Spanish petroleum company Cepsa has rebranded itself as Moeve, aiming to enhance its communication regarding its ongoing efforts in the sustainable energy sector. This change aligns with the company's 2030 Positive Motion strategy, emphasizing its dedication to accelerating decarbonization and moving away from its fossil fuel legacy.
Moeve plans to invest EUR 8 billion (USD 8.65 billion) in sustainable initiatives, focusing on green hydrogen, second-generation biofuels, sustainable chemicals, and electric vehicle charging infrastructure. The company's flagship project is the Andalusian Green Hydrogen Valley in southern Spain, which will feature two 1-GW electrolysis plants and renewable energy projects surrounding its refineries in Palos de la Frontera and Cadiz.
Additional initiatives include the establishment of a green hydrogen maritime corridor linking southern Spain to northern Europe, the construction of a second-generation biofuels plant in Palos de la Frontera, the development of biomethane projects, and the rollout of ultra-fast charging stations for electric vehicles.
As part of this transition, Moeve has also begun divesting some of its traditional petroleum assets located in Colombia, Peru, and Abu Dhabi.
“Today, we are launching Moeve as the insignia of the next chapter in our history within the energy sector. Our company was founded in 1929 as Compañía Española de Petróleos SA to build Spain's first refinery and lead the nation's initial energy transition. For nearly a century, Cepsa has played a crucial role as a driver of Spain's economic progress and growth. Yet, today, the world requires new, more sustainable energy solutions,” stated Moeve CEO Maarten Wetselaar.
The rebranding will be implemented gradually across Moeve's network of over 1,800 service stations in Spain and Portugal, with the rollout beginning in November.
