With backing from the private equity fund Bluewater, Global Petro Storage has set up Global Energy Storage, a firm looking to invest $250m in energy transition.
GES has been set up by the management team from the independent hydrocarbon storage and logistics company Global Petro Storage (GPS), and will build on the successful model they developed at that company. The management team will continue to work across both GPS and GES.
GES will focus on key global hubs and growth locations, international cross-linking business, and long-term relationships with top-tier energy suppliers. Its focus will be on low carbon and energy transition fuels and related infrastructure and logistics services.
Peter Vucins is CEO and Eric Arnold is executive chairman. At GPS they were responsible for significant global operations and expansion, with infrastructure at the Port of Amsterdam, Port Klang in Malaysia, and the Innova Terminal in the UAE.
Peter Vucins said: “We have a proven ability to execute both greenfield and brownfield projects. We see growth areas in the storage and logistics for LNG, LPG, hydrogen, ammonia, and renewable fuels. We are developing an exciting pipeline of projects in Southeast Asia, Latin America, and elsewhere across the globe. We anticipate announcing our first deal very soon. It’s an exciting time for GES and we look forward to making further announcements soon about the expansion of the business.”
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