Moeve

What Moeve does

Moeve is a Spanish integrated energy company (formerly Cepsa, founded 1929) operating across the full downstream and midstream value chain including crude refining, fuel retail at over 1,600 service stations across Spain, Portugal, and Andorra, chemicals (notably Linear Alkylbenzene via proprietary NextLab-R technology), lubricants, asphalts, aviation fuels, and marine fuels. The company serves four primary customer groups: individual consumers (via Moeve gow loyalty program and mobile app), self-employed professionals and fleet operators (via Moeve pro fleet cards with integrated toll, parking, and online management), industrial buyers (bulk fuels, lubricants, chemicals, asphalts), and emerging heavy-industry decarbonization customers via the Moeve decarbonize platform. Its go-to-market combines direct-to-consumer retail and franchise operations, dedicated B2B fleet management, and enterprise field sales for decarbonization, green hydrogen, SAF, and biofuels.

The business model is anchored on transaction-fee revenue from refined product sales at retail and wholesale, supplemented by subscription/recurring revenue from the Moeve decarbonize industrial platform and loyalty/fleet programs. Moeve generates additional revenue streams from chemical product sales, marine and aviation fuel supply, and licensing (NextLab-R through Honeywell). Pricing follows pay-as-you-go at the pump with loyalty-linked discounts (up to €33.50 savings per 50-liter refuel), monthly fleet card billing, and bespoke enterprise contracts for green hydrogen, SAF, and Scope 3 decarbonization bundles.

Under the Positive Motion 2030 strategy, Moeve is pivoting capital and operations toward energy transition: 55% of the €1,151M 2025 capex (up from 43% in 2024) is directed to clean energy, anchored by the €3B Andalusian Green Hydrogen Valley (300MW first phase, expanding to 2GW), second-generation biofuels capacity at Palos de la Frontera, sustainable aviation fuel via Shell's Avelia blockchain platform, and green ammonia expansion into Morocco with TAQA Morocco. The company is privately held by Mubadala Investment Company and Carlyle Group (acquired 2021) and is in non-binding merger discussions with Galp to consolidate Iberian downstream assets into IndustrialCo and RetailCo, targeted for mid-2026.

Name

Moeve

Legal name

MOEVE COMMERCIAL S.A.U.

Website

https://moeve.es

Company type

Private

Founded year

1929

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Moeve (formerly Cepsa) is a Spanish integrated energy company serving individuals, fleets, and industrial customers with refined fuels, lubricants, chemicals, and emerging green hydrogen, SAF, and biofuels across 1,600+ Iberian service stations.

Ownership category

akta.pro rank

Product category

Integrated Energy and Fuels

NAICS

Petroleum Refineries (32411), Petroleum Lubricating Oil and Grease Manufacturing (324191), Petroleum and Petroleum Products Merchant Wholesalers (4247), Petroleum and Coal Products Manufacturing (324)

SIC

Petroleum Refining (2911), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB)

akta.pro secondary industries

Energy, Utilities & Sustainability Management (BPABAAAF), Marine Fueling & Engine Fluids Retail (Oil, Additives, Lubricants) (CRAMAIAK)

Keywords

• Fuel retail distribution
• Sustainable aviation fuel
• Green hydrogen production
• Renewable diesel HVO
• Industrial lubricants supply

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Refining and Fuel Retail: Traditional refining operations and retail fuel sales through owned and franchise service stations. Revenue generated from crude oil processing and sale of petroleum products including gasoline, diesel, and LNG.
2. Green Hydrogen and Clean Energy: Production and sale of green hydrogen through the Andalusian Green Hydrogen Valley project. 300MW initial capacity producing ~45,000 tonnes annually, expandable to 2GW across two sites.
3. Sustainable Aviation Fuel (SAF) and Biofuels: Production of SAF from used cooking oil and renewable diesel (HVO). Second-generation biofuels plant under construction in Palos de la Frontera. Supply agreements through Shell's Avelia blockchain platform.
4. Chemical Products: Production and sale of chemical products including Linear Alkylbenzene (LAB), lubricating oils, greases, and specialty chemicals. NextLab-R technology enables bio-based LAB production.
5. Industrial Decarbonization Solutions: Moeve decarbonize platform offering renewable electricity, biomethane, and HVO to industrial customers for Scope 3 emissions reduction, delivered through partnerships with Accenture and GreenYellow.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Moeve is an integrated Iberian energy company that refines and markets petroleum products through a network of 1,600+ service stations across Spain and Portugal, and produces lubricants, chemicals (including Linear Alkylbenzene), asphalts, aviation and marine fuels. It is transitioning into green energy with a leading position in green hydrogen, HVO renewable diesel, sustainable aviation fuel (SAF), and biomethane, while selling decarbonization solutions and fleet services to industrial customers under the Moeve pro and Moeve decarbonize brands.

