(AOF) – TotalEnergies announces the acquisition of Tecoil, a Finnish company specializing in the manufacture of Rerefined Base Oils and currently having the most efficient used oil reprocessing process on the market. Tecoil currently operates a production site with a rerefined base oil production capacity of 50,000 tonnes per year in Hamina, a port located on the Baltic Sea in eastern Finland. This plant has its own collection circuit for used lubricants from the circular economy in Europe.
“The integration of Tecoil within TotalEnergies will allow us to accelerate the use of these regenerated base oils in the manufacture of our high-end lubricants and to meet the growing demand of our customers for products,” underlines Pierre Duhot, senior vice-president of lubricants and specialties at TotalEnergies.
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Biogas to green activities
Obtained through the decomposition of waste, it falls into the category of green energy. It is part of the strategy of many countries, particularly in Europe, to reduce their dependence on hydrocarbon imports. Oil groups have strong ambitions in the field, as two recent operations reveal. The British BP took over the American Archaea Energy for 4.1 billion dollars. Then, the Anglo-Dutch Shell announced the acquisition of the Danish Nature Energy for $2 billion. These operations display high valuation levels, highlighting the strong potential of the sector. TotalEnergies had already taken a stake in the American Clean Energy Fuels Corp in 2018, of which it now holds 19%. It recently joined forces with Veolia to recover biomethane from waste treatment facilities.
