TotalEnergies Acquires Finnish Motor Oil Recycler STR Tecoil to Boost Lubricant Industry Efficiency

TotalEnergies, a major French oil and energy company, recently announced its acquisition of STR Tecoilin, a motor oil recycler based in Hamina, Finland. The Finnish company’s technology is considered the most efficient on the market, allowing lubricant factories access to high-quality recycled base oil.

STR Tecoil collects waste oil and regenerates it into usable lubricating oil for vehicles and industrial equipment. The company’s technology allows for the recycling of lubricating oil multiple times, with a yield rate of about 75%. Juha Kokko, CEO of STR Tecoil, mentioned that Total’s interest was piqued by the ongoing green transition. As Total produces significant amounts of lubricants, it wants to be involved in the recycling of base oils.

TotalEnergies has acquired STR Tecoil for an undisclosed amount as part of its expansion efforts in the lubricant industry. In 2022, STR Tecoil generated a profit of 9.1 million euros with a turnover of 54.5 million euros. The company’s turnover in 2023 was 54.6 million euros, with a profit of 3.0 million euros. Kokko expects better results and increased turnover in the current year under Total’s resources and support.

With Total’s backing, STR Tecoil aims to expand its business and grow further in the industry. TotalEnergies is one of the world’s largest oil and energy companies, with substantial operating profits. The acquisition provides opportunities for expansion and investment in the industry under TotalEnergies ownership.

Kokko highlighted the potential for growth with Total’s backing, emphasizing their commitment to enhancing STR Tecoil’s business operations in Hamina. He noted that their products are unmatched in Europe and that they are committed to producing high-quality products using sustainable methods.

The acquisition marks a significant milestone for both companies as they work towards creating a more sustainable future by reducing waste and increasing efficiency in the lubricant industry.

In conclusion, TotalEnergies has acquired Finnish motor oil recycler STR Tecoilin to expand its business interests in the lubricant industry. With its advanced technology and commitment to sustainability, this acquisition represents an important step towards creating a more environmentally friendly future through efficient waste management practices.