Launch of Advario: Oiltanking takes next step in transformation program
May 5, 2022
Today, Advario, a carve-out of Oiltanking, was launched to take on a frontrunner role in the energy transition, by ensuring safe and reliable storage infrastructure for sustainable liquids. The launch represents the next step in the transformation program announced by Oiltanking in November.
Advario’s strategy is focused on growing its business across three segments: chemicals, gas and increasingly new energies. Advario aims to double its business by the end of the decade. Its strong commitment to sustainability will support customers and partners in reducing their carbon footprint, whilst materially growing the share of sustainable revenues. At launch, Advario has announced to commit to achieving net zero operations by 2040, latest.
Advario builds on Oiltanking’s 50 years of operational excellence and tank storage expertise. Oiltanking's current operations in Belgium, China, Finland, Middle East, Singapore, and the United States will be transferred to Advario, which will be headquartered in Rotterdam. Bas Verkooijen will assume the role of CEO of Advario, supported by a team of 1,200 employees worldwide.
Oiltanking’s CEO Matti Lievonen says: “Advario will be a leading global player in the storage industry, with a focused growth strategy on chemicals, gas and new energy and a strong commitment to embed ESG and sustainability across its entire operations. Bas Verkooijen, CEO of Advario, and his team of highly skilled storage experts are well positioned to take on a frontrunner role in the energy transition by ensuring safe and reliable storage infrastructure for sustainable liquids.”
For more information on Advario, please see the Advario press release or visit the Advario website.