A Global Business

Melbourne, Australia – June 2026 – Gunvor Group, a leading global energy trading company, today announced an expansion of its APAC power platform through two connected transactions in South Australia: a long-term electricity supply agreement with Firmus Technologies for its planned AI infrastructure operations, and a long-term offtake agreement supporting GreenPoint Energy’s Koolunga Battery Energy Storage System (BESS) project.

Together, the transactions establish an integrated supply model linking large-scale electricity demand with renewable procurement, flexible load capability and battery firming infrastructure, supporting Firmus’ long-term Australian energy requirements.

Under the 12-year agreement, Gunvor will supply electricity to Firmus’ South Australia operations from mid-2027 through  supply arrangements designed to support Firmus’ long-term growth. As part of that structure, Gunvor is committing to underwrite 1.2 GW of additional renewable generation and 1.5 GWh of new battery storage capacity by 2032, while incorporating demand flexibility during tight supply periods. In doing so, Gunvor and Firmus will take the market and tenor risk needed to help unlock investment in the long-dated renewable and firming capacity required for the energy transition.

A key part of the initial firming portfolio is GreenPoint Energy’s Koolunga BESS project. At 200 MW / 800 MWh, Koolunga is expected to provide more than half of Firmus’ initial contracted battery firming requirement and represents the first major storage component supporting the broader Firmus–Gunvor supply portfolio.

Under the offtake agreement, GreenPoint Energy will secure long-term revenue support for the project, while Gunvor will secure dispatchable storage capacity and risk management capability to support customer delivery. Koolunga is targeted for commercial operations in Q1 2028 and is located adjacent to ElectraNet’s Brinkworth 275 kV substation in South Australia’s Mid North.

The combined structure demonstrates how long-term customer demand can be coordinated with renewable procurement and firming infrastructure through a single commercial solution. For Gunvor, the transactions represent another step in the expansion of its APAC power platform and provide a model for future customer-led energy solutions across the National Electricity Market.

“The AI revolution will be built on energy infrastructure, and this agreement shows how commodity traders can play a critical role in making that future possible. This milestone underscores the evolution of Gunvor into a broader energy solutions provider—one that can mobilize capital, manage risk, and deliver physical supply to support strategic infrastructure projects,” said Aldo Della Valle, Global Head of Power & Natural Gas Trading. “As power demand accelerates globally, Gunvor is exceptionally well positioned to bring the same capabilities to developers and customers across North America, Europe, Japan and Australia.”

Firmus Co-CEO Oliver Curtis said: “AI is going to be one of the largest new sources of electricity demand Australia has ever seen. The question is whether that demand fights the energy transition or helps to fund it. Firmus’ answer, set out today in our Australian Energy Policy, is that we should back it and accelerate it, and this agreement is the first proof. New renewables, new firming, and a load that gets out of the way when the system is stressed, all on arm’s length terms. This is the model we will build on across the country.”

Mahesh Reddy Indluri, Co-Chief Executive Officer, GreenPoint Energy, said: “GreenPoint Energy’s partnership with Gunvor on Koolunga highlights the importance of strategic long-term offtake structures for battery energy storage systems to support Australia’s data centre ambitions. This offtake structure positions Koolunga within a broader firm load supply model designed to specifically support large scale commercial customers with renewable energy.”

About Firmus

Firmus Technologies is an AI Factory Platform Company built on a simple idea: energy in and tokens out – as efficiently as possible. Vertically integrated from model to grid, Firmus uses proprietary energy and cooling technology to build and deliver cutting-edge AI infrastructure with scale, reliability and performance. Headquartered in Sydney, Australia, Firmus provides AI cloud services across Asia Pacific and beyond, powered by AI factories that strengthen the grid, accelerate the adoption of renewable energy, and form the sovereign, sustainable infrastructure on which the next era of AI will run. Follow @firmustechnologies on LinkedIn 

About GreenPoint Energy

GreenPoint Energy (GPE), a subsidiary of Equis, is led by its founders: David Russell, Roby Camagong, and Mahesh Reddy Indluri. GPE operates one of the largest independent energy transition portfolios in the National Electricity Market. The GPE founders have raised and managed AUD $6.1 billion of equity. This has been invested into over 250 renewable energy and energy transition assets across 10 countries, including GPE and Equis Energy (now Vena Energy). For more information, visit: www.greenpointenergy.com.au

About Gunvor Group

Gunvor Group is one of the world’s largest independent commodities trading companies, creating logistics solutions that safely and efficiently move physical energy, power, bulk materials, and base metals from where they are sourced and stored to where they are demanded most. With strategic investments in industrial infrastructure—upstream, terminals, refineries, power plants and storage—Gunvor further generates sustainable value across the global supply chain for its customers. Gunvor trades in more than 100 countries with main trading hubs in Geneva, Singapore and Houston, along with other trading offices in Stamford, Dubai, London and Shanghai, supported by a network of more than 20 representative offices around the globe. In 2025, Gunvor generated revenue of US$144 billion trading volumes of 253 million MT of commodities. For more information: GunvorGroup.com
 

SINGAPORE – Gunvor Singapore Pte. Ltd. (the“Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (the“Company” or “Gunvor” or the “Group”), has closed a US$1.366 billion sustainability-linked, syndicated revolving credit facility (“RCF” or”Facility”) on 12 June 2026.

