Air Liquide announces the signature of an agreement for the acquisition of FordonsGas, a company that distributes CBG (Compressed Biogas) for the Swedish transportation market.
Founded in 1998, FordonsGas owns and operates more than 40 CBG stations in Sweden, making it one of the largest distribution networks for this alternative fuel in that country. The company employs 32 people and currently generates annual revenue of around 20 million euros. The CBG filling stations operated by FordonsGas enable the owners and users of natural gas vehicles (NGVs) - taxis, corporate vehicle fleets, buses, and passenger cars - to acquire fuel that is more environmentally friendly. Nearly 70% is produced from renewable energies.
Sweden is one of Europe’s key markets in the development of sustainable mobility based on biogas. In 2009, the Swedish government rolled out an Energy and Climate policy with the objectives of reducing greenhouse gas emissions by 40% between now and 2020 and eliminating the use of fossil fuels in the transportation sector entirely by 2030. Today, there are nearly 50,000 natural gas vehicles (NGVs) on the road in Sweden that run on Compressed Natural Gas, a number supportive of the rapid development of Compressed Biogas (CBG) as a fuel source.
In Sweden, Air Liquide has supplied its gas liquefaction technologies to one of the world’s largest facilities for biogas production. This acquisition will thus complement the Group’s positioning in the biogas market. Biogas is an alternative to fossil fuels which, like hydrogen, offers a response to energy and environmental challenges.
Francois Darchis, member of the Air Liquide Executive Committee supervising Innovation, commented:
"This acquisition will constitute a major step for Air Liquide in the sustainable mobility sector. It will allow the Group to be present across the biogas value chain, from the production of biomethane from organic and farm waste to purification, liquefaction and distribution. For Air Liquide, it will also be an opportunity to better understand the new consumer usages of sustainable mobility, today through the distribution of biogas and tomorrow through the distribution of hydrogen energy.”
This acquisition should be completed by the end of this year.