TotalEnergies Expands Sustainable Lubricant Production with Tecoil Acquisition

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TotalEnergies Expands Sustainable Lubricant Production with Tecoil Acquisition

(IN BRIEF) TotalEnergies has acquired Finnish company Tecoil, a leader in producing Re-Refined Base Oils (RRBOs) through an efficient used oil regeneration process. Tecoil operates a 50,000-ton RRBO facility in Finland and has developed a circular economy network for collecting used lubricants in Europe. This acquisition will enable TotalEnergies to enhance its production of high-performance, environmentally friendly lubricants. Both companies aim to leverage their expertise to meet growing customer demand for sustainable products. TotalEnergies continues to innovate, having launched its first range of lubricants from regenerated base oils in June 2024.

(PRESS RELEASE) PARIS, 1-Jul-2024 — /EuropaWire/ — TotalEnergies (EPA:TTE), a global multi-energy company with over 100,000 employees and presence in more than 130 countries as well as the world’s 3rd-largest low-carbon LNG company, announces that it has acquired Tecoil, a Finnish company renowned for producing Re-Refined Base Oils (RRBOs) using the most efficient used oil regeneration process currently available. Tecoil operates a facility in Hamina, eastern Finland, capable of producing 50,000 tons of RRBOs annually. The company has established a circular economy network in Europe for collecting used lubricants and supplying its plant.

Tecoil’s optimized re-refining process treats used oils, endowing them with properties comparable to the best virgin base oils. These high-quality base oils are used in lubricants that meet the growing customer demand for circularity and sustainability, significantly reducing the carbon footprint while delivering top-notch performance approved by many car manufacturers.

Pierre Duhot, Senior Vice-President Lubricants and Specialties at TotalEnergies, expressed enthusiasm about the acquisition, stating that integrating Tecoil will enable TotalEnergies to accelerate the use of RRBOs in producing high-end lubricants. This move aims to meet the increasing demand for high-performance, environmentally friendly products. Duhot welcomed the Tecoil team, highlighting the synergy between Tecoil’s expertise in base oil processing and TotalEnergies’ experience in lubricant production and distribution.

Juha Kokko, CEO of Tecoil, echoed this sentiment, noting that joining TotalEnergies represents a significant opportunity to enhance and expand Tecoil’s operations. Kokko emphasized that the collaboration would allow both companies to build on their existing work and knowledge in the lubricant sector, addressing new challenges and meeting customer ambitions.

TotalEnergies, with 42 lubricant production sites worldwide, is a key player in the automotive, industrial, and marine markets. The company launched its first range of lubricants made from premium regenerated base oils (Quartz EV3R for passenger vehicles and Rubia EV3R for trucks) in June 2024, showcasing its commitment to innovation and sustainability in its product offerings.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

SOURCE: TotalEnergies

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