HPP was pleased to act as lead legal counsel to TotalEnergies, the French energy giant, on its recent acquisition of Tecoil, a Finnish company specialised in the production of Re-Refined Base Oils (RRBOs), which has the most efficient used oil regeneration process on the market today. Tecoil currently operates a production facility of 50,000 tons of RRBOs per year in Hamina, in eastern Finland. Tecoil has developed its own circular economy network for collecting used lubricants in Europe and supplying its plant. Through a process known as “re-refining”, optimised by Tecoil, used oils are treated to give them properties comparable to the best virgin base oils. These high-quality base oils are used to make lubricants that meet new customer demand for circularity and sustainability. They significantly reduce the lubricants’ carbon footprint while delivering the level of performance expected and approved by many car manufacturers.
This transaction highlights HPP’s strength in advising on significant green transition transactions, in which the firm is recognised as one of the leading Finnish law firms, advising a wide range of parties on their legal issues arising from significant green transition, renewable energy and decarbonisation projects and transaction.
