UK Aleph Commodities takes control of Swedish Intertank

October 9 (SeeNews) – London-based investment and trading company Aleph Commodities Ltd said Thursday that it has acquired a majority stake in Swedish energy storage firm Intertank Nordic AB as a prelude to further investment in tank storage and related infrastructure with a focus on the green energy sector.

Financial details of the deal or the size of Aleph's stake were not disclosed.

The business will seek to expand through targeted investments in high-quality storage assets with an emphasis on renewables and bio oils, according to the statement.

"There are many areas of synergies, where the joint team can leverage Intertank's first-class operations and Aleph's access to new markets in southern Europe, the Middle East and Africa," Aleph partner Neal Kumar said.

Founded in 2012, Gothenburg-based Intertank has a presence in Sweden, Norway, Finland, Estonia, Spain and the United Arab Emirates (UAE) and operates over 1 million cubic meters (35.3 million cubic feet) of storage facilities for liquid bulk products, mainly renewables, refined petroleum products, base chemicals and bio oils.

London-based Aleph was established in 2018 by former investment banking and commodities trading executives and offers supply chain risk management for upstream, midstream and downstream assets.

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