Amsterdam-based ABN AMRO Sustainable Impact Fund (ABN AMRO SIF) and Dutch sustainable investment provider Meewind have sold their stake in OG Clean Fuels (OG) to London’s Pioneer Point Partners (Pioneer).
Thijs Nijland of ABN AMRO Sustainable Impact Fund, says, “Our journey with OG Clean Fuels began with the ambition to establish a leading player in Northwest Europe. Not only has the company achieved this goal, it has also intensified its focus on the heavy-duty vehicle segment, where it can have the greatest impact.”
The sale will generate a book gain for ABN AMRO.
Advancing clean mobility in Europe
OG, founded in 2008, began as a biomethane supplier for passenger cars and vans in the Netherlands. It has since shifted focus to heavy-duty vehicles, operating nearly 30 on-depot bio-CNG stations under long-term contracts with customers such as DHL and EDEKA in Germany and major bus companies in Sweden.
Currently, the company operates over 300 filling stations across Germany, the Netherlands, Sweden, and Italy, offering bio-CNG, bio-LNG, electric vehicle charging, hydrogen, and liquid biofuels.
The acquisition deal allows OG to accelerate its growth in decarbonising heavy-duty vehicle transport.
Pioneer Point Partners, a sustainable infrastructure investor with over €1.8B committed across 20 investments, has now become OG’s majority shareholder. This is Pioneer’s second investment in its second institutional fund.
Over the next five years, the London-based shareholder aims for OG to invest over €150M to advance its role as a multi-fuel decarbonisation solutions provider for logistics, transport companies, and heavy goods fleet operators.
A new phase with Pioneer
OG founder and CEO Marcel Borger and COO Jeroen Meiberg will remain involved as shareholders as the company moves into its next phase with Pioneer Point Partners.
With a customer base including DHL, Edeka, Transgourmet, Amazon, and Postnord, OG and Pioneer plan to further develop sustainable fuel solutions for heavy-duty transport in Europe.
OG also collaborates with vehicle manufacturers such as Iveco, Scania, and Volvo to support the transition to sustainable mobility.
Sam Abboud, one of Pioneer’s Managing Partners, says, “We are excited to work with the management team to further expand OG’s network of clean fuel stations in Europe. This is the first important step in our ambition to develop OG into the leading platform for green road transport infrastructure in Europe.”
Founder Borger adds, “This investor fits perfectly with our culture and goals, as well as our ambition. We love not only the goal but also the journey to get there.”
OG’s growth under ABN AMRO SIF
In 2018, ABN AMRO SIF became a majority shareholder in OG alongside OG’s management and Meewind, providing support for expansion and international growth.
With SIF’s backing and growth capital investments, OG executed strategic acquisitions and expanded operations. During the investment period, OG grew from a Dutch operation with 14 employees to an international company with about 70 employees.
Marcel Borger, CEO and founder of OG, says, “ABN AMRO SIF’s entry in December 2018 marked the beginning of OG Clean Fuels’ accelerated growth across Europe, driving positive impact on clean mobility. Through this collaboration, we have become a leading player in the clean fuels sector.”
“Over the past six years, ABN AMRO SIF has been a true partner, standing alongside us and prioritising the company’s interests. Their support has played a key role in our expansion beyond the Netherlands into Germany, Sweden and Italy.”
Brief about Meewind
Meewind is an investment fund focused on supporting sustainable progress. For 17 years, it has invested in projects and companies that promote cleaner energy, lower CO2 emissions, and smarter sustainable solutions.
The firm enables individuals to invest in initiatives that green industries, modernise energy grids, and reduce reliance on fossil fuels in transport and other sectors.
During Meewind’s eight years as a shareholder, OG expanded from a Dutch biogas company with 65 stations to a European clean fuel supplier with over 325 stations in four countries. The company now offers Bio-CNG, Bio-LNG, hydrogen, HVO 100, and electric charging. Growth was driven by expansion and acquisitions, including 75 stations from EWE and 41 from Fordonsgas.
Speaking about OG, Chrisbert van Kooten, GM at Meewind, says, “We saw the potential of OG Clean Fuels and supported the management in expanding their network and fuel portfolio. With this sale, Meewind’s role is over; this frontrunner of the energy transition is ready for the next step.”
Marcel Borger, founder and CEO OG, adds, “Trust is the basis for success. Meewind has not only supported us financially but also provided strategic guidance. Thanks to their involvement, we were able to realise our growth ambitions.”
Meewind will reinvest the released funds into new sustainable projects.
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