Spain-based downstream LNG and renewable gases company Molgas Energy, backed by France-based infrastructure investor InfraVia Capital Partners, has finalized the full acquisition of the Netherlands-based Titan Energy Holding, parent company of Titan Clean Fuels.
According to Molgas, the transaction, which follows its initial 45% minority stake , marks a step forward in the company’s growth in the clean marine fuels sector.
Titan, a supplier of liquefied biomethane (LBM/bio-LNG) and LNG, serves both maritime and industrial customers, and its fleet of small-scale bunkering vessels operates globally. As disclosed, Titan’s LNG bunkering operations will merge with Molgas’ existing operations in Norway, and all truck-to-ship supply across Norway and continental Europe will now be combined.
It is understood that with the integration of Titan, Molgas now operates a fleet of seven LNG bunkering vessels and manages a proprietary network of over 70 road-fueling stations, with more than 200 points of sale, including associated partner stations.
Following the transaction, Niels den Nijs, CEO of Titan, will lead Molgas’ Marine Business as Executive Vice President, Marine.
Sofoklis Papanikolaou, CEO of Molgas, commented: “Niels and the Titan team started as true pioneers, showing remarkable innovation and have grown Titan into one of the sector’s most reliable LNG bunkering operators. The success of our initial collaboration laid the groundwork for this acquisition, which significantly extends our reach and capabilities. We are welcoming to the group a very experienced team, with leading specific expertise in marine fuels and decarbonisation. Together, we will build a robust platform to deliver LNG and bio-LNG solutions across Europe and beyond.”
Niels den Nijs, CEO of Titan, said: “From the start, our partnership with Molgas was a strong strategic fit and I’m very happy to join their board. By joining forces fully, we substantially strengthen our balance sheet and joint commercial reach. Together, we will scale our clean fuel solutions for the maritime sector at a time of accelerating demand and regulatory tail winds. This integration allows us to better serve our long-term customers with an unrelenting focus on our mission: to deliver economical fuel at scale to help decarbonize shipping.”