EKO Cyprus

What EKO Cyprus does

EKO Cyprus is a private petroleum products and energy services company operating as a wholly-owned subsidiary of HELLENiQ ENERGY Holdings (formerly Hellenic Petroleum Group), one of the largest energy groups in Greece and the wider Mediterranean region. Founded in 2002 and headquartered in Strovolos, Cyprus, the company supplies automotive fuels, lubricants, LPG, and industrial/marine petroleum products, operating a national network of petrol stations alongside fleet management services, an EV charging network, and kerosene heating oil distribution. Its core technology is proprietary fuel additive formulation: EKO Racing 100 is the only 100-octane gasoline available in Cyprus; EKO Racing 98 reduces friction by up to 4% and cuts carbon monoxide emissions by 15%; and Diesel AVIO Double Filtered incorporates aircraft-grade fuel filter technology achieving 98% filtration efficiency. The product portfolio is supported by state-of-the-art terminals at Vassiliko, Larnaca, and Limassol, the latter also serving as a marine diesel bunkering port.

The business generates revenue across multiple streams: retail fuel sales through per-liter pricing at the petrol station network, lubricant sales, LPG/autogas sales, industrial product sales (mazut, marine diesel, kerosene heating oil, JET A-1 aviation fuel), and recurring fees from fleet management services (EKO Card, EKO Easy Fuel/Fleet Fuel Control, GPS System). The company sells to a diversified customer base spanning individual consumers, professional driver groups (taxi, truck, driving schools), corporate fleet operators, industrial facilities, and government entities. Distribution is direct via company-owned stations, road tanker delivery, pipeline-to-barge supply at Larnaca Port, and the EKO Smile mobile app which enables contactless payment, loyalty points (Smiles), and conversion to AEGEAN Miles+Bonus airline miles. The company holds ISO 9001 certification, complies with EU SEVESO III industrial safety requirements, and has received multiple regional awards including Great Place to Work (2022) and Cyprus Mobile Excellence Awards (2021).

Name

EKO Cyprus

Legal name

EKO CYPRUS LIMITED

Website

https://eko.com.cy

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

EKO Cyprus is a privately-held petroleum products and energy services company operating a national petrol station, LPG, lubricants, industrial/marine fuel, EV charging, and fleet management network across Cyprus, serving individual consumers, professional drivers, corporate fleets, and industrial buyers as a subsidiary of HELLENiQ ENERGY Holdings.

Ownership category

akta.pro rank

Product category

Petroleum Products and Fuel Retail

NAICS

Fuel Dealers (45721), Petroleum Bulk Stations and Terminals (424710), Petroleum and Petroleum Products Merchant Wholesalers (4247)

SIC

Retail-Auto Dealers & Gasoline Stations (5500), Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD)

akta.pro secondary industries

Marine Bunkering & Port Fuel Supply (EUALAIAG), Aviation Fuel Marketing (Into-Plane, Airport Fueling) (EUALAIAH), Lubricants, Fluids & Chemical Products Distribution (Oils, Coolants, AdBlue/DEF, Cleaners) (TLAKAOAL), Fleet Maintenance & Repair Spend Payments (Service Network Cards, Pay-at-the-Pump/Shop) (TLABAMAJ)

Keywords

• Petroleum fuel supply
• Fleet management services
• EV charging network
• Automotive lubricants
• LPG autogas distribution

Headquarters

HQ city

Strovolos

HQ country

Cyprus

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Fuel Sales: Sale of petroleum products including unleaded petrol (95 EKONOMY, Racing 98, Racing 100), diesel (Diesel Economy, Diesel AVIO Double Filtered), and autogas/LPG. Revenue generated through retail petrol station network across Cyprus with per-liter pricing.
2. Lubricants: Sale of automotive, professional, industrial, and maritime lubricants through petrol station network and dedicated channels.
3. Fleet Management Services: Revenue from EKO Card corporate accounts with invoicing at month-end, EKO Easy Fuel/FFC system fees, and GPS System subscription services for fleet management.
4. EV Charging: EKO Charge & Go service providing electric vehicle charging through a rapidly expanding fast-charging network in Cyprus, accessible via EKO Smile app.
5. Industrial Products: Sale of industrial fuel products including mazut (light and heavy fuel oil), marine diesel, kerosene heating oil, and JET A-1 aviation fuel.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

EKO Cyprus supplies and retails petroleum products (premium gasoline grades, diesel variants, LPG/autogas) and automotive/industrial/maritime lubricants through a nationwide network of company-owned petrol stations. The company also provides fleet management services (EKO Card, Fleet Fuel Control, GPS tracking), EV charging via EKO Charge & Go, and operates the EKO Smile mobile loyalty and contactless payment platform. Industrial product offerings include mazut, marine diesel, kerosene heating oil, and aviation fuel supplied via tanker delivery.

