18th Aug 2010 07:00
Ambrian Acquires Physical Bio-Fuels Business
LONDON, 18 August 2010 - Ambrian Capital plc ("Ambrian") (AIM: AMBR) announced today that it has acquired the physical bio-fuels business of the Masefield Group ("Masefield Bio-Fuels"), strengthening its physical commodities trading capability.
Masefield Bio-Fuels was established in 2006 and will now trade as Ambrian Energy GmbH. The business supplies a European client base with bio-diesel and other renewable fuels. It will be headed by Bernd Sturmheit who has over 25 years' experience in the European energy market. Prior to joining Masefield in 2005, Bernd worked with Vattenfall and E.ON. A team of 6 traders and logistics managers based in Hamburg and a representative office in Singapore will report to Bernd.
Ambrian Capital intends to inject US$5 million of new capital into Ambrian Energy GmbH for working capital purposes.
The major focus of the business is on Palm Methyl Ester ("PME"), which is produced from palm oil, and it also trades Rapeseed Methyl Ester ("RME"), Soybean Methyl Ester ("SME") and blends thereof. The business will lease 12,200 cubic metres of bio-diesel storage tank capacity in Ghent, Belgium which enable it to supply bio-diesel to meet customer specifications. In 2009, Masefield Bio-Fuels supplied over 100,000 metric tonnes of bio-diesel to European customers with a total value of approximately US$100 million.
One of the particular attractions of Masefield Bio-Fuels to Ambrian is that the business attaches great importance to ecological concerns and sustainability requirements. It is a member of the Roundtable on Sustainable Palm Oil ("RSPO"), an organisation that promotes the growth and use of sustainable palm oil through credible global standards and engagement of stakeholders.
"The acquisition of Masefield's bio-fuels business is an important step in Ambrian's strategy to become a leading global supplier of physical commodities, strengthening both our established commodities trading business and our natural resources franchise. We intend to replicate the success we have had supplying non-ferrous metals by entering selected niche products in the energy sector. Bio-fuels are a particularly attractive product area given their growth potential as an alternative to fossil fuel", said Tom Gaffney, Chief Executive of Ambrian Capital plc.
"The Masefield Bio-Fuels business has been in the top four of the most active PME suppliers to the European bio-diesel market. The skills and market intelligence that Bernd and his team bring provide the nucleus for Ambrian to build a broader business supplying a range of energy products to customers globally", said Justus van der Spuy, Managing Director of Ambrian Energy Limited.
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For further information please contact:
Ambrian Capital plc |
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Tom Gaffney, Chief Executive |
+ 44 (0)20 7634 4700 |
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Fox-Pitt Kelton Limited |
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Simon Law |
+ 44 (0)20 3037 5237 |
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M:Communications |
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Charlotte Kirkham |
+ 44 (0)20 7920 2331 |
Notes to Editors:
AMBRIAN CAPITAL PLC
Ambrian Capital plc (AIM: AMBR) is a specialist investment bank active in Corporate Finance & Equities, Commodities and Principal Investments.
Corporate Finance & Equities
Ambrian Partners Limited is known in the market today for its leading positions in the metals & mining, oil & gas and cleantech sectors. It provides corporate finance advice, equity research, sales and trading and market making services. Ambrian Partners is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority.
Commodities
Ambrian Commodities Limited is a trader and broker specialising in London Metals Exchange cleared base metals futures and options. Ambrian Commodities is an Associate Broker Member of the London Metal Exchange and is authorised and regulated by the Financial Services Authority.
Ambrian Metals Limited is a physical metals merchant with a particular strength in refined copper. Through Ambrian Metals' offices in London and Shanghai and agents in New York, Santiago, São Paulo, Seoul and Tokyo, it sources non-ferrous metals from producers for distribution to an international client base of metals consumers and merchants.
Ambrian Energy Limited is a newly established international energy trading company.
Principal Investments
Ambrian Principal Investments Limited is an investment company which holds Ambrian's principal investment portfolio. It is managed by Ambrian Asset Management Limited, which is authorised and regulated by the Financial Services Authority.
Further information on Ambrian Capital is available on the Company's website: www.ambrian.com
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