WELLBRED TRADING SA ACQUIRES WASTE TO BIODIESELREFINERY, EXPANDS CLEAN ENERGY PORTFOLIO

The acquisition ensures the retention of the entire workforce.

GENEVA, Aug. 8, 2024  /PRNewswire/ -- Wellbred Trading SA signals global growth in renewable energy with the acquisition of a refinery in Prémery, France, La Nivernaise de Raffinage SAS, which converts used cooking oil into energy. This strategic acquisition is an important milestone in Wellbred's expansion into the French domestic market of renewable energy.

"We are delighted to welcome La Nivernaise de Raffinage SAS to the Wellbred Trading family," said Ghazi Abu Al-Saud, Global CEO of the Wellbred Group. "This acquisition gives us the opportunity to engage further with the renewable energy space and reinforces our commitment to growth in this important aspect of Wellbred's value chain."

The refinery located right in the heart of France specializes in the conversion of used cooking oil into valuable resources that contribute to the production of biofuels and other renewable energy sources.

"The retention of all 35 employees of La Nivernaise de Raffinage SAS will make this transition seamless as we continue to supply the domestic market and capitalize on their experience to promote innovations in refining more difficult wastes" said Simon Lausch, Managing Director of Wellbred Trading SA. "As the plant grows and expands, we hope to further serve the local community and its economy."

The integration of La Nivernaise de Raffinage SAS into Wellbred's renewables desk based in Geneva offers new opportunities for growth, diversification and collaboration. Wellbred Trading SA started its Renewables desk in 2022 starting with a specific focus on the supply of biofuels to Scandinavian markets, notably Norway and Sweden.  Since then, the business expanded into the supply of biofuels into the marine sector.  With a shared focus on sustainability and innovation, the combined expertise of both companies is expected to drive expansion of the refinery and contribute to the broader goals of renewable energy production. It will also allow Wellbred Trading SA to set foot into the global trading of feedstocks and the distribution of biodiesel into France, Germany and Spain.

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SOURCE Wellbred Trading SA