Mercuria and N+P Announce Partnership for Development of New Alternative Fuels

Today, Mercuria Energy Trading (“Mercuria”) and N+P Group B.V. (“N+P”) announced a strategic partnership that will inject significant growth capital in N+P and allow for the development of new alternative fuels production facilities. As a part of the deal, Mercuria is acquiring a strategic equity stake in N+P. The Jennissen Family will continue to hold the majority of the shares in N+P, while allowing for Mercuria’s stake to be increased in the near-term.

The deal is aligned with N+P and Mercuria’s larger corporate strategy of focusing on the global energy transition, which includes investing in high quality alternative fuels produced from non-recyclable waste streams.

“As we continue to invest in the global energy transition, we see our partnership with N+P as a way to provide cost-competitive decarbonization solutions to specific industrial sectors,” said Jean-François Steels, Vice President of Energy Transition at Mercuria. “For nearly three decades, N+P has demonstrated its ability to innovate and develop new alternative fuels. Its deep understanding of the waste and recycling industries have been key in N+P’s success so far, and this partnership will help expand and grow its operations.”

Founded in 1993, N+P has focused on decarbonizing the production processes of large energy-consuming industries globally. N+P uses non-recyclable waste fractions that would otherwise be landfilled or incinerated as feedstock to produce alternative fuels. By switching to fuels produced by N+P, these industries can not only reduce their costs prices, but also benefit from significant CO2 savings and contribute to landfill diversion. It also provides various industries with new incentives on how to best reduce their carbon footprint.

“We have been working very hard in the last few months, to get the agreements with Mercuria in place,” commented Stijn Jennissen, Chief Commercial Office at N+P. “We are happy and proud that we have managed to find a partner like Mercuria, who shares our ambitious goal to grow and contribute to the develop of our markets. We are looking forward to jointly realizing these ambitious targets in the coming years.”

White & Case LLP, Brachers LLP and Deloitte acted as advisors to N+P, Freshfields Bruckhaus Deringer has acted as advisor to Mercuria. All advisors involved in the deal have delivered fantastic work to make the transaction possible in a short timeframe. “Our role advising N+P Group on this important transaction is a great example of how White & Case supports fast growth companies as they progress their ambitious growth targets.” Ian Bagshaw, Global Co-Head of Private Equity of White & Case.

Over the next five years, N+P intends to significantly increase the number of production plants, including global expansion catalysed via synergies with Mercuria’s global trading platform. N+P expects to announce the development of the first new plants in the coming months. In parallel to a rapid expansion of alternative fuel production facilities, N+P is also aiming to grow the legacy business of bridging waste to value: waste to energy feedstock trading and development and supply of alternative raw materials, in which the Jennissen family has almost 30 years of experience.

“Together with N+P’s decades of experience in waste trading and optimisation, and our market access and risk management expertise, we believe this partnership will positively contribute to the global energy transition,” said David Haughie, Managing Director of Principal Investments at Mercuria. “We look forward to working with the N+P team to further deliver capital support and optimisation as we collaborate to grow and expand the business.”