Ceres Energy acquires stake in biomethane shipping firm Barrow
Ceres will contribute its knowledge and experience of gas market operations, trading, and marketing acquired in the conventional gas market to Barrow, strengthening the company’s position as a green gas shipper and supplier.
Barrow, with Ceres, will be well placed to compete against larger fossil fuel-based firms that are moving into the green gas market.
John Baldwin, founder of Barrow, will retain significant ownership through his company CNG Services.
“Barrow secured the first green gas supply in the UK, establishing the green gas market, and will benefit greatly from Ceres’ broader gas industry experience,” said Baldwin.
“I am delighted that we will now work together to provide a wider range of options and more flexibility for producers bringing renewable gas to the grid and to gas users looking to switch to green gas.”
Helen Edwards, CEO and co-founder of Ceres said the firm is looking forward to ensuring Barrow maintains and enhances its position as an attractive choice for biomethane producers. She said: “The move will consolidate Ceres’ position as an innovative gas shipping, trading, and marketing company and will strengthen our independent voices in the green gas market.”
“This represents a significant opportunity for Barrow,” said the firm’s CEO, Tim Davis. “The support of Ceres and CNG Services, two companies which are committed to delivering a sustainable energy future, will enhance Barrow’s ability to support customers in the green gas market.”
Ceres will support the day-to-day operations of Barrow from its base in Northumberland.