Goodfuels

What Goodfuels does

GoodFuels is a brand and operating division of FincoEnergies B.V., a Dutch private limited company headquartered in Rotterdam with additional offices in Amsterdam and Singapore. Founded in 2015, GoodFuels develops and supplies drop-in sustainable biofuels — primarily Hydrotreated Vegetable Oil (HVO) and the proprietary GoodFuels MR1-100 marine biofuel recipe — to the international shipping, heavy road transport, and rail industries. Fuel is produced exclusively from certified waste and residue feedstocks under ISCC and RSB sustainability schemes and is delivered at various blend ratios (HVO100, HVO30, B30, B20) that achieve up to 90% well-to-exhaust CO2 reduction versus fossil diesel without requiring any engine or infrastructure modifications. The portfolio also includes Biomethanol, Bio-LNG, and Biomethane, plus complementary decarbonization services delivered through sister brands GoodShipping (a sustainable shipping book-and-claim program) and GoodZero (carbon offset solutions).

The company serves more than 50 enterprise customers globally across container shipping (CMA CGM), cruise (AIDA Cruises, Holland America Line, Virgin Voyages, Norwegian Dawn), car carriers (Volkswagen Group, UECC, Hyundai GLOVIS), dredging and offshore (Boskalis, Glomar Offshore, Jumbo, Dutch Dredging), dry bulk (NYK Line, NORDEN, BHP), inland waterway (Heineken via Nedcargo), and consumer goods logistics (IKEA, Tony's Chocolonely via GoodShipping). Its tripartite founding consortium with Boskalis (operator) and Wärtsilä (engine OEM), combined with sustainability memberships in IBIA, underpin OEM-validated, regulator-aligned offerings.

Revenue is generated primarily through volume-based direct sales of biofuels to enterprise customers under multi-year supply agreements, supplemented by a six-distributor network in the Netherlands for the road transport segment (DCB Energy, Slump On, Schouten Energy, AERS Olie, FincoEnergies Road, Dalhuisen). Global bunkering is performed via dedicated biofuel barges at European and Asian ports, with partnership-supported entry into the Americas announced in October 2023. Pricing is quote-based, calibrated to volume, blend ratio, delivery location and contract duration, and is not publicly disclosed. Marketing combines content, industry events (including COP), port and government engagement, and lighthouse-customer co-marketing through the GoodShipping program.

Name

Goodfuels

Legal name

FincoEnergies B.V.

Website

https://goodfuels.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

GoodFuels, a brand of FincoEnergies B.V., develops and supplies drop-in sustainable biofuels — primarily HVO diesel and marine biofuels — for the shipping, heavy road transport, and rail sectors, serving 50+ enterprise customers globally.

Ownership category

akta.pro rank

Product category

Sustainable Biofuels for Marine and Heavy Transport

NAICS

Petroleum and Coal Products Manufacturing (3241), Fats and Oils Refining and Blending (311225)

SIC

Fats & Oils (2070), Industrial Organic Chemicals (2860)

akta.pro primary industry

Renewable Diesel (HVO/HEFA) Production (EUAAAHAD)

akta.pro secondary industries

Alternative Low-Carbon Marine Fuels Bunkering (Methanol, Biofuels, Ammonia, Hydrogen) (TLAHAKAC), Biofuel Distribution & Fuel Marketing (Wholesale/Retail) (EUAAAHAI), Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD)

Keywords

• Sustainable marine biofuels
• Hydrotreated vegetable oil
• Drop-in biofuel supply
• Heavy transport decarbonization
• Biomethane and biomethanol fuels

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Sustainable Biofuel Sales: Direct sale of HVO diesel, B100, B30, B20 and other biofuel blends to shipping companies, road transport operators, and industrial customers. Revenue generated from volume-based fuel sales with various blend options from HVO20 to HVO100.
2. Long-term Supply Agreements: Multi-year contracts with enterprise customers for stable fuel supply. Customers commit to ongoing volumes in exchange for supply security and pricing stability.
3. Partner/Distributor Sales: Supply of biofuels through partner network of distributors in the Netherlands for road transport segment. Distributors purchase fuel volumes and resell to end customers.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels6 records

Core offering

GoodFuels develops, produces, and supplies sustainable drop-in biofuels — primarily HVO (Hydrotreated Vegetable Oil) diesel, biomethanol, and various blends (B30, B20, HVO100, HVO30) — for heavy transport sectors including ocean shipping, inland/coastal vessels, heavy-duty trucks, buses, construction vehicles, and rail locomotives. All products are made exclusively from certified waste and residue feedstocks and are designed to replace fossil diesel without requiring engine or infrastructure modifications.

