Waste fuels specialist, Geminor, has acquired Norwegian biofuel producer Bøn Biobrensel AS.
According to the firm, the move strengthens its position in the Nordic secondary fuels market.
Geminor chief executive, Kjetil Vikingstad, and general manager of Bøn Biobrensel AS, Johan Peter Olö, recently signed an agreement that secures Geminor 100% of the shares in the biofuel company.
According to Geminor, the acquisition means that the company doubles its capacity in the production of wood chips for fuel in waste-to-energy facilities in the region.
Bøn Biobrensel AS, which was established in 2011, produces wood chips and biochips as secondary fuels and operates mobile CBI grinders located at recycling stations. The company produced 75,000 tonnes of wood chips and had a turnover of Euro 1.5 million in 2018.
Commenting on the acquisition, general manager at Bøn Biobrensel AS, Johan Peter Olö, said: “We are pleased to become a part of an ambitious company such as Geminor. The operation will continue as before, but we are now set for larger production and more tailor-made customer solutions in the years to come. In 2019 we expect to increase the production of chips to 120,000 tonnes.”
“With Bøn Biobrensel AS we increase our capacity and become significantly stronger in mobile production projects in Norway. “Kjetil Vikingstad
Geminor said it is currently England’s biggest exporter and Norway’s biggest importer of refuse-derived fuel (RDF) and solid recovered fuel (SRF) – the firm has logistic hubs in Scandinavia, Finland and Germany. The company said it handles more than 1.5 million tonnes of waste each year and has contracts with more than 80 waste-to-energy and recycling facilities in Northern Europe.
Chief executive of Geminor, Kjetil Vikingstad, commented: “With Bøn Biobrensel AS we increase our capacity and become significantly stronger in mobile production projects in Norway. Our desire is to become a complete service provider in the industry – both in terms of treatment and recovery of waste and secondary fuels. With the acquisition of Bøn Biobrensel we are taking a big step in the right direction.”