Cepsa announces the launch of its new brand Moevederived from the strategy Positive movementwhich has been running for two years transform into a sustainable energy and mobility company. A new brand that wants to reflect its dedication energy transition in Europe, especially in the field of green hydrogenloose bioflammable substances 2G and the ultra-fast electric charging and say goodbye oilyou will invest for this 8,000 million euros.
Cepsa changes name and is now called Moeve. With this brand change, the Spanish company wants to become one of the benchmarks in the world European energy transition and leaves behind his most closely linked past oilas announced this Wednesday.
Within its ‘Positive Motion’ strategy for 2030, it wants to accelerate its decarbonization and that of its customers through a investment of up to 8,000 million euros. Of this amount, more than 60% will be spent on sustainable companies such as the production of green hydrogen, second generation biofuels j sustainable chemicalsas well as the ultra-fast electric charging.
Will Moeve be a benchmark for the energy transition in Europe?
Moeve wants to be a reference for the energy transition in Europeespecially in the field of green moleculeslike the green hydrogen and the second generation biofuelsas well as in the ultra-fast electric charging. The company was born in 1929 as the country’s first private oil company, Compañía Española de Petróleos, SA (Cepsa).
Now they are trying to take this change a step further breaking away from the traditional union with oil. However, today the world needs other types of energy solutions that are more sustainable Moeve wants to expand the offering sustainable energy solutionsfacilitating your decarbonizationand move forward into the new energy transition.
The group has recently taken steps in this direction, such as with the sale this year of its exploration and production assets Colombia and Peru, all this after the divestment in Abu Dhabi in 2023, which represents the sale of approximately 70% of its oil production assets compared to 2022. Last August, it also announced the sale of its butane, propane and autogas subsidiary (Gasib).
Strategic shift to renewable energy sources
Since the launch of its new strategy in March 2022, the company has developed alliances with more than 60 companies from different sectors to promote different value chains and the implementation of these projects. The company develops the Andalusian Green Hydrogen Valley, the largest project presented to date in Europe, which expects a capacity of 2,000 megawatts in 2030.
It also has the creation of the first maritime corridor between the ports of Algeciras and Huelva with the port of Rotterdam to connect Southern and Northern Europe. Likewise, it works on the development of new green methanol and ammonia plants together with its partners, and develops what the future will be largest 2G biofuel complex in Southern Europe in Palos de la FronteraHuelva.
At this moment, Moeve already sells this one sustainable fuels in seven of the main Spanish airports and in more than 60 ports in the country in which it operates. The Moeve gas station network has more than 160 operational ultra-fast charging points and hopes to end the year with 400 units built to achieve that developing one of the largest ultra-fast electric charging networks in Spain and Portugal as a whole.