Diversified petroleum distribution firm FinCo Fuel has bought Netherlands-based biofuel producer GoodFuels.
The firm that has been acquired is a supplier of bio-based bunker fuel for the shipping sector – its fuels can be used as a drop-in replacement for petroleum, without requiring major modifications to diesel engines, bunker tanks, bunker barges or fuel distribution infrastructure.
GoodFuels said its acquisition will allow it to gain access to additional sourcing, supply management and logistical expertise.
Dirk Kronemeijer, CEO of GoodFuels, said: “The need for positive, progressive and proven sustainability solutions has never been greater across these sectors, which must now strive for full decarbonisation.
“With this acquisition, FinCo Fuel Group is sending a clear signal about our ambition and commitment towards supporting the sustainable mobility transition.”