Ambrian Capital acquires Masefield Biofuels
On 18 August 2010 Ambrian Capital acquired international energy trading company Masefield Group’s biofuels business, Masefield Biofuels.
The business, which supplies its European customers with biodiesel and other biofuels, will now trade under the name Ambrian Energy GmbH. Ambrian Capital is expected to invest $5 million (€3.9 million) in the business.
Ambrian Energy GmbH will focus on palm methyl ester (PME), rapeseed methyl ester (RME) and soyabean methyl ester (SME).
In 2009 Masefield Biofuels supplied over 100,000 tonnes of biodiesel to its Europe-based clients, totalling approximately $100 million. Today Ambrian Energy GmbH will lease 12,200m3 of biodiesel storage tank capacity in Ghent, Belgium.
‘The acquisition of Masefield’s biofuels business is an important step in Ambrian’s strategy to become a leading global supplier of physical commodities, strengthening both our established commodities trading business and our natural resource franchise,’ the chief executive of Ambrian Capital Tom Gaffney said. ‘We intend to replicate the success we have had supplying non-ferrous metal by entering selected niche products in the energy sector. Biofuels are a particularly attractive product area given their growth potential sad an alternative to fossil fuels.’
The business, which supplies its European customers with biodiesel and other biofuels, will now trade under the name Ambrian Energy GmbH. Ambrian Capital is expected to invest $5 million (€3.9 million) in the business.
Ambrian Energy GmbH will focus on palm methyl ester (PME), rapeseed methyl ester (RME) and soyabean methyl ester (SME).
In 2009 Masefield Biofuels supplied over 100,000 tonnes of biodiesel to its Europe-based clients, totalling approximately $100 million. Today Ambrian Energy GmbH will lease 12,200m3 of biodiesel storage tank capacity in Ghent, Belgium.
‘The acquisition of Masefield’s biofuels business is an important step in Ambrian’s strategy to become a leading global supplier of physical commodities, strengthening both our established commodities trading business and our natural resource franchise,’ the chief executive of Ambrian Capital Tom Gaffney said. ‘We intend to replicate the success we have had supplying non-ferrous metal by entering selected niche products in the energy sector. Biofuels are a particularly attractive product area given their growth potential sad an alternative to fossil fuels.’
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