African Energy Trader Mocoh Initiates Biofuels Arm for Market Expansion
Energy trader Mocoh SA, with a focus on Africa, has established a new biofuels trading arm in collaboration with Clear Sustainable Energy Trading AG, targeting the increasing demand for sustainable fuel in shipping, aviation, and power generation sectors. The newly formed trading firm, Mocoh Sustainable Energy Trading SA, is set to include up to 5 traders and will offer a variety of biofuels, including those produced by Mocoh, starting with a plant in Nigeria.
Mocoh’s CEO, Guy Hacking, highlighted the strategic move, stating, “This exciting new development is firmly in line with Mocoh’s strategy to diversify into lower carbon commodities. We have been building our capacity to collect and process Africa origin bio feedstocks over the last few years, and so this alliance is a natural next step.”
With 25 years of experience trading crude oil and refined products, Mocoh, headquartered in Geneva, is expanding its operations into biofuels. Teaming up with Lagos-based Bioscape, the company plans to commence biofuel production from cashew nut waste in the current quarter, targeting an annual output of around 5,000 tonnes.
The newly established trading arm is not limited to Africa, as it plans to have a presence in Europe and aims for further expansion into other African countries. Additionally, the focus extends beyond biofuels produced from cashew nut waste, with plans to explore other agricultural and industrial waste streams that can be converted into fuel.
Sebastiaan Phielix, CEO of Clear Sustainable Energy Trading AG, expressed enthusiasm about the collaboration, stating, “We are thrilled to combine the strengths and reputation of both companies. MSET will provide customers with efficient and competitive access to the global biofuels/feedstocks market, with a strong focus on African and European origin products.”
The initiative reflects a strategic alignment with the global shift towards sustainable and lower-carbon alternatives, particularly in the energy trading sector. As the demand for biofuels continues to rise, Mocoh’s diversification into this market positions the company to play a significant role in meeting the evolving needs of the energy industry.
