Cepsa rebrands itself as Moeve to drive transformation and say goodbye to oil

Moeve

Cepsa has changed its name to Moeve, a rebranding that symbolizes its commitment to becoming a leader in the European energy transition and leaving behind its oil-related past. As part of its ‘Positive Motion’ strategy for 2030, this change also aims to accelerate its decarbonization and that of its clients, through an investment of up to €8 billion, of which more than 60% will be allocated to sustainable businesses, such as green hydrogen production, second-generation (2G) biofuels, and sustainable chemicals, as well as ultra-fast electric charging.

The CEO of the newly established Moeve, Maarten Wetselaar, stated that “today is a historic day for the family of more than 11,000 professionals that make up the company”… “I am excited to announce the change from a great brand, Cepsa, which has been with us for over 90 years, to tell the world that we are transforming into a different type of organization, Moeve, where most of its profits will come from sustainable activities by the end of this decade,” he added.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.