Spanish energy major Cepsa has changed its name to Moeve, marking a milestone in the company’s ongoing transformation under the 2030 Positive Motion strategy, which aims to position the company as a leader in sustainable energy and mobility.
The change is said to align with the company’s objective to accelerate its own decarbonization through an €8 billion investment strategy of which over 60% will be dedicated to sustainable businesses, including the production of green hydrogen, second-generation (2G) biofuels, sustainable chemical products and ultra-fast electric charging.
Maarten Wetselaar, CEO of Moeve, stated: “I’m thrilled to share that, after more than 90 years as Cepsa, we are evolving into something new – Moeve – a brand committed to a sustainable future, with the majority of our profits set to come from sustainable activities by the end of this decade. Over the past two years, this renowned and collaborative company has accelerated its transformation, achieving key milestones in its 2030 Positive Motion strategy. Today, we are proud to introduce a brand that reflects our commitment to leading Europe’s energy transition, particularly in green molecule production—such as green hydrogen and second-generation biofuels—and ultra-fast electric mobility.”
Spanish major noted that since launching its Positive Motion strategy in March 2022, the company has made progress on numerous projects and built an ecosystem of alliances with over 60 companies across various sectors to drive diverse value chains and bring these projects to life.
The company is developing the Andalusian Green Hydrogen Valley, claimed to be the largest project unveiled to date in Europe, which will have a capacity of 2000 MW in 2030. Furthermore, it is working on the first maritime corridor between the ports of Algeciras, Huelva and Rotterdam to connect southern and northern Europe and it is involved in the development of new green methanol and ammonia plants with its partners.
READ MORE Cepsa picks PEM technology supplier for its Spanish green hydrogen project Yara partners with CEPSA on 1st green H2 corridor between Algeciras and Rotterdam Additionally, Moeve is developing a large-scale 2G biofuels plant in southern Europe, located in Palos de la Frontera (Huelva). This plant is expected to have an annual production capacity of 1 million tonnes of sustainable aviation fuel (SAF) and renewable diesel (HVO).
The energy company is also progressing with its partners on the development of almost 30 biomethane plants in Spain and projects to upcycle waste for the production of this biogas, a replacement for natural gas.