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Greenergy

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British distributor and blender of petrol, diesel and jetfuel
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Greenergy International Ltd.
Company typePrivate.Limited company
IndustryFuel distribution
Founded1992
Headquarters198High Holborn, London
Area served
United Kingdom, Ireland, Canada and Brazil
Key people
Andrew Owens, Chief executive
RevenueDecrease£15.92 billion (2019)[1]
US$21.1 billion
Increase £76.8 million (2019)[1]
Increase £43.12 million (2019)[1]
Total assetsIncrease £2.408 billion (2019)[1]
Number of employees
1,130 (2019)[1]
SubsidiariesInver Energy
Websitewww.greenergy.com

Greenergy International Ltd is a British distributor of petrol and diesel for motor vehicles and at one point had over a quarter of the UK market. It blends fuels at terminals on theThames estuary in the south and onTeesside in the north.[citation needed] It sold more than 20 million litres of petrol and diesel a day in 2007.[2][citation needed] In 2015 it ranked 474 on theFortune 500 list of largest companies by revenue.[3]

History

[edit]

Greenergy acquired the growing nationwide dealer network Inver Energy Ltd, headquartered inCork, Ireland, for an undisclosed amount in early 2017. Through partnership with East Cork Oil and Atlantic Fuel Supply, the deal included Greenergy's co-owned refinery inFoynes, which was the largest refinery in Ireland at 82,000 m3. It acquired a refinery fromTexaco inCardiff from 2006, acquiring 100% of the facility and expanding it in 2010.

Inver Energy had started as local oil and fuel distributor, expanded into marine fuels when it acquired that business fromMaxol.

In 2016, Inver Energy recorded a €5.7 million pre-tax profit last year on turnover of €485.9 million, employing 25 people, providing around 10% of Ireland's marine fuel needs.[4]

In March 2024,Trafigura agreed to acquire Greenergy's European business fromBrookfield Asset Management andBrookfield Business Partners. At that time, Greenergy had manufacturing plants in the UK and the Netherlands.[5] Trafigura increased its stake in May 2024.[6]

Operations

[edit]

Greenergy sells fuel to petrol stations and supermarkets for retail sale, and to transport companies in the UK. It does so in Ireland as Inver as of 2015.[7]

The company produces and sellsbiofuel. It has a 250,000 tonne/300 million litre per year plant atImmingham on the east coast of England where biodiesel is made fromrapeseed oil.[2][8]

References

[edit]
  1. ^abcdehttps://www.greenergy.com/annual-reports#accept-cookies. 2019 Annual Report. Retrieved 12 November 2022.
  2. ^ab"Greenergy gets green light"(PDF).News from Simon Storage. January 2007. Archived fromthe original(PDF) on 16 July 2011. Retrieved8 June 2019.
  3. ^"Greenergy Fuels Holdings Financials and News | Global 500". Archived fromthe original on 2015-07-31. Retrieved2015-07-22.
  4. ^Taylor, Charlie."UK firm Greenergy buys Cork-based Inver".The Irish Times. Retrieved8 June 2019.
  5. ^"Trafigura to acquire Greenergy's European business". Retrieved2024-08-07.
  6. ^"Trafigura to buy more of Greenergy in renewable portfolio boost". Retrieved2024-08-07.
  7. ^"Tank Storage Association » Greenergy Terminals". Archived fromthe original on 2015-01-05. Retrieved2015-01-05.
  8. ^"Newest UK plant turns rapeseed oil into 'green fuel' - Farmers Guardian".Farmersguardian.com. Retrieved8 June 2019.
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