Product overview

GoodFuels is a global sustainable fuel solutions brand operating under FincoEnergies, offering a portfolio of renewable fuels for heavy transport across road, rail, and marine sectors. The core product line centers on HVO (Hydrotreated Vegetable Oil) diesel available in various blends (HVO100, HVO30, B30) and marine biofuels including the flagship MR1-100 product. The portfolio extends to Biomethanol, Bio-LNG, and Biomethane, with complementary decarbonization solutions through the GoodShipping Program and GoodZero carbon offset services. A proprietary FuelScan tool enables customers to calculate biofuel impact, while a trial program supports onboarding. All products are produced exclusively from certified waste and residue feedstocks, achieving 80-90% CO2 reduction versus fossil fuels.

Differentiator

Problem solved

Functional benefit

Products and services

• HVO (Hydrotreated Vegetable Oil) Diesel Advanced drop-in biofuel produced by hydrotreatment of certified waste and residue feedstocks (vegetable oils, animal fats, used cooking oil). Direct replacement for fossil diesel in heavy-duty trucks, buses, construction equipment, rail, and marine engines without engine or infrastructure modifications.
• Marine Biofuels (GoodFuels MR1-100) Sustainable drop-in marine biofuel, with the flagship GoodFuels MR1-100 recipe enabling up to 90% CO2 reduction well-to-exhaust. Used by container shipping, dry bulk, cruise, car carriers, offshore, and inland shipping operators globally.
• GoodFuels Biomethanol Renewable methanol produced from biomass or organic waste materials, suitable as fuel, solvent, or feedstock for chemical synthesis. Made available for marine bunker use in the Port of Amsterdam.
• B30 Biofuel Blend Marine fuel blend containing 30% sustainable bio components from waste streams. Reduces CO2 footprint by approximately 25% versus fossil fuels and is used in dredging and marine operations.
• HVO30 Blend Marine fuel blend with 30% HVO content providing ~28% CO2 reduction. Drop-in fuel requiring no engine or infrastructure modifications, offered as a lower entry-point blend for offshore and marine customers.
• HVO100 (100% Renewable Diesel) Pure 100% hydrotreated vegetable oil fuel (also called blue diesel) enabling 80–90% CO2 reduction across the full lifecycle. The most effective form of HVO offered, providing maximum emission reduction without fossil fuel mixing.
• GoodShipping Program Award-winning sustainable shipping initiative enabling companies worldwide to make container shipments less polluting by changing the fuel mix. Lighthouse clients include IKEA, Heineken, and Tony's Chocolonely. Now operated as a separate company under FincoEnergies.
• GoodZero Carbon Offset Service Carbon management service under the FincoEnergies umbrella that enables customers to calculate, reduce, inset, and offset their emissions, complementing GoodFuels' biofuel products for complete decarbonization.
• Biofuel Trial Program Tailor-made trial solution supporting companies that want to test sustainable biofuels, including onboarding support and team training on biofuel usage and benefits.

Quantifiable outcome

• Up to 90% CO2 reduction (well-to-exhaust) vs fossil fuel equivalents
• +8 more outcomes

Named customers23 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

28 partnerships are on record, tiered core and minor.

