Moeve, Cepsa’s new name associated with the energy transition and decarbonization.

As of yesterday, Moeve is the new name for Cepsa. This was announced by its CEO Maarten Wetselaar, who explained that with this brand the company “reflects our strong commitment to becoming a benchmark for the energy transition in Europe.” We want to tell the world that we are transforming our organization so that by the end of this decade, the majority of its profits will come from sustainable activities. A cohesive and cohesive company that has accelerated its transformation over the past two years, achieving several milestones as part of its Positive Motion 2030 strategy and its commitment to energy, ultra-fast electric mobility, green hydrogen and second-generation biofuels. Progress in fulfilling our commitments Given these achievements and those we will make in the future, we are introducing a new brand.

After 90 years of Cepsa’s existence, this change also meets the goal of accelerating the decarbonization of the company and its customers. To this end, it envisages investments of up to 8 billion euros, of which more than 60% will be allocated to sustainable businesses such as the production of green hydrogen, second generation (2G) biofuels and sustainable chemicals, as well as ultra-fast electric charging.

The most visible aspects of this new customer experience can be seen in the transformation of customer touchpoints, the expansion of alternative energy offerings, and the new restaurant, parcel collection and store services.

Likewise, yesterday’s announcement will be accompanied by a gradual rollout of the new brand across all petrol stations starting in November this year, at a rate of around 600 stations per year until it reaches the more than 1,800 that the company has. in Spain and Portugal. At the same time, the company will launch a new global advertising campaign in the coming days.

Positive movement

Since launching its Positive Motion strategy in March 2022, the company has implemented a large number of projects and created an ecosystem of alliances with more than 60 companies from various sectors to advance various value chains and implement these projects.1

Thus, the company is developing the Andalusian Green Hydrogen Valley, the largest project presented to date in Europe, whose capacity in 2030 is expected to be 2000 MW. In addition, he contributed to the creation of the first maritime corridor between the ports of Algeciras and Huelva with the port of Rotterdam, which will link the south and north of Europe, and together with his partners is working on the creation of new plants for the production of green methanol and ammonia. .

In addition, it is developing the largest 2G biofuels production complex in Southern Europe, located in Palos de la Frontera (Huelva), with an annual production capacity of one million tons of sustainable aviation fuel -SAF- and renewable diesel fuel -HVO-. . Currently, Moeve already sells this environmentally friendly fuel in seven main airports in Spain and in more than 60 ports in the country in which it operates.

The energy company, together with its partners, is also promoting the construction of about 30 biomethane plants in Spain and implementing waste recycling projects to produce this biogas, a substitute for natural gas. The Moeve service station network already has more than 160 active ultra-fast charging points and plans to complete the year with 400 points to develop one of the largest ultra-fast charging networks in Spain and Portugal as a whole.

The company is transforming its chemical product portfolio towards more sustainable solutions. In particular, it already produces and sells LAB (base for the production of biodegradable detergents) and phenol from raw materials and renewable energy sources. In addition, an isopropyl alcohol (IPA) plant is being built in Huelva, a base for the production of hydroalcoholic gels, which will be the first plant of its type in Spain, using green hydrogen and capable of replacing raw materials of fossil origin. with sustainable materials.

The company this year announced the sale of its exploration and production assets in Colombia and Peru, following a sale completed in Abu Dhabi in 2023, representing a sale of about 70% of its oil production assets compared to 2022. The company also announced in August last year the sale of its butane, propane and autogas subsidiary (Gasib).

For Maarten Wetselaar, CEO of Moeve, yesterday was “a historic day for the family of more than 11,000 professionals that make up the company. But also for our customers, partners, suppliers and other stakeholder groups that we want to have a positive impact on.”

In addition, the CEO assured that “today we are launching Moeve as a sign of our next step in the history of the energy sector. We were born under the acronym Compañía Española de Petróleos SA in 1929 to build Spain’s first oil refinery and lead the first energy transition, and for almost a century Cepsa has played a decisive role as the engine of progress and economic growth in Spain. However, today the world needs other types of more sustainable energy solutions. Moeve allows us to face the future with greater confidence and confidence, while maintaining a clear commitment to our customers: to expand the offer of sustainable and affordable energy solutions, contributing to their decarbonization and thus moving forward together in the new energy transition to achieve a better world. “

For its part, the company’s corporate foundation, the Moeve Foundation, will continue to promote initiatives aimed at addressing the challenges of the green transition and improving the quality of life of the most vulnerable groups, with a particular focus on promoting a just and inclusive transition as part of the green transition. , scientific, educational and social spheres.