The circular economy sector and renewable alternative fuels is an important aspect in the overall business strategy of Motor Oil Group, which is expanding its activities in this sector with new investments,partnerships and acquisitions. Over the last two years, significant investments have been made in both of these sectors.
In light of this, the Motor Oil Group has proceeded in acquiring of all the shares of the company “ELIN VERD S.A. SUSTAINABLE PRODUCTS AND SERVICES COMPANY” (“VERD”). With the acquisition of VERD, the Group is pioneering investments in the Sector using biological products, waste and products for disposal to produce energy and new, more environmentally friendly fuels. VERD was founded in 2005 and is active in the production and marketing of biofuels.
VERD has a biodiesel production plant in Volos with a production capacity of 80 000 Tonnes of biodiesel per year. In addition, VERD is a leader in the collection of waste edible oils in Greece through its subsidiary, PRASINO LADI S.A collecting annually about 25 000 Tonnes of waste oils, which it currently recycles, using them for the production of green fuel with a low environmental footprint. Based on the platform of VERD and Green Oil – and in combination with the network, the production base and the wider support and presence of the group – the aim is to create a regional leader in the field of renewable fuels and the circular economy, the which will be dedicated to the production and marketing of alternative fuels with a low environmental footprint