Developing the Circular Economy for Lubricants in Europe: TotalEnergies Acquires Tecoil, a Lubricant Used Oil Regeneration Specialist
July 01 2024 - 5:09AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the
acquisition of Tecoil, a Finnish company specialized in the
production of Re-Refined Base Oils (RRBOs), which has the most
efficient used oil regeneration process on the market today.
Tecoil currently operates a production facility of 50,000 tons
of RRBOs per year in Hamina, in eastern Finland. Tecoil has
developed its own circular economy network for collecting used
lubricants in Europe and supplying its plant.
Through a process known as “re-refining”, optimized by Tecoil,
used oils are treated to give them properties comparable to the
best virgin base oils. These high-quality base oils are used to
make lubricants that meet new customer demand for circularity and
sustainability. They significantly reduce the lubricants’ carbon
footprint while delivering the level of performance expected and
approved by many car manufacturers.
“The integration of Tecoil into TotalEnergies will allow us to
accelerate the use of RRBOs in the production of our high-end
lubricants to meet our customers’ growing demand for increasingly
high-performance, environmentally friendly products. We are
delighted to welcome the Tecoil teams and combine their know-how in
base oil processing with TotalEnergies’ recognized expertise in the
production and distribution of lubricants,” says Pierre Duhot,
Senior Vice-President Lubricants and Specialties at
TotalEnergies.
“Joining TotalEnergies is a great satisfaction and an
opportunity to strengthen and develop the activities of Tecoil. It
will allow us to jointly build on our work, knowledge, and
development of the lubricant sector and meet the new challenges and
ambitions of our customers,” said Juha Kokko, CEO of
Tecoil.
TotalEnergies, a major player in the production and
distribution of lubricants
With 42 lubricant production sites worldwide, TotalEnergies is a
partner of choice for players in the automotive, industrial and
marine markets. The Company offers innovative products and
services. In June 2024, it launched its first range of lubricants
made from premium regenerated base oils (Quartz EV3R for passenger
vehicles and Rubia EV3R for trucks).
***
About TotalEnergies
TotalEnergies is a global integrated energy company that
produces and markets energies: oil and biofuels, natural gas and
green gases, renewables and electricity. Our more than 100,000
employees are committed to provide as many people as possible with
energy that is more reliable, more affordable and more sustainable.
Active in about 120 countries, TotalEnergies places sustainability
at the heart of its strategy, its projects and its operations.
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