Product overview

Moeve is a Spanish integrated energy company (formerly Cepsa) operating across the energy value chain from exploration and refining to retail and renewable energy. The company offers a comprehensive multi-energy portfolio structured around retail fuel distribution (gasoline, diesel, LNG, autogas, AdBlue at over 1,500 service stations), electric mobility (EV charging infrastructure), biofuels (HVO renewable diesel, SAF), green hydrogen (Andalusian Green Hydrogen Valley project), and industrial products (lubricants, asphalts, aviation fuels). The business model combines traditional fossil fuel operations with an accelerating energy transition pivot, providing loyalty programs (Moeve gow), fleet management solutions (Moeve pro cards and app), and industrial decarbonization services (Moeve decarbonize platform). Products span consumer offerings at service stations, commercial B2B solutions for industries and fleets, and specialized energy products including marine fuels and chemicals.

Differentiator

Problem solved

Functional benefit

Brands

• MAX fuels: Premium fuel products including Diesel MAX and Gasolina Optima 95/98
• Star fuels
• HVO 100 MAX
• Plan Multienergy
• Moeve pro cards
• Starressa App / Moeve pro App
• Moeve decarbonize
• Track and Trace
• Moeve electric mobility

Products and services

• Moeve gow loyalty program

Quantifiable outcome

• Avoiding 250,000 tonnes CO2 annually from 300MW green hydrogen facility
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability1 record

Feature2 records

Partnerships

17 partnerships are on record, tiered minor and core.

• Suardiaz Group (Suardiaz Energy)minorStrategic or Co-development Partner · 28 May 2026Suardiaz Energy division operates the methanol-capable 6,771-dwt bunker tanker RS Onza for Moeve in European ports, primarily Spain. Strengthens Moeve's logistics capabilities for new fuels as part of its decarbonization roadmap.
• Masdar (300MW Spanish green hydrogen project)coreStrategic or Co-development Partner · 20 May 2026Masdar reportedly withdrawing from the 300MW Spanish green hydrogen project led by Moeve. Moeve negotiating with Spanish state-owned finance institute and French investor to acquire Masdar's 29% stake.
• AccenturecoreStrategic or Co-development Partner · 11 May 2026Strategic agreement to accelerate industrial decarbonization. Accenture provides generative AI and digital technologies for decarbonization planning; Moeve provides renewable electricity, biomethane, and HVO solutions. Focus on Scope 3 emissions across supply chains.
• TAQA MoroccocoreStrategic or Co-development Partner · 2 May 2026Moroccan government selected TAQA Morocco and Moeve to develop large-scale green ammonia project. TAQA Morocco supplies renewable energy while Moeve handles e-fuels production and marketing. Located in Dakhla region with facilities at Port of Jorf Lasfar.
• Thyssenkrupp nuceracoreTechnology or Integration · 20 March 2026Contracted to supply 300MW of alkaline water electrolysis technology for the Onuba green hydrogen project in Spain, the largest such plant in southern Europe.
• Moroccan GovernmentcoreStrategic or Co-development Partner · 10 March 2026Government selected TAQA Morocco and Moeve for land reservation agreements for green hydrogen projects under Morocco's national 'Green Hydrogen Offer' initiative.
• European Resilience Alliance for Clean Hydrogen & Derivatives (ERA)coreStrategic or Co-development Partner · 6 March 2026CEO-led initiative including Hydrogen Europe, Enagás, Fluxys, Fortum, Gasgrid Finland, Moeve, Nordian Energi, OGI, RWE Generation, SEFE, Strega and Thyssenkrupp to address Europe's energy challenges and boost industrial competitiveness.
• MasdarcoreStrategic or Co-development Partner · 2 March 2026Abu Dhabi renewable energy company Masdar holds minority stake (29%) in the Andalusian Green Hydrogen Valley project. Masdar is reportedly withdrawing from the project, with Moeve negotiating with Spanish state-owned finance institute and French investor to acquire the stake.
• Enalter (Enagás Renovable joint venture)coreStrategic or Co-development Partner · 2 March 2026Enalter is a joint venture between Enagás Renovable and Alter Enersun. It holds minority stake in the Andalusian Green Hydrogen Valley project as part of Moeve's 51% majority ownership structure.
• Andalusian Digital Agency (ADA)minorStrategic or Co-development Partner · 16 February 2026Strategic alliance in quantum computing to position Andalusia within Spain's national quantum technology landscape. IBM is main technology partner, Ayesa is technology integration collaborator.
• DECARBON 2026 Partners (Shell, Fluor, Gasunie)minorGTM or Marketing Partner · 13 February 2026DECARBON 2026 conference hosted by Shell in partnership with Moeve, Fluor, Gasunie and other energy sector organisations in Vösendorf, Austria. Drew senior executives across oil and gas value chain.
• GreenYellowminorStrategic or Co-development Partner · 26 January 2026Partnership to deliver tailored decarbonization solutions including renewable energy, energy storage, and electric vehicle charging infrastructure for industrial customers.
• GalpcoreStrategic or Co-development Partner · 8 January 2026Non-binding agreement to combine downstream assets into two platforms: IndustrialCo (refining, chemicals, low-carbon fuels with ~700 kbpd capacity) and RetailCo (3,500+ service stations). Target to finalize by mid-2026, subject to regulatory approval.
• Universidad Politécnica de Madrid (UPM)minorStrategic or Co-development Partner · 9 December 2025First-ever Green Molecules Innovation Chair - business-university partnership focused on developing sustainable aviation fuels, green hydrogen production, and CO2 capture technologies. Includes joint training programmes and knowledge-sharing forums.
• HoneywellminorOEM/ Whitelabel/ Licensing Partner · 25 November 2025Expanded collaboration to produce bio-based Linear Alkylbenzene (LAB). Moeve's NextLab-R technology will be licensed through Honeywell to detergent manufacturers worldwide.
• ShellcoreGTM or Marketing Partner · 13 October 2025Moeve became the first external SAF supplier to join Shell's blockchain-based Avelia platform, which connects airlines, fuel suppliers, and corporate buyers for sustainable fuel supply chains.
• Moeve Light Up Accelerator StartupsminorStrategic or Co-development Partner · 18 June 2025Selected nine deep science cleantech startups covering biofuels, ammonia generation, sustainable aviation fuel, AI-driven solutions, and wastewater valorization. Demo Day scheduled for 2026.

