In a statement sent to Bunkerspot today (8 May), Ben Luckock, Global Head of Oil at Trafigura, said: ‘Greenergy’s Canadian business has strong commercial synergies with our global distillates, gasoline and biofuels business and our well-established commercial relationships across North America.’
Christian Flach, Greenergy CEO, added: ‘Following the earlier announcement of Trafigura’s proposed acquisition of Greenergy’s European operations, we are delighted to now include our Canadian supply operations as part of the transaction. Trafigura’s financial strength will provide us with a robust platform for growth across Canada, helping us to expand our infrastructure facilities in strategic locations, bringing road fuels closer to our customers.’
Greenergy’s operations in Canada are focused mainly on road fuels, while it has more involvement in the European marine fuel sector. Greenergy entered the UK marine fuels market in late 2018 and began supplying from Thurrock, covering the River Thames and southeast England, in 2019. In July 2023, Bunker One took on the supply and logistics of Greenergy’s bunkering operation on the River Thames.
The acquisitions are subject to customary closing conditions and regulatory approvals.
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