Mubadala continues to support the strategic transformation of Moeve (formerly Cepsa) as it accelerates toward becoming a leading sustainable energy and mobility solutions company.

With a deep history of over 95 years, Moeve’s decision to rebrand underscores its commitment to the decarbonization of customers and its own operations. The company plans to invest up to €8bn by 2030, with more than 60% allocated to sustainable businesses.

In 2024, Moeve achieved a number of important milestones along its strategic journey; the company began construction of the largest second-generation biofuels complex in Southern Europe, investing €1.2 billion. Additionally, Moeve secured a six-year agreement with easyJet for the supply of sustainable aviation fuel, started supplying biofuels to Norwegian Cruise Line Holdings at the Port of Barcelona, and reached agreements to sell its upstream assets in Latin America as part of its capital recycling efforts.

Moeve’s transformation supports EU climate goals and has earned the company a top ranking as one of the best-in-class in its industry, in ESG Ratings for 2024.

For Mubadala, Moeve’s ongoing evolution represents a strategic opportunity to support the decarbonization of hard-to-abate sectors and create value through the broader energy transition.