Total Acquires PitPoint B.V.
Total announced its acquisition of market-leading and third largest provider of natural gas vehicle fuel, PitPoint B.V. This Dutch company posesses around 100 natural gas fueling stations. By innovating and investing in compressed natural gas (CNG), liquefied natural gas (LNG), biogas, hydrogen and electric vehicle charging points for road and maritime transport, PitPoint B.V. actively contributes to the development of stations selling alternative fuels in Europe. Their mission is to create a shift towards the use of clean fuels for clean transportation by 2030.
This acquisition gives Total an increased presence in the natural gas vehicle fuel sector, especially dedicated to the trucking and professional transport companies. Moreover, it is part of the ongoing effort by Total to expand its low-carbon businesses with the mission to establish 350 natural gas vehicle fueling stations in Europe by 2022.
"Total announced its acquisition of market-leading and third largest provider of natural gas vehicle fuel, PitPoint B.V."
Chairman and Chief Executive Officer of Total, Patrick Pouyanné enhanced the strong development potential for natural gas vehicle fuel, one of the cleanest fossil fuels today, in the transport sector: "Our aim is to combine PitPoint's technological and commercial expertise acquired over the last ten years with Total's strong retail marketing network and client portfolio."
Total already has a network of 450 natural gas vehicle stations worldwide and intends to fast-track the development to meet the needs of its customers. The priority is to leverage the existing network of 9,000 service stations and focus on markets where Total is already active in natural gas vehicle fuel.
The acquisition will not affect PitPoint B.V.'s customers and employees or their contracts.
For more information, visit Total's website.