Future fuels investment

A newly formed global energy storage company has announced its first major investment at the heart of Port of Rotterdam.

Global Energy Storage (GES) has acquired part of the assets of Stargate Terminal from Gunvor Group and will develop over 20 hectares of vacant land into storage solutions for low carbon products to facilitate the energy transition.

”Our vision is to take an existing oil terminal and develop it into a state-of-the-art low-carbon products terminal,” said Peter Vucins, CEO.

“This development is the first stage of our plans for an international network of infrastructure, serving the energy transition needs of our customers.”

Fuel transition

The investment deal has been formally approved by the Port of Rotterdam Authority.

The site includes a significant waterfront with deep water access, brownfield development opportunities and potential greenfield development sites.

GES’ ambitious plans include the development of a new multi-purpose seagoing jetty, as well as developing infrastructure for the consolidation of biofuel storage, storage for renewable fuels, green and blue hydrogen and hydrogen carriers such as ammonia.

Mr Vucins said: “This project aims to become one of the largest low-carbon developments at a world-class industrial hub, with the potential to significantly reduce the carbon footprint of future business in the Port of Rotterdam.”

Alongside a new jetty that we aim to develop and low-carbon commodity infrastructure, we are also looking to become part of the logistics chain needed to import blue and green hydrogen. I hope this gives a glimpse of the size of our ambitions.”

GES was set up by the management team from Global Petro Storage (GPS), the leading operator and developer of energy and chemical assets. Its backed by Bluewater, the specialist international private equity firm focused on the middle-market energy sector.

Gunvor Group will be a long-term partner of GES at the Port of Rotterdam in line with its strategy to support the advancement of Energy Transition initiatives at what it calls its ”key asset locations”.

The company recently announced that its Rotterdam facility will supply to Dow cracker-ready feedstock, which will be used to produce circular plastics.