St1 completes E.ON Biofor acquisition and takes stake in Biogas Energi Aksdal
St1 Sverige AB, the Swedish subsidiary of Finland-headed energy company St1 Nordic Oy, has announced that it has completed the full acquisition of compatriot E.ON Biofor Sverige AB from E.ON Energilösningar AB, a subsidiary of Germany-headed energy major E.ON. The acquired company now operates under the name St1 BioGas AB (registration pending) and its 35 biogas professionals have joined St1.
First announced in April 2021, has now completed the E.ON Biofor Sverige AB acquisition positioning St1 as a leading biogas player in Sweden with approximately a 30 percent market share in the traffic segment.
St1 BioGas has six biogas production and upgrading units, in Sweden two of which are partly owned subsidiaries, Söderåsen Bioenergi AB and Falkenbergs Biogas AB. The operations are geographically located in the urban areas of Southern Sweden as well as in Stockholm. The company produces imports, and exports biogas and delivers it to customers through several sales channels.
Expanding into Norway
St1 has also revealed that it has acquired 33.33 percent of the shares in the Norwegian company Biogas Energi Aksdal AS from Knapphus og Biogrønn AS. With the trade St1, Knapphus Energi and Nor-log have started the cooperation to build infrastructure for biogas in Norway.
Of St1’s partners, Nor-log Gruppen has bought gas-powered trucks and requires a robust network of filling points and Knapphus Energi has long experience with the operation of energy stations.
In Finland St1 and food company Valio recently announced plans to establish a joint venture to produce renewable biogas from dairy farm manure and other agricultural by-products mainly as fuel for heavy-duty transport. The company to be established is targeting up to 1 TWh of biogas production by 2030.
We have identified strategic focus areas, where we can best achieve our goal in creating a sustainable carbon cycle. By investing in renewable energy and in the transition of the energy sector while ensuring the necessary cash flow, we are solving global energy challenges. Entering biogas business in all our countries of operation is a concrete step in the consistent and long-term implementation of our growth strategy, said Mika Wiljanen, Director of Sales Business Unit, St1 Nordic.