Moeve is, since yesterday, the new name of Cepsa. It was announced by its CEO, Maarten Wetselaar, who explained that with this brand the company “reflects our firm commitment to being a benchmark for the energy transition in Europe. We want to tell the world that we are transforming our organization so that most of its profits come from sustainable activities by the end of this decade. A close and collaborative company that in the last two years has accelerated its transformation, achieving multiple milestones within the framework of its Positive Motion strategy for 2030 and its commitment to energy, ultra-fast electric mobility, green hydrogen and biofuels. of second generation and advances in its commitment Given these advances and those that we will make in the future, we present a new brand.
After 90 years as Cepsa, this change also responds to the objective of accelerating its decarbonization and that of its clients. To this end, it foresees an investment of up to 8,000 million euros, of which more than 60% will be dedicated to sustainable businesses, such as the production of green hydrogen, second generation biofuels (2G) and sustainable chemicals, as well as ultra-fast electric recharging. .
The most visible aspects for customers of this new approach can be seen in the transformation of customer contact points, expanding its offer of energy alternatives, as well as new restaurant, package collection and store services.
Likewise, the announcement that took place yesterday will be accompanied by the progressive implementation of the new brand in all its service stations, which will start this November, at a rate of about 600 stations a year, until reaching 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 Motion
Since the launch of its Positive Motion strategy in March 2022, the company has advanced a large number of projects and has developed an ecosystem of alliances with more than 60 companies from various sectors to promote the different value chains and the implementation of these projects.1
Thus, the company is developing the Andalusian Green Hydrogen Valley, the largest project presented to date in Europe, which in 2030 expects to have a capacity of 2,000 MW. In addition, it has promoted the creation of the first maritime corridor between the ports of Algeciras and Huelva with the port of Rotterdam to link the south and north of Europe and is working on the development of new green methanol and ammonia plants together with its partners.
Likewise, it is developing what will be the largest 2G biofuels 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 diesel. renewable -HVO-. Currently, Moeve already markets these sustainable fuels in seven of the main Spanish airports and in more than 60 ports in the country in which it operates.
The energy company is also advancing with its partners in the development of nearly 30 biomethane plants in Spain and projects to recover waste for the production of this biogas, a substitute for natural gas. Moeve’s network of service stations already has more than 160 ultra-fast charging points in operation and expects to end the year with 400 built, for the development of one of the largest ultra-fast electric charging networks in the whole of Spain and Portugal.
The company is transforming its portfolio of chemical products towards increasingly sustainable solutions. Specifically, it already produces and markets LAB (base for the manufacture of biodegradable detergents) and phenol from raw materials and renewable energy sources. In addition, it is building an isopropyl alcohol (IPA) plant in Huelva, the base for the manufacture of hydroalcoholic gels, which will be the first facility of this type in Spain that uses green hydrogen and is capable of replacing raw materials of fossil origin with materials sustainable.
This year the company has announced the sale of its exploration and production assets in Colombia and Peru, after the divestment carried out in Abu Dhabi in 2023, which represents the sale of about 70% of its oil production assets compared to 2022. In this sense, the company also announced last August 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 who make up the company. But also for our clients, partners, suppliers and other interest groups, to whom we want to contribute a positive impact.”
Likewise, the chief executive assured that “today we launch Moeve as a sign of our next step in the history of the energy sector. We were born with the acronym Compañía Española de Petróleos SA in 1929 to build the first refinery in Spain and lead the first energy transition, and for almost a century Cepsa has played a decisive role as a driver of progress and economic growth in Spain. Today, however, the world needs other types of more sustainable energy solutions. Moeve allows us to face the future with more certainty and confidence, maintaining a clear commitment to our customers: to expand the offer of sustainable and affordable energy solutions, facilitating their decarbonization, and thus advance together in the new energy transition to achieve a better world.”
For its part, the company’s corporate foundation, Moeve Foundation, will continue to promote initiatives aimed at facing the challenges of the ecological transition and improving the quality of life of the most vulnerable groups, focusing on promoting a fair and inclusive transition, within the environmental, scientific-educational and social fields.