OrangeGas to acquire five gas filling stations from Öresundskraft
In Sweden, municipal energy utility Öresundskraft AB has announced that it has signed an agreement to sell its five vehicle gas filling stations to the Dutch renewable fuel filling station operator OrangeGas BV. The divestment is expected to benefit the sales of green vehicle gas and thus contribute to the climate change adaptation of the transport sector.
OrangeGas, which is owned by the ABN AMBRO Energy Transition Fund, Meewind, and the company’s management, is a new player in Sweden and has indicated Helsingborg as a possible location for its Swedish head office. The company operates about 130 gas stations in Northern Europe and has two stations in Öland, Sweden under construction.
Bio-based vehicle gas has an obvious future role as fuel in the transport sector. That is why we look very favourably on OrangeGas as a new owner. OrangeGas has green vehicle gas as its core business and a geographical scope that we do not have. This favours the development of green gas in the transport sector, said Anders Östlund, CEO of Öresundskraft
The sale agreement includes all filling stations, four public stations – Filborna, Sydhamnsgatan, Ängelholmsvägen, and Lerberget – as well as the bus depot station. The agreement also includes the take-over of existing supplier and customer agreements. The biomethane sold at the stations is produced locally from local organic waste processing.
In addition to the commercial stations, the bus depot of the city and regional transport operator is an important customer. OrangeGas will be responsible for the daily refueling of 123 buses with biomethane at the depot.
Taking over the biogas sales in Helsingborg and Höganäs is a strategic breakthrough in our ambition to establish ourselves in Sweden and the Nordic countries and we thank Öresundskraft for a professional process, said Marcel Borger, CEO, and Co-Founder of OrangeGas.
Significant growth ambition
OrangeGas has also signed a long-term agreement with Öresundskraft on the operation and maintenance (O&M) of the filling stations and will provide green electricity to the stations. OrangeGas will take over the business on September 1, 2020, subject to customary closing conditions and regulatory approvals and intends to make more acquisitions in Sweden.
The two stations under construction on the island of Öland on the Swedish east coast are expected to be operational later this summer and the ambition is to have 20 to 30 OrangeGas filling stations in Sweden by the end of 2020.
With the takeover of four commercial filling stations and a bus depot in Helsingborg, OrangeGas has made a flying start in Sweden. With this takeover, the annual turnover of OrangeGas will grow by EUR 8 million. And with the still expected developments in Sweden and Germany, OrangeGas will see sales grow by 100 percent in 2021 compared to this year. This is a very important step for OrangeGas, because OrangeGas has the ambition to become the largest clean fuel retailer in northwest Europe. We hope to announce up to 20 additional establishments in Sweden during the year, said Marcel Borger.
The value of the pending transaction has not been disclosed.