Product overview

EKO Cyprus is a petroleum products company operating under HELLENiQ ENERGY (formerly HELPE Group). The product portfolio centers on automotive fuels including premium gasoline variants (EKO Racing 100 at 100 octane, EKO Racing 98, EKONOMY 95), diesel products (Diesel AVIO Double Filtered, Diesel Economy), and autogas. Supporting services include the EKO Smile mobile loyalty app with contactless payment and AEGEAN Miles+Bonus integration, fleet management solutions (EKO Easy Fuel/FFC, EKO Card, GPS System), and EV charging via EKO Charge & Go. Industrial products encompass kerosene heating oil, marine diesel, mazut (light and heavy variants), and a comprehensive lubricants range covering automotive, professional, industrial, and maritime sectors.

Differentiator

Problem solved

Functional benefit

Brands

• EKO Smile: Mobile loyalty app and digital rewards program enabling contactless fuel payments and Smiles points accumulation and redemption
• EKO Racing 98
• EKO Racing 100
• Diesel AVIO Double Filtered
• Diesel Economy (EKONOMY)
• EKO Charge & Go
• EKO Easy Fuel / Fleet Fuel Control (FFC)
• EKO Loyalty Card
• EKO Card

Products and services

• EKO Racing 100 Premium 100-octane gasoline, the only 100-octane fuel available in Cyprus. Provides up to 4.6% higher engine efficiency, 75% reduction in engine friction, and up to 5.4% reduction in fuel consumption compared to standard 95-octane fuel. Designed for drivers seeking maximum engine performance.
• EKO Racing 98 98-octane gasoline formula with advanced additives. Reduces friction up to 4% for higher motor efficiency, prevents deposit formation on valves up to 100%, and reduces carbon monoxide emissions by 15%. Specifically designed for direct injection spark ignition engines.
• EKONOMY 95 Standard unleaded 95-octane petrol with special additives designed to ensure maximum fuel economy based on driving style, while keeping the engine clean and prolonging its lifespan without burdening the consumer with higher cost.
• Diesel AVIO Double Filtered Premium diesel fuel featuring aircraft fuel filter technology with a special filter installed before pumps achieving 98% filtration efficiency for removal of particles, rust, and water. Delivers up to 3 units cetane number increase, up to 4.1% fuel economy, and up to 20% engine noise reduction.
• Diesel EKONOMY New generation diesel designed to offer more kilometers with less fuel. Saves up to 4% in fuel (approximately 2 liters per 50-liter fill-up), keeps the injection system and valves clean, reduces engine friction, and protects the engine fuel system from corrosion.
• Autogas (LPG) AutoGas is a mixture of butane and propane in an 80%-20% ratio. Offers significantly lower fuel cost and reduced pollutant emissions compared to petrol and diesel, available at EKO petrol stations across Cyprus.
• EKO Charge & Go Electric vehicle charging service providing access to a rapidly expanding fast-charging network in Cyprus. Accessible through the EKO Smile app at EKO stations and at publicly accessible locations outside stations.
• EKO Easy Fuel / Fleet Fuel Control (FFC) Electronic fleet fuel management system using FuelOpass technology for automated vehicle recognition. Ensures 100% guarantee of fuel delivery to authorized fleet vehicles, with online controls for volume and money restrictions, refueling scheduling, and detailed consumption reporting.
• EKO Card Fleet management card enabling cashless refueling for corporate fleet owners. Provides restrictions on card usage including maximum transaction limits per day/month in Euro or Liters and operating hour controls, with detailed reporting per vehicle and month-end invoicing.
• GPS System Fleet tracking and management solution for fleet operators, with real-time route recording, driving behavior monitoring including speed limit compliance and dangerous driving detection, maintenance cost optimization, and fuel consumption tracking.
• EKO Loyalty Card Loyalty card program for professional driver groups including taxi drivers, truck drivers, and driving school operators. Provides annual cash refunds based on period purchases as a professional driver-specific reward.
• EKO Smile Mobile App Mobile loyalty application enabling contactless pump activation and fuel payment, digital Smiles points collection (1-3 Smiles per liter depending on fuel type), AEGEAN Miles+Bonus conversion, wallet payments, and direct communication with EKO representatives.
• Kerosene Heating Oil Non-viscous hydrocarbon distillate with relatively low flashing point (>38C) used for heating purposes in central heating systems and open-type heaters. Sulphur content is 0.04%. Supplied via road tanker delivery to residential and commercial customers.
• Marine Diesel Diesel fuel supplied to ships at the ports of Limassol, Larnaca, and Vassiliko via road tanker and pipeline supply to barges at Larnaca Port for open-sea vessel refueling.
• Mazut (Light and Heavy Fuel Oil) Fuel oil supplied in two variants for industrial energy applications: light fuel oil with viscosity around 50cst and heavy fuel oil with viscosity around 380cst.
• Lubricants Complete range of lubricants covering four segments: automotive for private individuals, professional use, industrial applications, and maritime use. Technical data sheets are available for product specifications.

