Geminor acquires biomass fuel producer Bøn Biobrensel
In Norway, resource management company Geminor AS has revealed that it has recently acquired compatriot biomass fuel producer Bøn Biobrensel AS, strengthening its position in the Nordic secondary fuels market.
According to a statement, Kjetil Vikingstad, CEO of Geminor and Johan Peter Olö, General Manager of Bøn Biobrensel recently signed an agreement that secures Geminor 100 percent of the shares in the biomass fuel company. The acquisition, the value of which has not been disclosed, means that Geminor doubles its capacity in the production of woodchips for fuel in waste-to-energy (WTE) facilities.
With Bøn Biobrensel AS we increase our capacity and become significantly stronger in mobile production projects in Norway. Our desire is to become a complete service provider in the industry – both in terms of treatment and recovery of waste and secondary fuels. With the acquisition of Bøn Biobrensel we are taking a big step in the right direction, said Kjetil Vikingstad.
Established in 2011, Bøn Biobrensel produces woodchips and biochips as secondary fuels and operates mobile CBI grinders located at recycling stations. The company produced 75 000 tonnes of chips and had a turnover of EUR 1.5 million in 2018.
We are pleased to become a part of an ambitious company such as Geminor. The operation will continue as before, but we are now set for larger production and more tailor-made customer solutions in the years to come. In 2019 we expect to increase the production of chips to 120 000 tonnes, said Johan Peter Olö.
Established in Norway in 2004, Geminor is an international recycling company focusing on refuse-derived fuel (RDF), solid recovered fuel (SRF), recycled waste wood, hazardous waste for energy recovery and paper, cardboard, plastic and other types of waste for material recycling in the North-European market.
Geminor has logistic hubs and offices in Scandinavia, Finland, UK and Germany, and employs 48 professionals. With an annual turnover of approximately EUR 115 million, the company handles more than 1.5 million tonnes of waste-derived feedstock annually and holds contracts with more than 80 waste-to-energy (WTE) and recycling facilities.