Cepsa, the oil company controlled by the emirate of Abu Dhabi, announced on Wednesday that it was abandoning the brand it had used since its creation 95 years ago to become Moeve and thus illustrating its renewable orientation.
The company was founded as Compañía Española de Petróleos SA in September 1929 as the first private company in the then emerging Spanish hydrocarbon market. More than 35,000 days later, it became Moeve “thanks to the progress of its transformation, resulting from the strategy Positive movementwhich it has been implementing for two years to become the benchmark in sustainable energy and mobility.
“I am delighted to communicate the change of a great brand, Cepsa, which has been with us for over 90 years, to tell the world that we are transforming into a different type of organization, Moeve, in which most of its profits come from sustainable activities at the end of this decade,” said Moeve CEO, Dutchman Maarten Wetselaar, in a press release.
“Taking into account these advances and those that we will make in the future, we present a new brand that reflects our firm commitment to being a reference for the energy transition in Europe, particularly in the field of green hydrogen, biofuels 2G and ultra-fast electric mobility. “, said the first manager of the company, which last week conditioned the future of its investment of 3 billion euros in the so-called Andalusian Hydrogen Valley to the removal or modification of the extraordinary tax on energy companies, which the government considers virtually lost due to lack of parliamentary support.
According to Cepsa, this change also meets its objective of accelerating its decarbonization and that of its customers, through 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 chemicals, as well as ultra-fast electric charging.
Since the launch of its Positive Motion 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 implementation of these projects.
The company is developing the Andalusian Hydrogen Green Valley, the largest project presented to date in Europe, which is expected to reach a capacity of 2,000 MW in 2030. In addition, it promoted the creation of the first maritime corridor between the ports of Algeciras and Huelva with the port of Rotterdam to connect the south and north of Europe and is working on the development of new green methanol and ammonia with its partners. .
Likewise, it is developing what will be the largest 2G biofuel complex in southern Europe, in Palos de la Frontera (Huelva), with an annual production capacity of one million tonnes 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. With other partners, it is also developing around thirty biomethane plants in Spain and waste recovery projects for the production of this biogas, a substitute for natural gas.
The Moeve service station network already has more than 160 ultra-fast charging points in operation and plans to end the year with 400 built, for the development of “one of the largest ultra-fast electric charging networks in the world.” ‘Spain and Portugal as a whole’. » . At the same time, it is leading “an ambitious transformation of customer contact points, expanding its offering of energy alternatives, as well as new catering, parcel collection and store services”.
The company already produces and markets LAB (basis 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.
This year, it announced the sale of its exploration and production assets in Colombia and Peru, following the divestment carried out in Abu Dhabi in 2023, which represents the sale of approximately 70% of its oil production assets compared to to 2022. In August, it announced the sale of its butane, propane and auto gas subsidiary (Gasib).
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 new brand will be gradually implemented in all its service stations, in a process that will begin in November, at a rate of approximately 600 stations per year, until reaching the more than 1,800 that the company has in Spain and Portugal . Moeve will launch a new global advertising campaign in the coming days.
