Tesco has, for £1.9 million, bought a 25% stake in Greenergy Fuels Ltd, a wholly owned subsidiary of Greenergy International Ltd, an independent environmentally focused fuel supplier.
Under the agreement Tesco will extend its current supply agreement with Greenergy Fuels. This is not an exclusive supply agreement and both Tesco and Greenergy Fuels will retain relationships with other suppliers and clients.
Tesco Commercial and Trading Director John Gildersleeve said "This deal demonstrates our support for Greenergy Fuel’s innovative work to develop environmentally friendly fuels. This relationship also collectively gives us the ability to improve our supply chain and bring long term benefits to all."
