IGES and FinCo cooperate on a new clean transportation fuel from non-recyclable plastics


IGES and FinCo cooperate on a new clean transportation fuel from non-recyclable plastics

Amsterdam / Dordrecht, February 14, 2019

Integrated Green Energy Solutions (IGES) and FinCo Fuel Nederland B.V. (FinCo) signed a 5-year agreement for the purchase and offtake of all liquid fuels from non-recyclable plastics that IGES will produce at their new Amsterdam production facility which is currently under construction. The new plant will start production in the summer of 2019. FinCo will distribute the fuels (10ppm ULSD among others) via her own distribution network. The main markets that will be supplied are the marine and transportation sector. The products comply with the latest quality requirements and play an important role in the transition from traditional hydrocarbon fuels to new low carbon fuels. “These waste-to-plastic fuels lead to a significant reduction of CO2 emissions which reflects the ambition of both companies”, said Bart-Willem ten Cate, responsible for biofuels and renewables at FinCo Fuel Group.

FinCo Fuel Group is active in the downstream oil market in primarily Northwest Europe. In the Netherlands FinCo’s core business is wholesale, retail, bunkering and direct sales of mineral oils and biofuels under the name FinCo Fuel Nederland B.V. FinCo is fully committed to increased usage of cleaner fuels and is dedicated to play an important role in reducing CO2 through a portfolio of alternative fuels. Jan-Willem van der Velden and Peter Nohlmans are the founders and shareholders of FinCo Fuel Group and form the Board of Directors of the company together with Pieter Peeters and Hans Wouda. The Group has offices in Dordrecht, Hamburg and Zug.

Integrated Green Energy Solutions is a public listed company which is traded on the Australian Stock Exchange. The company is active in the development of technology and production systems that have a positive environmental effect specifically related to a solution for non-recyclable plastic waste. IGES is currently constructing a plant in Amsterdam which will turn 35.000 metric tons of non-recyclable plastic into 35 million liters of transportation fuel per year. The cleaner fuel prevents a yearly emission of 57.000 metric tons CO2. IGES has concrete plans to increase the production capacity by four times. The management of IGES Amsterdam is formed by co-shareholders and entrepreneurs Paul Harkema and Floris Geeris.

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For inquiries and information about FinCo or IGES please contact
Esterella Voorwinde – evoorwinde@fincofuel.com or + 31 88 021 5129