The Facility, which was launched initially at US$800 million in April 2026, received strong support from Gunvor’s banking partners and attracted new banks, bringing together a total of 32 banks to close significantly oversubscribed by over 71% at general syndication and an increase over the previous year.

“While the renewal of this year’s Asian Revolving Credit Facility came at a time of a major market disruption, we received the biggest support in any of our ARCF so far. This is the highest general syndication closing in terms of amount raised and number of participants. This major achievement is a testimony to the confidence that our long term and new finance partners are placing in our group, enabling Gunvor to develop further”, said Jean Rohr, Gunvor’s Regional CFO for Asia-Pacific.

The 364-day Facility, which is guaranteed by the Company and includes two 12-month extension options, will be used for general corporate and working capital purposes, including the refinancing of the Borrower’s existing US$1.285 billion 2025 Asia Sustainability-linked Revolving Credit Facility, which was upsized to US$1.335 billion during the accordion phase.

Similar to previous financings, the Facility includes four sustainability Key Performance Indicators (KPls) supporting the Group’s strong commitment to improve the environmental and social impacts of its trading operations and to invest in sustainable commodities and businesses. The KPls relate to the reduction of Scope 1 and 2 Greenhouse Gas (GHG) emissions; reduction of Scope 3 GHG emissions associated with the improvement of energy efficiency of time-chartered shipping fleets; the investment in renewable and carbon reduction projects; and the assessment of the Group’s assets, joint-ventures and critical suppliers against Human Rights principles. Each KPI is tested annually and verified externally in line with LMA Sustainability-Linked Loan Principles.

China CITIC Bank International Limited, DBS Bank Ltd., MUFG Bank, Ltd. and Oversea-Chinese Banking Corporation Limited were mandated to arrange the Facility and acted as the Active Bookrunning Mandated Lead Arrangers for the Facility. Abu Dhabi Commercial Bank PJSC, Agricultural Bank of China Limited, Singapore Branch, Emirates NBD Bank (P.J.S.C), Singapore Branch, First Abu Dhabi Bank PJSC, Natixis, Singapore Branch and State Bank of India, Singapore Branch remain as the Bookrunning Mandated Lead Arrangers. DBS Bank Ltd. also acted as syndication coordination agent and sustainability coordinator of the Facility, while Natixis, Singapore Branch also acted as Facility Agent, legal and documentation agent.

Bank of China Limited, Singapore Branch, China Construction Bank Corporation Singapore Branch, Cooperatieve Rabobank U.A., Singapore Branch, Credit Agricole Corporate and Investment Bank, Singapore Branch, ING Bank N.V., Singapore Branch,

UBS AG, Singapore Branch, and Westpac Banking Corporation, Singapore Branch are Mandated Lead Arrangers.

Krung Thai Bank Public Company Limited, Singapore Branch, Mizuho Bank, Ltd., Societe Generale, a public limited company incorporated in France, acting through its Hong Kong branch, and United Overseas Bank Limited remain as Lead Arrangers. Furthermore, China Minsheng Banking Corp., Ltd. Hong Kong Branch (a joint stock limited company incorporated in the PRC) and Nanyang Commercial Bank, Limited joined as new Lead Arrangers.

Arab Bank pie, Bank of Communications Co., Ltd., Singapore Branch, China Merchants Bank Co., Ltd, Singapore Branch, Commerzbank Aktiengesellschaft, Singapore Branch (Incorporated in Germany with limited liability), Habib Bank Limited, Singapore Branch, National Bank of Fujairah PJSC, Sumitomo Mitsui Banking Corporation Singapore Branch, and Sumitomo Mitsui Trust Bank, Limited Singapore Branch remain as Arrangers. Furthermore, The Bank of East Asia, Limited joined as a new Arranger.

About Gunvor Group

Gunvor Group is one of the world’s largest independent commodities trading houses by trading volume, creating logistics solutions that safely and efficiently move physical energy from where it is sourced to where it is demanded most. With strategic investments in industrial infrastructure (refineries, pipelines, storage and terminals), Gunvor further generates sustainable value across the global supply chain for its customers. Gunvor trades in more than 100 countries with three main trading hubs in Geneva, Singapore and Houston, along with other trading offices in Stamford, Dubai, London and Shanghai, supported by a network of more than 20 representative and other trading offices around the globe.

