Geminor acquires Norwegian biofuel producer
5. March, 2019
Resource management company Geminor acquires the Norwegian biofuel producer Bøn Biobrensel AS, strengthening its position in the Nordic secondary fuels market.
CEO of Geminor, Kjetil Vikingstad, and general manager of Bøn biobrensel AS, Johan Peter Olö, recently signed an agreement that secures Geminor 100 percent of the shares in the biofuel company. The acquisition means that Geminor doubles its capacity in the production of wood chips for fuel in waste-to-energy facilities.
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 chips and had a turnover of Euro 1.5 million in 2018.
– 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, says general manager at Bøn biobrensel AS, Johan Peter Olö.
Geminor is currently England’s biggest exporter and Norway’s biggest importer of refuse-derived fuel (RDF) and solid recovered fuel (SRF), and has logistic hubs in Scandinavia, Finland and Germany. The company handles more than 1.5 million tons of waste each year and has contracts with more than 80 waste-to-energy and recycling facilities in Northern Europe.
The CEO of Geminor, Kjetil Vikingstad, comments on the acquisition.
– 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.