• CircularisecoreTechnology or Integration · 24 October 2023Digital traceability solution partnership using blockchain technology to enable transparent tracking of sustainable feedstocks through biofuels supply chains.
• ITOCHUcoreStrategic or Co-development Partner · 18 May 2022Strategic partnership agreement signed to scale sustainable marine biofuel across Asia-Pacific region, leveraging ITOCHU's distribution network and market presence.
• Renewable Energy GroupcoreTechnology or Integration · 26 October 2021Partnership to lead the way to a sustainable future through advanced biofuel supply and production capabilities.
• BTG (Biomass Technology Group)coreStrategic or Co-development Partner · 14 November 2019Major investment in bio-refinery in Port of Rotterdam to support shipping's low carbon fuels demands. Joint investment to scale sustainable biofuel production.
• BoskaliscoreStrategic or Co-development Partner · 7 October 2015Marine biofuels consortium launched with Boskalis and Wärtsilä in 2015 to spearhead two-year pilot programme accelerating development of truly sustainable, scalable and affordable marine biofuels.
• WärtsiläcoreTechnology or Integration · 7 October 2015Partnership for marine biofuel testing - Wärtsilä provides engine testing facilities in Vaasa, Finland for ground testing biofuels before marine trials on Boskalis vessels.
• ISCC (International Sustainability and Carbon Certification)coreTechnology or IntegrationISCC is a certification system for the sustainability of biomass and bioenergy. GoodFuels products are certified through ISCC to verify sustainability of feedstocks and supply chain integrity.
• IBIA (International Bunker Industry Association)coreTechnology or IntegrationIndustry association for bunker fuel sector. GoodFuels member supporting development of sustainable biofuels in maritime industry.
• RSB (Roundtable on Sustainable Biomaterials)coreTechnology or IntegrationRSB is a multi-stakeholder council that develops standards for sustainable biomaterials, biofuels, and biomass. GoodFuels certified under RSB standards for sustainability verification.
• GoodShippingcoreStrategic or Co-development PartnerSeparate company under FincoEnergies umbrella, world's first sustainable shipping initiative enabling companies of all sizes to make container shipments less polluting by changing fuel mix. Lighthouse clients include IKEA, Heineken, Tony Chocolonely.
• GoodZerominorStrategic or Co-development PartnerCarbon management brand under FincoEnergies providing carbon offsetting solutions alongside GoodFuels biofuels for complete decarbonization.
• FincoEnergiescoreStrategic or Co-development PartnerParent company of GoodFuels brand. Independent leading supplier of sustainable energy solutions providing low-carbon energy and decarbonization solutions including GoodFuels, GoodShipping, and GoodZero brands.
• UPM BiofuelscoreTechnology or IntegrationSupplier of UPM BioVerno wood-based renewable diesel - first-ever biofuel derived from wood residue used in marine fleet, tested extensively on Boskalis vessels.
• Control UnioncoreTechnology or IntegrationTesting partner for isotopic tracer technology for marine biofuels, working with GoodFuels, Norden, and IDS Group to verify biofuel authenticity in supply chain.
• Port of AmsterdamcoreGTM or Marketing PartnerLong-standing partnership for marine biofuel pilot projects. Port vessels run on GoodFuels sustainable biofuel, reducing CO2 by 25%. Port supported GoodFuels from market development inception.
• Glomar OffshorecoreGTM or Marketing PartnerLong-term partnership for offshore decarbonization. Glomar achieved 28% CO2 reduction transitioning to GoodFuels HVO30, with goal of using HVO30 across entire fleet.
• IKEAcoreGTM or Marketing PartnerLighthouse client in GoodShipping Program enabling carbon-neutral shipping of containers. Partnership demonstrates sustainable shipping leadership to consumer goods sector.
• HeinekencoreGTM or Marketing PartnerPartnership for sustainable shipping through GoodShipping Program. First inland vessel on 100% sustainable biofuel for Heineken Netherlands operations.
• CMA CGMcoreGTM or Marketing PartnerMarine biofuel trials for CMA CGM White Shark container vessel in Rotterdam. Partnership with IKEA and GoodShipping for sustainable cargo transport.
• Volkswagen GroupcoreGTM or Marketing PartnerSelected as exclusive partner for Volkswagen's fossil-free car transport operations using sustainable biofuels for vehicle logistics.
• KLMcoreGTM or Marketing PartnerPartnership to power KLM's free Schiphol shuttle bus service with advanced GoodFuels biofuel. Reduced one million kilometers of CO2 emissions.
• Holland America LinecoreGTM or Marketing PartnerCruise industry's first long-term biofuel test with Wärtsilä and GoodFuels on flagship Rotterdam vessel, marking milestone in cruise sector decarbonization.
• Stolt TankerscoreGTM or Marketing PartnerAtlantic crossing biofuel trial and ongoing partnership for sustainable chemical tanker operations using GoodFuels marine biofuels.
• DCB EnergycoreChannel Partner/ Reseller/ DistributorEnergy partner in GoodFuels distributor network for sustainable road transport in Netherlands. Located in Spijkenisse serving regional transport operators.
• Slump OncoreChannel Partner/ Reseller/ DistributorFamily company in GoodFuels distributor network with strong focus on sustainability and innovation in fuel market. Located in Heerenveen serving northern Netherlands.
• Schouten EnergycoreChannel Partner/ Reseller/ DistributorModern energy supplier in GoodFuels distributor network focusing on sustainable fuels and lubricants. Located in Alphen aan den Rijn serving western Netherlands.
• AERS OlieminorChannel Partner/ Reseller/ DistributorReliable supplier of fuels and lubricants in GoodFuels distributor network. Located in Aardenburg serving southwestern Netherlands.
• DalhuisencoreChannel Partner/ Reseller/ DistributorFuel supplier in GoodFuels distributor network offering wide range of fuels, lubricants, and own transport distribution with tank stations. Located in Epe.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Neste: Finnish refiner and the world's largest producer of renewable diesel (HVO/My) from waste and residue feedstocks, directly competing with GoodFuels' MR1-100 product across marine, road, and industrial fuel markets. Both companies target similar sustainability-certified feedstock streams and compete for the same enterprise fleet customers.
• UPM Biofuels: Finnish producer of wood-based renewable diesel (UPM BioVerno) sold into marine and road transport markets. UPM is both a feedstock partner to GoodFuels (for Marker Wadden wood-residue trial) and a competitor in wood-based HVO, overlapping on product technology and customer segments.
• Renewable Energy Group (Chevron REG): US-based producer of renewable diesel (HVO) and biodiesel from waste fats, oils, and greases, now owned by Chevron. Direct competitor in renewable diesel production technology, feedstock strategy, and transport-fuel customer base; Chevron backing provides significant balance-sheet advantages.
• Bunker Holding: World's largest marine fuel supplier and physical bunker distributor, expanding into sustainable biofuel blends to serve shipowners navigating IMO regulations. Direct peer in marine biofuel marketing and physical bunkering operations across global ports.

