As part of the realignment of the Marquard & Bahls Group and active portfolio management, the biogas activities of Marquard & Bahls under the name “Mabagas” will in future be consolidated in IOT Infrastructure and Energy Services Limited (IOT). For this purpose, IOT will acquire the shares of Mabagas GmbH & Co. KG (Mabagas) in the joint venture of IOT Mabagas Pvt. Ltd. (IOT M) and thus becomes 100% owner of the biogas plant in Namakkal, South India.
The biogas plant has been in operation since December 2012. Since then, electricity production has been continuously increased and "AYSWARAM", the company's own organic fertilizer brand, has been successfully established on the market. With the takeover of the shares by IOT, the next technical innovation is now being established: In future, the biogas produced will no longer be used for electricity production but will be processed into natural gas and marketed as CBG (Compressed Bio Gas). A Memorandum of Understanding between INDIAN OIL CORPORATION and IOT has already been signed for this purpose.
Mabagas will cease its activities in April 2019 with the sale of the shares and the completion of the necessary steps. Frank Riering, the current Managing Director of Mabagas, will leave the company by mutual agreement.
Frank Riering has held various positions with the Marquard & Bahls Group since May 1998. In January 2009 he took over the management of Mabagas. The company thanks him for his work and wishes him all the best for the future.
Marquard & Bahls AG is a Hamburg-based company that operates in the fields of energy supply, trading and logistics. Its core lines of business include trading, tank storage logistics and aviation fuelling. Furthermore, the company is active in dry bulk handling, carbon trading, fuel analysis and energy services. Through its subsidiaries, Marquard & Bahls has a presence in 36 countries in Europe, America, Asia and Africa and employs more than 7,700 people.
For information on Marquard & Bahls please visit www.marquard-bahls.com.
For media inquiries please contact:
Thomas Kollner, Head of Corporate Communication, Marquard & Bahls AG
Tel. +49 40 37004-0, » communication[at]marquard-bahls.com