PARIS--(BUSINESS WIRE)--Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) is acquiring the Dutch company PitPoint B.V., Europe’s third-largest provider of natural gas vehicle fuel.
PitPoint B.V. is a market-leading integrated independent in alternative fuels with a network of around 100 natural gas fueling stations. The company is also involved in biogas, hydrogen and electric vehicle charging points for road and maritime transport. PitPoint B.V. has been growing strongly in several European countries such as the Netherlands, Belgium and Germany.
The acquisition will enable the Group to significantly increase its presence in the natural gas vehicle fuel sector, in particular to serve trucking and professional transport companies, and implement its plans to establish a network of 350 natural gas vehicle fueling stations in Europe by 2022, making Total the leader in natural gas vehicle fuel in Europe.
“Following the acquisition of Lampiris in 2016, this acquisition is part of Total’s strategy to expand its low-carbon businesses, notably through the development of natural gas in which the Group is a global leader. Unlocking gas demand with new usages for transport is central to our integrated strategy of expanding along the natural gas value chain,” said Patrick Pouyanné, Chairman and Chief Executive Officer of Total. “There is strong development potential for natural gas vehicle fuel in the transport sector. Our aim is to combine PitPoint’s technological and commercial expertise acquired over the last ten years with Total’s strong retail marketing network and client portfolio. PitPoint will thus be central to the Marketing & Services segment’s ambitions in the natural gas vehicle fuel sector in Europe, in line with the aim of offering our customers clean energy solutions.”
The transaction will not affect PitPoint B.V.’s customers and employees. The terms and conditions of their contracts will remain unchanged.
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Total and Natural Gas Fuel
Total already has a network of 450 natural gas vehicle fueling stations worldwide, including about 100 stations in Europe. The Group markets compressed natural gas (CNG) in France, Germany, the Netherlands, Belgium, Egypt and Pakistan. It opened its first liquefied natural gas (LNG) fueling station in 2015 in Belgium, near the port of Antwerp.
Total intends to fast-track the development of its natural gas vehicle network to reach a scale that meets the needs of its customers. Its target market is the transport sector in Europe, where the Group is able to leverage its existing network of more than 9,000 service stations for professional and invidividual clients. The priority will be accelerating growth in markets where Total is already active in natural gas vehicle fuel — Germany, the Benelux countries and France.
PitPoint B.V. and Alternative Fuels
PitPoint B.V. actively contributes to the development of service stations selling alternative fuels to professional and individual clients in Europe. Through ongoing innovation and investment in compressed natural gas (CNG), biogas, liquefied natural gas (LNG), hydrogen and electric vehicle charging points, PitPoint B.V. is ensuring that transportation and air quality go hand in hand.
About Natural Gas Fuel
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Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in solar energy with SunPower and Total Solar. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits. total.com
About PitPoint B.V.
PitPoint is an independent market leading provider of alternative fuels in The Netherlands, Belgium and Germany. It provides clean fuel solutions, being CNG (including greengas), LNG, hydrogen (H2) and electricity to its customers in road and marine transport. PitPoint has the mission to actively support the use of clean fuels towards clean transport in 2030. pitpoint.nl
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