London – Gunvor Group, a leading global energy commodities trading company, announces that it has received the first issuance of credits from its cookstove project in Sierra Leone. The credits are eligible for the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). 

The cookstove project, which is implemented by DelAgua, has distributed 250,000 fuel-efficient stoves to households across seven districts in Sierra Leone: Koinadungu, Moyamba, Kenema, Bo, Tonkolili, Kambia and Western Rural. Along with the stove, each household receives one-on-one education on the health and environmental benefits of clean cooking. They also receive ongoing support during the stove’s 10-year lifespan, delivered by a local network of over 1,600 youth ambassadors by DelAgua, providing valuable employment and skills training. 

“Gunvor believes that investing in cookstove projects is one of the most impactful carbon credit opportunities; they deliver measurable emissions reductions while simultaneously improving health, reducing deforestation, and supporting local livelihoods in vulnerable communities,” said Darren Gurner, Head of Voluntary Carbon at Gunvor. “With CORSIA, we have further strengthened the credibility of our Sierra Leone program by aligning with a rigorous, internationally recognized framework backed by the aviation sector and overseen by global regulatory standards.”

CORSIA provides airlines and other aviation sector participants with an internationally-recognized framework through which they can meet their emissions reduction obligations. In line with CORSIA requirements, the project has secured a Letter of Authorisation (LoA) from the Government of Sierra Leone. The projects first small issuance has received the CORSIA tag through insurance, ensuring full alignment with CORSIA eligibility requirements and providing enhanced confidence for buyers.

One major benefit of cookstoves is that they use significantly less wood than traditional cooking methods, so fewer trees are felled. The project also has significant health benefits from reduced smoke in the cooking process as well as time saving: people do not have to spend time and money collecting firewood, and cooking times are quicker.

DelAgua’s CEO, Euan McDougall, said, “We believe that no rural household should be left behind in the global transition to clean cooking. Our Live Well project empowers communities through access to clean cooking, while delivering credible and measurable high-quality climate outcomes and so can  contribute meaningfully to the global aviation sector’s climate commitments. We are proud to partner with Gunvor to extend this programme to 250,000 households across Sierra Leone, transforming more than two million lives.” 

The carbon credits are now available for purchase through Gunvor’s carbon trading desk, with future issuances from later this year being sold on a pre-issuance basis.

Gunvor has recently started work on two further cookstove projects, one in Sri Lanka and the second, again with DelAgua, in The Gambia. In addition, it is funding a forest planting project in Colombia, from which carbon credits will be available in 2026, as well as working on a number of other projects which are at different stages of the investment process

About Gunvor Group 
Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy and bulk materials from where they are sourced and stored to where they are demanded most. Gunvor has strategic investments in industrial infrastructure – refineries, pipelines, storage and terminals – that complement our core trading activity and generate sustainable value across the global supply chain for our customers. Further information can be found at www.gunvorgroup.com.

About DelAgua
DelAgua is a social enterprise with more than a decade of experience implementing large-scale carbon development projects that transform the lives of rural households in Least Developed Countries across Africa. The Live Well programme exclusively targets rural communities who are otherwise unable to afford the transition to clean cooking. To date, DelAgua has distributed more than 2 million stoves across Rwanda, The Gambia and Sierra Leone. The cookstove distributed by DelAgua is the world’s most fuel-efficient, advanced wood fuel stove. It reduces wood consumption by 71% compared to 3-stone cooking methods and produces 81% fewer emissions than an open fire delivering multiple health, climate, gender and economic benefits for people and the environment.

For more information, please contact [email protected]

Project is among the largest standalone battery storage assets in Southeastern Europe

Repono AB (“Repono”), a European energy storage developer and operator headquartered in Göteborg, announces a strategic commercialization and optimization partnership with Gunvor Group (Geneva), in collaboration with enspired GmbH (Vienna), for its flagship battery energy storage system (BESS) project in Argeș County, Romania.

The project, with an installed capacity of 202 MW / 404 MWh, is among the largest standalone battery storage assets in Southeastern Europe and comes at a time when Romania is rapidly establishing itself as one of the most attractive markets in Europe for battery energy storage. Driven by the continued expansion of renewable generation, increasing demand for grid flexibility, and a supportive regulatory framework, the Romanian power market is creating strong opportunities for large-scale storage assets to play a central role in balancing the system and enabling further renewable integration. 

Within this context, Gunvor Group will market and commercially manage 100% of the project’s capacity via a cap and floor toll structure, while enspired GmbH will commercially optimize the asset across all existing revenue streams, providing full access to power and ancillary service markets. Together, this setup ensures that the Argeș project is well positioned to capture value across multiple revenue streams in an increasingly dynamic energy market.

