FinCo and GoodFuels join forces

Photo: GoodFuels

FinCo Fuel Group, a downstream fuel market regular based in the Netherlands, recently acquired a majority stake in GoodNRG, the holding company of the renewable fuels pioneer GoodFuels.

The latter will profit from FinCo’s experience in complimentary sourcing, supply management and logistics. Both parties expect to contribute to a further reduction of CO2 and acceleration of the energy transition.

Pieter Peeters, CEO, FinCo Fuel Nederland, said, "[…] 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."

Dirk Kronemeijer, CEO, GoodFuels, added, "Today is an exciting and positive next step in GoodFuels' journey to advance the use of sustainable advanced biofuels across heavy duty transportation […]. 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."

GoodFuels' second generation biofuel, derived from forest residues and waste cooking oil, was tested by CMA CGM in March 2019, in a co-op also involving IKEA Transport & Logistics Services, the GoodShipping Programme and the Port of Rotterdam.