Pioneer Point Partners acquires OG Clean Fuels

Photo: ABN AMRO

Pioneer Point Partners LLP announced March 11 its acquisition of OG Clean Fuels B.V., a leading owner and operator of clean-fuels filling stations based in the Netherlands.

OG is the second investment through Pioneer’s second institutional fund, Pioneer Infrastructure Partners II SCSp.

OG has 325 filling-station locations across Germany, the Netherlands, Sweden and Italy that offer:

• Compressed biomethane (bio-CNG).

• Liquefied biomethane (bio-LNG).

• Electric-vehicle charging.

• Hydrogen.

• Liquid biofuels.

OG purchases biomethane, green power and green hydrogen from local producers and sells these clean fuels onwards to road-transport users through the filling stations.

Founded in 2008, OG started as a supplier of bio-CNG for passenger cars and vans in the Netherlands.

Over time, OG’s strategy has evolved to target the heavy-goods vehicles (HGV) market, including providing on-depot filling stations with volumes secured under long-term offtake contracts.

OG currently operates and has under construction nearly 30 on-depot stations that provide bio-CNG refueling for HGVs, with customers including DHL and Edeka in Germany and major bus companies in Sweden.

Pioneer acquired the company from ABN AMRO Sustainable Impact Fund and a fund managed by Meewind.

The fund’s commitment will finance the acquisition of the company as well as an immediate investment to finance the roll-out of OG’s near-term pipeline of new clean-fuel filling stations in Germany.

Pioneer’s vision is for OG to invest more than 150-million euros (USD$163.4 million) over the next five years to continue the company’s journey to becoming a multifuel decarbonization-solutions provider for large logistics and transport companies as well as heavy-goods fleet operators.

This vision is shared with OG’s founder and CEO Marcel Borger and chief operating officer Jeroen Meiberg, who will remain as shareholders with a minority stake in the company alongside Pioneer to execute this strategy.