The business was formed in 2006 to supply European clients with bio-diesel and other renewable fuels and it is one of the top four suppliers of Palm Methyl Ester (PME), which is produced from palm oil. Other fuels supplied include Rapeseed Methyl Ester (RME) and Soybean Methyl Ester (SME). Ambrian is keen to gain exposure to a section of the fuels market which it believes has growth potential. It provides an add-on to the general commodities trading operations of Ambrian.
Ambrian will invest $5m in the business to provide working capital. The Masefield business supplied 100,000 metric tonnes of bio-diesel, worth $100m, during 2009. It has 12,200 cubic metres of storage capacity in Ghent, Belgium.
AIM-quoted Ambrian owns broker Ambrian Partners, as well as commodities and metals traders and merchants. It also takes stakes in businesses.
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