OMV Petrom Bets on Biofuels Via New Acquisition
11.28.2023 By Tank Terminals - NEWS

November 28, 2023 [Petrol Plaza]- The company has acquired a 50% stake in Respiră Verde, a company which focuses on the collection of used cooking oil in Romania.

 

OMV Petrom has signed an agreement to purchase 50% of the shares of the Romanian company Respiră Verde, a local leader in the collection of used cooking oil.

Through this acquisition, the company aims to focus on biofuels, as used cooking oil is one of the main renewable feedstocks to produce sustainable aviation fuel (SAF) and biodiesel. These alternative fuels have proven to be key in the decarbonization of both the transportation and aviation sectors.

Founded 12 years ago, “Respiră Verde” collects up to 10,000 tons of used cooking oil per year from companies active in sectors such as hospitality (hotels, restaurants) and retail.

The company has its own transport fleet, and it operates two main warehouses, in Bihor and Ialomița, aiming to expand its activity on other European markets in the near future.

“We are looking for the best solutions to reduce emissions, and biofuels offer an opportunity to decarbonise transportation. One of the targets of our 2030 strategy is for biofuels to account for more than 15% of total fuel production,” said Radu Caprau, member of OMV Petrom’s Executive Board, responsible for Refining and Marketing.

OMV Petrom has taken important steps to increase the share of biofuels. In 2022, Petrobrazi became the first ISCC2-certified refinery in the country capable of producing SAF and HVO by co-processing biological feedstocks.

 

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