Wolftank Group signs MOU with Kuwait Petroleum Italia

Wolftank Group strengthens its activities in the field of LNG and hydrogen.

Wolftank Group, a leading expert in environmental technology and full-service provider for filling stations, plans to expand its active role in the implementation of climate-friendly (renewable) natural gas and hydrogen solutions. In the near future, the Group will initiate negotiations with Kuwait Petroleum Italia S.p.A., which manages the European business out of Italy with more than 3,000 service stations under the brand “Q8”. Kuwait Petroleum Italia plans to invest in renewable energy carrier such as liquefied natural gas (LNG) and hydrogen – in each case primarily for commercial vehicles and ships – with immediate effect.

In this context, the Group’s Italian subsidiary, Wolftank DGM S.r.l., and Kuwait Petroleum Italia have signed a Memorandum of Understanding. The common objective is to explore the opportunity to enter into specific project contracts for the construction of LNG and hydrogen refueling facilities, under which Kuwait Petroleum Italia would be able to rely on the long-standing expertise of the Wolftank Group. As part of these negotiations, the two groups will explore the possibility of using or setting up a joint venture company. As a first step, the Wolftank Group will therefore evaluate the possibilities of a proportionate financing for this potential joint venture.

“I am excited about this potential cooperation with Kuwait Petroleum, which represents a step towards a greener future. We are convinced that hydrogen and methane from renewable sources will play an increasingly important role as climate-neutral energy carriers. Our group has built up many years of expertise in this area throughout Europe and worldwide and can actively support the expansion of the European filling station infrastructure towards sustainable refueling,” says Peter Werth, CEO of the Wolftank Group.

With the introduction of (bio)LNG and hydrogen as green and renewable energy carriers, the decarbonization of transport is directly achieved. The market for LNG and hydrogen refueling stations in Europe should therefore continue to grow strongly, with the associated need for production and logistics infrastructure. Key competencies for this remain the storage of fuels at cryogenic temperatures and high pressures, and the management of process software for compression, temperature control and dispensers. It is especially in these areas that the Wolftank Group has key competencies.

About Kuwait Petroleum Italia S.p.A.:

Kuwait Petroleum Italia S.p.A. operates in the field of fuel distribution and sustainable mobility and aims to make a significant contribution to the energy transition by favoring the use of liquid (bio)methane (LNG), compressed methane (CNG), and hydrogen in the transport sector. The company is part of Kuwait Petroleum International and has been distributing its products in Europe since 1984 under the main brand Q8, through a fuel distribution network of over 3,000 service stations, direct sales of lubricants, and marine and aviation fuels.

About Wolftank-Adisa Holding AG:

Wolftank-Adisa Holding AG is the parent company of an international group of companies focusing on the turnkey construction of modular hydrogen and LNG fuelling facilities, the dismantling of traditional fuelling stations with appropriate soil remediation (environmental protection services for polluted soils, facilities and waters), and the remediation and monitoring of (large-scale) fuelling facilities.

The share of Wolftank-Adisa Holding AG (WKN: A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of Vienna Stock Exchange and traded (open market) on Xetra, Quotrix, the Frankfurt, Munich and Düsseldorf stock exchanges.

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Note: All requirements of the Austrian Stock Exchange Act regarding the requirement of a formal admission of financial instruments for trading and issuer obligations on a regulated market for financial instruments traded on the Third Market do not apply, but in particular the requirements set out in Art. 17 (Publication of Insiders, Contract participation “direct market plus” | December 2018), Art. 18 (Insider Lists) and Art. 19 (Directors dealing) of the Market Abuse Ordinance (VO (EU) No. 596/2014) in connection with the obligations laid down in the respective national legal rules pursuant to the Stock Exchange Act and the prohibitions of Art. 14 (Insider Trading) and Art. 15 (Market Manipulation) of the Market Abuse Ordinance (VO (EU) No. 596/2014) in connection with the respective national legal rules pursuant to the Stock Exchange Act do apply.

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Table of contents: Wolftank Group signs MOU with Kuwait Petroleum Italia