Scale indicators11 records

Recent moves6 records

Expansion highlights7 records

Emerging players

• World Energy: Specialty low-carbon fuels producer focused on SAF and renewable diesel. Comparable to Moeve's biofuels/SAF scale-up ambitions and supply chain through platforms like Shell's Avelia.
• Neste: Global leader in renewable diesel (HVO) and SAF. Directly comparable to Moeve's biofuels business, NextLab-R bio-LAB platform, and HVO/SAF capacity build-out in Iberia.

Broad incumbents

• Phillips 66: US-based refining and marketing company with European retail and lubricants exposure. Comparable in refining margin exposure and downstream optimization discipline.
• BP: Integrated energy major with refining, branded retail (including Castrol lubricants), and growing low-carbon fuels. Comparable to Moeve in Castrol lubricant overlap, refining economics, and energy transition strategy.
• Eni: European integrated energy company pursuing biofuels (Eni Sustainable Mobility), green hydrogen, and refining-to-chemicals transition. Comparable in low-carbon fuels strategy and European refinery asset base.
• Shell: Global integrated energy major and active Moeve partner via the Avelia SAF platform. Comparable in refining, fuel retail, lubricants, marine fuels, aviation fuels, and SAF commercialization.
• TotalEnergies: Integrated energy major with significant refining, retail, lubricants (Total Lubricants), biofuels, and green hydrogen ambitions across Europe. Closely comparable across the same product verticals as Moeve.
• Valero Energy: Major independent refining and renewable diesel producer. Comparable in refining margin sensitivity, renewable diesel scaling, and capital discipline in downstream energy.

Direct peers

• Galp: Portuguese integrated energy company with refining (~330 kbpd) and a sizeable Iberian retail network. Direct comparable given the active non-binding merger discussions to combine downstream assets, and a similar renewables/biorefining pivot.
• Repsol: Spain's largest integrated energy company with refining, fuel retail, lubricants, chemicals, and renewables. Directly comparable to Moeve as the primary Iberian downstream competitor across overlapping service station networks, refinery assets, and energy transition strategies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MoeveClientes
• YouTubeyoutube.com/@moeve_global
• Facebookfacebook.com/MoeveES
• LinkedInlinkedin.com/company/moeveglobal
• Instagraminstagram.com/moeve_gow

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries12 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Moeve