June 13, 2023 [Globe Newswire]- U.S. Oil, a leader in retail, commercial, and wholesale fuel distribution; supply and trading; logistics; and terminal operations of refined products and renewable fuels, and U.S. Gain, a leader in the development and distribution of alternative fuels and environmental credits, today announced the formation of a combined company: U.S. Energy.
U.S. Energy is a vertically integrated energy solutions provider proficient in refined products, alternative fuels, and environmental credits. Its comprehensive portfolio of assets paired with risk management, financial services, and advisory insights offer customers realistic, executable strategies that satisfy both their economic and environmental goals.
U.S. Energy has offices in Wisconsin and Texas with an asset portfolio of more than 30 refined product terminals, 40 renewable natural gas development projects, 50 alternative fuel stations, and three forestry projects. As a key supplier to the transportation market, U.S. Energy offers diesel, gasoline, natural gas liquids, ethanol, biodiesel, renewable diesel, compressed natural gas, renewable natural gas, electric charging solutions, hydrogen, and a variety of carbon credits. Tenured in trading, logistics, storage, compliance, and marketing, U.S. Energy is uniquely positioned to serve its customers’ current and future energy needs.
As a privately held, family-owned business, U.S. Energy is a U.S. Venture company, committed to finding a better way to be the very best provider of transportation products, sustainability solutions, and insight driving the world forward.
U.S. Oil was most recently led by Eric Kessenich who joined the company in 2010 and was promoted to president in 2017. Kessenich was further promoted to chief operating officer of U.S. Venture in August 2022. As chief operating officer, Kessenich will oversee the operations of all U.S. Venture companies: including U.S. Energy, U.S. AutoForce, U.S. Lubricants, Breakthrough, and IGEN.
“This reunion is an important milestone for our company. While our roots remain in the refined products side of our business, we recognize the need to offer a more diverse range of solutions under one brand as our customers’ needs evolve—ultimately becoming an energy-agnostic solutions provider,” shared Eric Kessenich, chief operating officer at U.S. Venture. “With U.S. Oil’s tenure in refined products and U.S. Gain’s expertise in renewables, we knew we had an opportunity to service our customers with a more comprehensive offering and a streamlined experience.”
Mike Koel has been selected to lead U.S. Energy as its president. Koel has been with U.S. Venture for over 20 years—working within U.S. Oil as a trader, vice president of supply and trading, and vice president of business development. In May 2017, Koel was named president of U.S. Gain: a Sustainable Energy Solutions™ company he founded within U.S. Oil in 2011. In his new role as president of U.S. Energy, Koel will be responsible for the company’s growth and expansion into new markets and technologies.
“I’m honored to lead the U.S. Energy team in this next chapter as a company, and I’m excited to share we’ve already discovered synergies and opportunities to improve our customer experience,” said Mike Koel, president of U.S. Energy. “Our vertical integration throughout the energy supply chain enables access to an array of solutions at a competitive price. As an energy developer, distributor, and marketer, we can ensure our customers are aware of risks and opportunities within the industry and benefit from our development of new technologies that integrate with our service offerings.”
“The U.S. Oil brand dates back to our inception as a business. Formerly known as Schmidt Brothers Oil Company, my father and uncle founded this company in 1951 on our customer promise of finding a better way,” shared John Schmidt, president and chief executive officer at U.S. Venture. “As market needs have shifted, so have our solutions—giving way to new portfolio offerings and additional business units. The U.S. Energy brand continues that legacy: putting our customers first alongside their unique energy needs.”
Driven to be the very best and most trusted energy solutions provider dedicated to finding a better way toward a sustainable future, U.S. Energy has diversified throughout the energy supply chain to better serve its customers.
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