Energy company St1 Nordic Oy’s subsidiary St1 Sverige AB has signed a share purchase agreement with E.ON Energilösningar AB to acquire 100% of the shares in E.ON Biofor Sverige AB. The transaction, which is subject to the fulfilment of customary closing conditions and regulatory approval, is expected to be closed by the end of June 2021.
E.ON Biofor is a biogas player in Sweden with approximately 30% market share in traffic segment. The company has 35 biogas professionals, and its operations are geographically located in the urban areas of southern Sweden as well as in Stockholm. Company produces, imports and exports biogas and delivers it to customers through several sales channels. E.ON Biofor has six biogas production and upgrading units, two of which are partly owned subsidiaries, Söderåsen Bioenergi AB and Falkenbergs Biogas AB.
“We have identified strategic focus areas, where we can best achieve our goal in creating sustainable carbon cycle. By investing in renewable energy and in the transition of the energy sector while ensuring the necessary cash flow, we are solving global energy challenges. Entering biogas business is a concrete step in consistent and long-term implementation of our growth strategy. We are focusing on investments in the production of renewable fuels from sustainable feedstocks, research and development in lignocellulose-based biofuels and geothermal heat, as well as the development of a synthetic fuel value chain,” says Mika Wiljanen, Director of Sales Business Unit, St1 Nordic Oy.