- Mergers & Acquisitions
Total acquires PitPoint B.V. to accelerate growth in NGV fuel in Europe
Total announced that it is acquiring the Dutch company PitPoint B.V., Europe’s third largest provider of natural gas vehicle (NGV) fuel.
PitPoint B.V. is a market leading integrated independent in alternative fuels with a network of around 100 natural gas fueling stations. The company is also involved in biogas, hydrogen and electric vehicle charging points for road and maritime transport. PitPoint B.V. has been growing strongly in several European countries such as the Netherlands, Belgium and Germany.
The acquisition will enable the French energy company to significantly increase its presence in the natural gas vehicle fuel sector, in particular to serve trucking and professional transport companies, and implement its plans to establish a network of 350 natural gas vehicle fueling stations in Europe by 2022, making Total the leader in natural gas vehicle fuel in Europe. Total currently has a network of 450 natural gas vehicle fueling stations worldwide, including about 100 stations in Europe.
Natural gas fuel is recognized as one of the cleanest fossil fuels. Powertrain technologies using this type of fuel are quieter (50% less noise than diesel engines) and emit fewer particulates and nitrogen oxides (NOx). They are compliant with the latest Euro VI emission standards for trucks.
“Following the acquisition of Lampiris in 2016, this acquisition is part of Total’s strategy to expand its low-carbon businesses, notably through the development of natural gas in which the Group is a global leader. Unlocking gas demand with new usages for transport is central to our integrated strategy of expanding along the natural gas value chain,” said Patrick Pouyanné, chairman and CEO of Total. “There is strong development potential for natural gas vehicle fuel in the transport sector. Our aim is to combine PitPoint’s technological and commercial expertise acquired over the last 10 years with Total’s strong retail marketing network and client portfolio. PitPoint will thus be central to the Marketing & Services segment’s ambitions in the natural gas vehicle fuel sector in Europe, in line with the aim of offering our customers clean energy solutions.”
The terms and conditions of PitPoint B.V. customers’ and employees’ contracts will remain unchanged.