Environmental commodity trader and climate solutions provider STX Group has acquired Dutch waste-based advanced feedstock trader Marine Olie.
STX Group said the acquisition would strengthen its position in the biofuels value chain and support its aim to become a globally leading trader in the integrated feedstocks-to-fuels-to-ticket markets.
Financial details of the acquisition were not disclosed.
The agreement would bring together Marine Olie’s experience in aggregating, blending and optimising oils and fats, and strategic infrastructure positions in the Amsterdam-Rotterdam-Antwerp (ARA) area with STX Group’s broader environmental market footprint, regulatory expertise and access to capital, STX Group said on 3 December.
This would create a feedstock trading platform under STX Group, the company said.
“The biofuels market is one of the largest environmental commodity markets globally and will play a significant role in decarbonising the shipping, road, industry and heating sectors. The availability of reliable waste-based ‘advanced’ feedstocks will … be a key ingredient for a well-functioning and sustainable biofuels market,” STX Group CEO Marijn van Diessen said.
The acquisition of Marine Olie would allow STX Group to strengthen its presence in the biofuels market and extend its range of products and services, the company said.
STX Group said the Marine Olie brand would be maintained as the group’s feedstock trading platform.