Cepsa becomes Moevea rebranding of the company which symbolizes its commitment to becoming one of the leaders of the European energy transition and leave behind its past more closely linked to oil.
As part of its “Positive Motion” strategy for 2030, this change also meets its objective of accelerate your decarbonization and that of your customersthrough an investment of up to 8 billion euros, of which more than 60% will be allocated to sustainable activities, such as the production of green hydrogen, second generation (2G) biofuels and sustainable chemistry, as well as electric charging ultra-fast.
Newborn Moeve CEO Maarten Wetselaar opined that “Today is a historic day for the family of more than 11,000 professionals who make up the company“.
“But also for our customers, partners, suppliers and other interest groups, to whom we want to make a positive impact. I am delighted to announce the change of a great brand, Cepsa, which has been with us for over 90 years , to tell you to the world that we are transforming into a different kind of organization, Moeve, in which most of its profits will come from sustainable activities by the end of this decade,” he added. about.
Wetselaar stressed that this new brand reflects the group’s “firm commitment” to “being a reference for the energy transition in Europe, particularly in the field of green molecules, such as green hydrogen and 2G biofuels, and in mobility ultra-fast electric”. .
Born in 1929 with the founding of the country’s first private oil company, Compañía Española de Petróleos, SA (Cepsa), the energy company, with this change, takes a decisive step to turn its back on this traditional union with oil .
“Today, however, the world needs other types of more sustainable energy solutions. Moeve allows us to face the future with greater certainty and confidence, maintaining a clear commitment to our customers: expanding the offers sustainable and affordable energy solutions, by facilitating their decarbonization, and thus move forward together in the new energy transition to achieve a better world,” said the energy manager.
In recent times, the group has taken steps in this direction, such as with the sale this year of its exploration and production assets in Colombia and Peru, after the sale carried out in Abu Dhabi in 2023, which involves the sale of approximately 70% of its oil production assets compared to 2022. It also announced last August the sale of its butane, propane and autogas subsidiary (Gasib).
Strategic shift
Since the launch of its new strategy in March 2022, the company has advanced a large number of projects and developed an ecosystem of alliances with more than 60 companies from various sectors to promote different value chains and the implementation of these projects. Likewise, the company is developing the Andalusian Green Hydrogen Valley, the largest project presented to date in Europe, which in 2030 is expected to reach a capacity of 2,000 megawatts (MW).
In addition, promoted the creation of the first maritime corridor between the ports of Algeciras and Huelva with the port of Rotterdam to connect Southern and Northern Europe and is working with its partners to develop new green methanol and ammonia plants.
Likewise, it is developing what will be the largest 2G biofuel 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 -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 the development of nearly 30 biomethane plants in Spain and waste recovery projects for the production of this biogas, a substitute for natural gas.
Likewise, Moeve’s service station network already has more than 160 ultra-fast charging stations operational and plans to end the year with 400 units built, for the development of one of the largest ultra-fast electric charging networks in Spain and Portugal as a whole.
Likewise, the company is transforming its chemical portfolio towards increasingly sustainable solutions. Concretely, 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, a base for manufacturing hydroalcoholic gels, which will be the first facility of this type in Spain using green hydrogen and capable of replacing original raw materials. fossil. with sustainable materials.
These advances have also enabled the company to position itself among the benchmark positions in its sector in the main international sustainable development (ESG) rankings.
For its part, the company’s corporate foundation, Moeve Foundation, will continue to promote initiatives aimed at meeting the challenges of the ecological transition and improving the quality of life of the most vulnerable groups, with a focus on promoting a just and inclusive transition, within the framework of environmental protection. , scientific, educational and social.
“Progressive implementation of the new brand”
The company said the new brand, developed in collaboration with the Landor agency, reflects “movement, optimism and evolution through different colors, textures and dimensions, with a design designed for the digital world.”
The announcement made today will be accompanied by the gradual implementation of the new brand in all its service stations, which will begin in November, at a rate of approximately 600 stations per year, until reaching more than 1 800 that the company has in Spain and Portugal. Likewise, the company will launch a new global advertising campaign in the coming days.
