InfraVia Capital Partners, the France-based equity firm and owner of Spanish-headquartered Molgas Energy, has become the strategic partners of Dutch LNG bunkering operator Titan Energy Holdings with a capital injection in return for a combined minority stake.
Titan Energy, the Amsterdam-based parent company of Titan Clean Fuels, closed a successful funding round for a 45 percent equity stake with further follow-on rights for Molgas.
The value of the total InfraVia-Molgas-Titan transaction was not disclosed.
Molgas itself was acquired three years ago by InfraVia and is a leader in small-scale downstream LNG and the supply of renewable gas made from waste in Western Europe.
Molgas has been active for over 20 years in providing LNG to industrial, cogeneration, vehicle and maritime customers.
LNG supply fleet
Titan for its part owns and operates a diverse fleet of small-scale LNG and liquid bio-methane supply vessels and barges deployed globally.
The Dutch operator has built up experience of ship-to-ship operations across Northern Europe, the Mediterranean, Southeast Asia, the Cape Verde Islands and the Caribbean.
Titan is also part of a consortium constructing the world’s largest bio-methane liquefaction plant in the Port of Amsterdam, which will produce over 100,000 tonnes of per annum.
“We have been considering a growth partner for some time and believe we have found the perfect partner in InfraVia-Molgas investors,” said Niels den Nijs, Chief Executive of Titan.
“Titan will retain independence, while benefiting from the complementary service offering of Molgas. Legislation and public scrutiny are stimulating the demand for low and zero-emissions fuels with growing momentum,” added Den Nijs.
Capital boost
“The new capital will allow us to accelerate our growth plans and focus all our efforts on the maritime sector exactly at the time of fast-growing market,” the CEO stated.
Fernando Sarasola, Executive Chairman of Molgas, said he was delighted to team up with Titan, which he recognized as the leading independent company in the marine bunkering field.
“Our portfolio of complementary offerings will establish the group as the go-to partner for energy transition LNG and alternative fuels for off-grid industrials, trucking and maritime businesses across Europe,” Sarasola added.
Athanasios Zoulovits, a Partner at InfraVia Capital, said the “critical need for LNG” as a transition fuel for the industrial, mobility and maritime sectors and its efficient pathway to further decarbonisation was becoming increasingly clear.
“Our acquisition of Molgas in 2020 enabled us to get started in this space and Molgas has grown at a fast pace to become a leader in onshore solutions in Western Europe,” stated Zoulovits.