Broad incumbents

• TotalEnergies: Global oil major expanding into sustainable marine biofuels and bunkering through its Total Marine Fuels division, offering B24 biofuel blends at scale across major ports. Overlaps with GoodFuels in marine biofuel supply but as part of a much broader downstream energy portfolio.
• Shell: Integrated energy major with significant biofuel production capacity and an established global marine bunker network (Shell Marine), increasingly supplying sustainable biofuel blends to shipping customers. Competes with GoodFuels in marine biofuels while offering a far wider fuels and lubricants portfolio.
• BP: Energy major with biofuel production assets and marine biofuel supply partnerships targeting the same shipping decarbonization customers. BP's broader capital base and refinery integration position it as a major incumbent competitor across GoodFuels' marine and road segments.
• World Fuel Services: Global energy company and one of the world's largest marine fuel bunker suppliers, increasingly offering biofuel blends alongside conventional marine fuels. Competes with GoodFuels in marine biofuel marketing and global bunkering infrastructure, though from a much broader downstream portfolio.

Emerging players

• SkyNRG: Dutch sustainable fuel company focused primarily on sustainable aviation fuel (SAF) with adjacent capabilities in sustainable feedstock sourcing and traceability. Comparable in Dutch origin, sustainability-certification approach, and enterprise sales motion, but focused on aviation rather than marine/road transport.
• Aemetis: US renewable fuels company producing renewable diesel (HVO) and biodiesel from low-carbon feedstocks, with carbon capture planned at production sites. Comparable to GoodFuels in renewable diesel product technology and waste-feedstock strategy, but currently focused on the US market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Goodfuels