Quantifiable outcome

• Up to 4% fuel savings with Diesel EKONOMY
• +5 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• AEGEAN AirlinescoreGTM or Marketing PartnerEKO Smile loyalty program integration with AEGEAN Miles+Bonus frequent flyer program. Customers can convert Smiles to Miles+Bonus miles and vice versa. Conversion rates: 2,000-10,000 Smiles to equivalent miles; 3,000 miles to €10 EKO voucher. Partnership announced via dedicated AEGEAN-EKO page on EKO website.
• TP-LinkminorGTM or Marketing PartnerSmart devices brand featured in EKO Smile app rewards catalog. TP-Link products offered as redemption options for accumulated Smiles points.
• RiversongminorGTM or Marketing PartnerWearable technology brand (smartwatches) featured in EKO Smile app rewards catalog. Riversong products offered as redemption options for accumulated Smiles points.
• CastrolminorGTM or Marketing PartnerJoint promotional campaign 'Castrol EKO Smile Promo' offering special offers and rewards combining Castrol lubricants with EKO Smile loyalty points.
• HELLENiQ ENERGYcoreOthersParent company of EKO Cyprus. Formerly known as Hellenic Petroleum (HELPE). EKO Cyprus operates as a subsidiary under HELLENiQ ENERGY group. HELLENiQ ENERGY rebranded in November 2022. EKO Energy was launched as new brand in Cyprus in May 2024.
• Hellenic Petroleum RefinerycoreOthersRefinery supplies fuels to EKO Cyprus. All fuel types produced according to European specifications. EKO enhances base fuels with proprietary high-technology additives.
• Karaiskakio FoundationcoreStrategic or Co-development PartnerPartnership for 'Match for Life' bone marrow donor registration campaign. EKO Cyprus organizes countrywide campaigns supporting bone marrow donor registry enrichment.
• Cyprus Fire ServicecoreStrategic or Co-development PartnerStrategic cooperation including equipment donations and support. EKO provides firefighting equipment and supplies to enhance emergency response capabilities.
• Panagiotis GiannakisminorGTM or Marketing PartnerPartnership with famous Cypriot basketball player Panagiotis Giannakis for youth basketball support initiatives.
• Cyprus Basketball FederationcoreGTM or Marketing PartnerGold sponsor of Cyprus national basketball teams and event sponsor of FIBA EuroBasket 2025.
• Ministry of Agriculture, Rural Development and EnvironmentminorStrategic or Co-development PartnerCollaboration for EKO Safe Rider motorcycle safety program with the Ministry providing support for road safety initiatives.
• FuelsEuropeminorStrategic or Co-development PartnerEKO Cyprus hosted the FuelsEurope conference in Cyprus, indicating involvement in European fuels industry association activities.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Shell: Global integrated oil major with downstream fuel marketing, retail stations, lubricants (Shell V-Power, Rimula), marine bunkering, aviation fueling, and fleet cards competing in the same retail and B2B segments as EKO Cyprus.
• BP: Global integrated energy major with branded retail stations, premium fuels, lubricants (Castrol partnership), marine and aviation fuel supply, and fleet payment programs (BP Fleet Solutions) directly overlapping EKO Cyprus's offering.
• Motor Oil Hellas: Vertically integrated Greek refiner and fuel retailer (Coral/Shell licensee historically) operating refineries, retail stations, lubricants, and bunkering across the Mediterranean. Comparable as a regional refiner-retailer with marine fuel exposure.
• TotalEnergies: Global integrated energy company with downstream retail, marine bunkering, aviation, lubricants, LPG, and increasingly EV charging across Europe. Comparable on product breadth and energy-transition strategy.
• HELLENiQ ENERGY Holdings: Parent company of EKO Cyprus (formerly Hellenic Petroleum/HELPE). Operates refining, wholesale, and retail fuel across Greece and the wider Mediterranean with overlapping downstream marketing, lubricants, and marine supply activities.

Emerging players

• WEX Inc. Fleet payment, fuel card, and telematics provider serving commercial fleets. Comparable to EKO Card, FFC, and GPS System offerings that monetize fleet fuel management.
• FleetCor Technologies: Global commercial fuel card and fleet payments platform (e.g., Fuelman, UK Fuels). Comparable on the B2B fleet card and fuel-management software side of EKO Cyprus's enterprise offering.

Direct peers

• AVIN Oil: Greek downstream fuel retailer with a retail station network, lubricants, LPG, and marine/aviation supply. Closely comparable to EKO Cyprus in product mix, channel structure, and Greek-Cypriot regional footprint.
• World Fuel Services: Global aviation, marine, and land fuel distributor with bunker trading, into-plane fueling, and commercial fleet card services. Highly comparable to EKO Cyprus's marine diesel and JET A-1 business.
• Bunker Holding: World's largest marine fuel physical supplier with global bunker trading and Mediterranean operations. Directly comparable to EKO Cyprus's Limassol/Larnaca/Vassiliko marine diesel supply.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCZWTvjeKpsuo
• Facebookfacebook.com/eko.cy
• LinkedInlinkedin.com/company/ekocyprus
• Instagraminstagram.com/eko_cyprus

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 EKO Cyprus