The Dutch bunker service provider Titan Energy will be wholly owned by the Molgas Energy Group and a French financial investor from now on.
“With the support of infrastructure investor InfraVia”, the full acquisition of Titan Energy Holding, the parent company of Titan Clean Fuels, has been completed, Molgas announced. The transaction, which follows the acquisition of a 45% minority stake in 2023, is described as an important step in the Group’s strategic growth in clean marine fuels.
Titan is a previously independent supplier of liquefied biomethane (/Bio-LNG) and LNG to marine and industrial customers. The company’s fleet consists of small bunker vessels, which are particularly well represented in north-western Europe, and there have also been corresponding projects in Germany. Titan’s LNG bunkering activities are to be merged with Molgas’ existing activities in Norway, so that the entire supply of trucks and ships in Norway and continental Europe can now be provided from a single source.
With the integration of Titan, Molgas Energy Group now operates a fleet of seven LNG bunker vessels and manages its own network of over 70 filling stations. In view of stricter regulations such as the EU ETS and FuelEU Maritime and the resulting increase in demand for sustainable energy, Molgas considers itself to be “well positioned”.
Titan itself took over the end customer business of the French Engie Group in April 2018. The customer contracts for bunkering LNG and ongoing maritime LNG projects went to the Dutch company. Titan LNG bunkered a DEME dredger with LNG from the truck for the first time in Mukran last fall.
Following the current transaction, Niels den Nijs – previously CEO of Titan – will head Molgas’ marine business as Executive Vice President. He will oversee all maritime activities and provide integrated end-to-end ship-to-ship and truck-to-ship bunkering services across Europe.
Nen Nijs said today: “Our partnership with Molgas has been a strong strategic fit from the outset and I am delighted to join their board. By joining forces fully, we are significantly strengthening our balance sheet and our combined commercial reach.”
