Alkagesta, an international trading company, has opened a new office in Geneva specifically for biofuel trading, according to Le Temps. This move is intended to support the energy transition across the continent, positioning the company within a recognised framework of stability and compliance in the Swiss city.
The publication reports that biofuels are no longer a niche product, with the European sector projected to reach USD 59 billion by 2030. The biodiesel segment alone is expected to grow from USD 19.5 billion in 2024 to USD 32 billion by 2033, reflecting a broader global shift towards clean energy.
Geneva, a long-standing hub for global commodity trading, is adapting its expertise to new energy flows. Orkhan Rustamov, Alkagesta's CEO, stated that Geneva offers a network of expertise in trade finance, legal services, and logistics, enabling responsible management of complex commodity flows.
Founded in Malta in 2018, Alkagesta maintains a focus on petroleum products but is strategically diversifying into fertilisers, agricultural inputs, and biofuels. The company works with over 28 international banks and adheres to strict KYC and LBA controls, applying these rigorous standards to its new ventures.
Pierre Gay, an Alkagesta board member, highlighted Geneva's precision in trade finance and risk management as a unique environment for managing new commodity flows. The company's ambition is to achieve responsible growth within this trusted framework, as the Geneva trading cluster adapts to a low-carbon economy.
