Varo Energy: Investing in Sustainable Energy for Net Zero Emissions by 2040
Varo Energy, a Swiss oil refinery operator backed by Carlyle Group and Vitol, is exploring a range of energy sources to achieve its ambitious climate goals. The company’s top priority is safety, whether it’s in the production platform, refinery or office buildings.
Varo Energy currently operates the only oil refinery in Switzerland and supplies a significant portion of the country’s petroleum needs. However, the company is investing in projects to decarbonize its production processes and reduce CO2 emissions. This includes exploring alternative energy sources like green hydrogen, biowaste, and used cooking oil.
One of Varo Energy’s key initiatives is its ground-mounted solar system, which supplies a large portion of their electricity needs. The company is also looking to expand its renewable energy projects and has plans to build a hydrogen plant in Germany and explore options for green hydrogen production in other European countries.
In addition to renewable energy sources, Varo Energy is committed to making investments in sustainable fuel production technologies such as biofuels. They are taking a pragmatic approach by focusing on areas like e-mobility, hydrogen production and sustainable aviation fuel while adapting their operations to meet customer needs and navigate the complexities of the energy transition.
As Varo Energy looks towards the future, they are focused on two main business engines: traditional fossil fuel operations and investments in alternative energy sources. With this approach, they aim to reach net zero emissions by 2040 while continuing to prioritize safety throughout all aspects of their operations.
