The acquisition could make Total the leader in natural gas vehicle fuel in Europe
Total has announced its intentions to acquire the Dutch company PitPoint B.V., Europe’s third-largest provider of natural gas vehicle fuel.
With a network of around 100 natural gas fueling stations, PitPoint B.V. is a market-leading integrated independent in alternative fuels involved in biogas, hydrogen and electric vehicle charging points for road and maritime transport. PitPoint’s growth has been strong in several European countries such as the Netherlands, Belgium and Germany.
The Group’s presence in the natural gas vehicle fuel sector will be significantly increased by the acquisition, especially to serve trucking and professional transport companies. Its plans to establish a network of 350 natural gas vehicle fueling stations in Europe by 2022 can be implemented which will make Total the leader in natural gas vehicle fuel in Europe.
Patrick Pouyanné, Chairman and Chief Executive Officer of Total said, “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. 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.”
PitPoint B.V.’s customers and employees will not be affected by the transaction with the terms and conditions of their contracts remaining unchanged. PWKD05052017
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