Karim Grueber, Managing Director of Repono, commented:
“Romania is rapidly emerging as one of Europe’s most attractive markets for battery energy storage. The accelerated build-out of renewable generation, combined with growing system balancing requirements and increasing market volatility, is creating a strong business case for large-scale BESS assets. Together with Gunvor, enspired and our local development partner, we believe the Argeș project is exceptionally well positioned to support grid flexibility while capturing the significant opportunities offered by this evolving market environment.”

Pawel Lewin, Head of Energy Origination & Bio Methane at Gunvor Group, added:
“Gunvor is pleased to partner with Repono in Romania, a fast-evolving power market, as we continue to explore new battery storage projects that further integration of renewable energy across the world.”

Jürgen Pfalzer, Chief Commercial Officer, enspired GmbH, commented:
“The collaboration with Repono and Gunvor marks a transformative step for the deployment of large-scale storage in Romania, and we are proud to support by unlocking commercial value and boosting revenues with our advanced BESS optimization services.”

The Argeș BESS project is targeting commercial operation in Q2 2027, subject to the successful achievement of key project financing, and construction milestones.

Repono AB, headquartered in Göteborg, is a European developer, owner, and operator of large-scale battery energy storage systems focused on enabling the energy transition through flexible infrastructure. Gunvor Group, headquartered in Geneva, is one of the world’s largest independent commodities trading companies active across global energy markets. enspired GmbH, based in Vienna, provides optimization and trading services for battery storage and renewable energy assets.

Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. With strategic investments in energy infrastructure—shipping, refineries, pipelines, storage, and terminals —Gunvor further generates sustainable value across the global supply chain for its customers. In 2025, Gunvor Group generated US $144 billion in revenue on 253 million metric tons of turnover. More information can be found at GunvorGroup.com

enspired is Europe’s leading optimizer of battery energy storage systems (BESS), managing a BESS portfolio of 80+ grid-scale batteries and more than 1GWh of BESS live in a full cross-market setup, including the largest BESS in Germany. enspired achieves maximum revenues through the advanced trading platform developed 100% in-house. The company is active across 12 countries in Europe and Asia.

Agreement is the latest in a series of long-term LNG supply and purchase agreements from the Delfin Deepwater Port LNG Export Facility

Houston, TX – Delfin Midstream Inc. (“Delfin” or the “Company”) and Gunvor Group announced today that Gunvor International B.V. Amsterdam, Geneva Branch (“Gunvor”), has entered into a long-term LNG Sale and Purchase Agreement (“SPA”) with Delfin LNG LLC (“Delfin LNG”), a subsidiary of Delfin.

Under the SPA, Delfin LNG will supply 0.3 million tonnes of LNG per annum to Gunvor on a free-on-board (“FOB”) basis at the Delfin FLNG1 facility, located 40 nautical miles off the coast of Louisiana, for 20 years. 

Kalpesh Patel, Co-Head of LNG Trading and member of the Management Board of Gunvor, said: “We are very pleased to announce another long-term partnership with Delfin. The deal represents further enhancement of Gunvor’s LNG portfolio and together with our robust fleet, we will continue to position ourselves as a reliable supplier of LNG to all destinations around the globe.”

Dudley Poston, CEO of Delfin, said: “We look forward to building on our longstanding partnership with Gunvor as we continue to advance the development of critical energy infrastructure in the U.S. This additional agreement further highlights our strength as a dependable long-term supplier of clean and scalable LNG solutions.”

About Delfin

Delfin is a leading LNG export infrastructure development company utilizing low-cost Floating LNG technology solutions. Delfin is the parent company of Delfin LNG. Delfin LNG is a brownfield Deepwater Port requiring minimal additional infrastructure investment to support up to three FLNG Vessels producing up to 13.2 MTPA of LNG. Delfin purchased the UTOS pipeline, the largest natural gas pipeline in the Gulf of America. Delfin LNG received a deepwater port license from MARAD and approval from the Department of Energy for long-term exports of LNG to countries that do not have a Free Trade Agreement with the United States. Additional information is available at www.delfinmidstream.com.

About Gunvor Group

Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. With strategic investments in energy infrastructure—shipping, refineries, pipelines, storage, and terminals —Gunvor further generates sustainable value across the global supply chain for its customers. In 2025, Gunvor Group generated US $144 billion in revenue on 253 million metric tons of turnover. The Group’s main trading offices are in Geneva, Singapore, Houston, Stamford, Calgary, Dubai, and London, with a network of more than 20 representative and other trading offices around the globe. More information can be found at GunvorGroup.com or @Gunvor.